Trust Funding and Maintenance

At Milvidskiy Law Group P.C., we understand that creating an estate plan is a critical step in securing your legacy and protecting your loved ones. However, an estate plan is only as effective as its alignment with your current assets. That’s why we’ve developed our comprehensive Client Care Program to ensure that your assets remain in sync with your estate plan, safeguarding your intentions and providing peace of mind.

The Importance of Funding

A meticulously crafted estate plan can fall short if it’s not properly funded. Funding refers to the process of transferring your assets into your trust, ensuring they are distributed according to your wishes. Without proper funding, assets may not be covered by your trust, potentially leading to probate and unintended consequences.

Imagine you establish a trust but fail to transfer your home into it. Despite your wishes, your home may have to go through probate, causing delays and additional expenses for your beneficiaries. Proper funding can prevent such scenarios, ensuring seamless execution of your estate plan.

Our Services

Our Client Care Program offers a range of services designed to maintain the alignment of your assets with your estate plan. This continuous support ensures that as your life and the law evolve, your estate plan remains effective and up-to-date.

Guided Funding

With our Guided Funding service, we assist you in transferring your assets into your trust. We provide step-by-step guidance, helping you navigate the complexities of funding your estate plan.

If you have multiple bank accounts and investment portfolios, our team will guide you through the process of retitling these assets in the name of your trust. This ensures that all your financial assets are properly aligned with your estate plan.

Full Funding

Our Full Funding service goes a step further by handling the entire process for you. Under a limited power of attorney, we prepare all necessary transfer documents and act as a liaison between you and your financial institutions. This comprehensive approach ensures that every asset is transferred correctly and efficiently.

If you’re busy managing a demanding career or simply prefer to have experts handle the details, our Full Funding service ensures that all your assets, from real estate to retirement accounts, are seamlessly transferred to your trust without requiring your direct involvement.

Client Care Program Options

Our Client Care Program is designed to provide ongoing representation and support, ensuring your estate plan remains effective throughout your lifetime. We offer various program options tailored to meet your unique needs.

Continuous Representation

Our program entitles you to continuous representation by our firm. We are always available to address your concerns, provide legal advice, and make necessary adjustments to your estate plan.

Regular Amendments

Laws change, and so do personal circumstances. Our program includes regular amendments to your estate plan prompted by changes in the law or significant life events, such as marriage, divorce, or the birth of a child.

If you experience a significant life change, like the birth of a grandchild, we will promptly update your estate plan to include provisions for their future care and education.

Annual Meetings

We conduct annual meetings to reevaluate your estate plan, review your assets, and provide advice on any necessary adjustments. These meetings ensure your estate plan remains aligned with your current situation and goals.

During an annual review, we might discover a newly acquired property that hasn’t been transferred to your trust. We will take immediate action to include this asset, ensuring it’s protected by your estate plan.

Ongoing Coordination

We maintain ongoing coordination with your financial planners and tax professionals to ensure a holistic approach to your estate planning. This collaboration ensures all aspects of your financial life are considered and integrated into your estate plan.

If your financial advisor suggests a new investment strategy, we will work together to ensure these investments are properly titled in the name of your trust, maintaining the integrity of your estate plan.

Trust Protector Services

Serving as your Trust Protector, Milvidskiy Law Group P.C. offers an additional layer of oversight and protection for your trust. Our role as Trust Protector includes:

• Ensuring that the trust is administered in accordance with your intentions.
• Overseeing the actions of the trustee to prevent mismanagement or abuse.
• Amending trust terms if necessary, to adapt to changes in law or circumstances.
• Resolving disputes between trustees and beneficiaries to ensure the smooth operation of the trust.

Changes in law or unforeseen circumstances can impact the administration of your trust. A trust protector can make necessary adjustments, ensuring that your trust remains effective and aligned with your wishes.

Ensuring Effectiveness

The effectiveness of an estate plan lies in its continuous alignment with your assets and goals. Our Client Care Program is designed to provide you with the highest level of service and support, ensuring your estate plan remains a true reflection of your wishes.

Without regular updates and proper funding, an estate plan can become obsolete, leading to unintended consequences such as assets being subject to probate or distributed contrary to your wishes. Our program prevents such outcomes, offering peace of mind that your legacy is secure.

Contact us today to learn more about our Client Care Program and how we can help you maintain an effective and comprehensive estate plan. With Milvidskiy Law Group P.C. by your side, you can rest assured that your estate plan will always be in perfect alignment with your assets and goals.