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When you become a client of Orca Law Group, you can expect a client centered process that provides education so you can make informed decisions, and transparency so that you always know what we have done and what the next step in the process is. If you have a financial advisor or a CPA, we also like to involve them at certain steps in the process so that we can work together to achieve your goals.
A :Power of attorney is a document that authorizes someone else to make legal decisions on your behalf in the event you are unable to make them yourself – decisions and actions such as paying bills, selling real estate, accessing bank accounts, and so on. There are several different types:
Bear in mind that power of attorney documents are valid when signed, kind of like a blank check. One important goal of this designation is to provide specific instructions consistent with your estate plan, so that important planning decisions you have made cannot be undone through use of power of attorney. The standard statutory Power of Attorney used by most lawyers are insufficient to protect your assets or to do estate planning if you become incapacitated. It is critical your Power of Attorney contain the necessary language to authorize all authority needed. For more details, contact us today.
A : Here is our explanation: A trust is like the little red wagon you had when you were a child. Silly answer? Think about it…
Imagine for a moment that all of your assets are boxes – your home is a box, your car is a box, your bank account is a box, and so on. You have this stack of “boxes” you’re carrying in your hands as you walk through life. If you should trip and fall (i.e. die or become disabled), what happens to the “boxes”? They fall all over the place, and you need a lawyer to help you gather them all up. If you’re alive and disabled, the “boxes” are picked up by your power of attorney. If you’re dead, they can be picked up by your executor after your heirs go to probate court.
You can avoid all that with a trust. When you establish a trust, it’s like getting a little red wagon to put your “boxes” (or assets) in. They all fit inside the wagon, nice and snug. You have total control over what goes in the wagon, where it goes, etc. If you want to take it from Dean Witter over to Citigroup, that’s up to you, because it’s your wagon, and you’re the one pulling it around. And if something should happen to you, the only thing you drop is the handle. The “boxes” (your assets) are all still safely tucked inside the wagon.
Now, attached to the handle of the wagon is your book of instructions. These instructions spell out in very specific terms what you want to have happen if you can no longer control your wagon full of assets. That is what a trust is – it’s your book of instructions that keeps your assets together, and establishes a plan for what happens to them if you should become incapacitated or after you die.
A : Simply put, effective estate planning is the best way to ensure that you will be able to control your property while you’re alive and well, provide for your loved ones and yourself if you become disabled, and leave your assets when you die to whom you want, when you want, the way that you want.
Every state has laws that govern what becomes of your assets if you die or become disabled. But the government also allows you to establish your own set of rules that supersede those laws, if you so choose. The process of establishing your rules is called estate planning. So, for instance, while the state may require your will to go through probate, you can choose to spare your heirs this sometimes drawn-out legal process. But you can only do it through estate planning.
Our clients often tell us that one major frustration they have with attorneys are the fees charged for services. Often the fees lack transparency and can be confusing to a client. In some cases, fees are based upon the amount of assets that a client has, yet in other cases the fees are not determined until a product/service has been chosen. Most clients hope that it will all “work out” and potentially leave the meeting with an uneasy feeling. We have listened to our clients and their concerns. Orca Law Group, PLLC has created a system and process that eliminates the “uneasy” factor and concerns.
Orca Law Group, PLLC is proud of and confident in our fee structure. All of our fees are clearly listed on a fee schedule that is laminated and available during all meetings throughout our client-centered process.
Our client-centered process allows prospective clients to communicate and define what is important to them. Clients start by attending a free workshop which is a fun and entertaining way to learn about all areas of estate planning. This is accomplished through a series of stories and real life applications.
After prospective clients attend our free workshop, he or she can then choose to move forward with a consultation. This consultation allows the attorney to listen and understand what is important in his or her estate planning. This clarity allows the attorney to present the options that are consistent with the information that has been shared.
The cost associated with each and every plan is then clearly communicated to the client. Orca Law Group, PLLC knows this decision may need to be discussed so the attorney will leave the room to allow time for any discussion among the clients. When the attorney enters the room the client can decide what makes the most sense for their needs or communicate if they need additional time.
An open dialog and complete transparency about fees allows our clients to feel confident in the Orca Law Group, PLLC fee structure & process. We pride ourselves in building relationships and maintaining clients who feel confident in our process.