Estate Planning Process

At Herrick Wealth Advisory, we understand that effective estate planning requires careful coordination and collaboration.

Initial Consultation

We begin with a personalized meeting to discuss your financial goals, family dynamics, and specific wishes regarding your estate.

Document Review

We assess your current estate planning documents, including your will, power of attorney, and healthcare directives, to determine if they reflect your current wishes.

Coordination with Estate Attorneys

We work closely with experienced estate attorneys to draft or update necessary documents. Our goal is to ensure that all legal aspects are covered and tailored to your needs.

Strategic Planning

Together with your attorney, we develop strategies to minimize estate taxes and address any other financial concerns. This includes considering how changes in estate tax exemptions may affect your planning.

Key Designations

We help you designate trusted individuals for roles such as executor, trustee, agent, and guardian, ensuring that your chosen representatives are prepared to carry out your wishes.

Drafting Documents

Once strategies are in place, the estate attorney will draft the necessary documents, and we’ll review them together to ensure they align with your intentions.

Implementation

We assist you in executing the finalized documents and ensure they are properly filed and accessible when needed.

Ongoing Review and Updates

Estate planning is an ongoing process. We schedule regular check-ins to review your plan, update documents as life circumstances change, and ensure your estate plan continues to meet your goals.