At Foster Legal Advisory Group, we believe in personalized service for each and every client. Our approach is educational and proactive – we first determine each client’s individual needs, desires and values, and then tailor their plan to best fulfill their dreams.
We represent all families and business owners throughout varying stages of life:
- Traditional two parent families or single parents wishing to provide for and protect their children, young adults and future generations;
- Blended families negotiating the challenges of creating new relationships with varying expectations;
- Business owners seeking ways to protect and expand their companies and considering how and when to transition to the next generation of ownership;
- Business owners who would like to retire with sufficient assets and to grow and sell their companies;
- Families with elderly parents who may need to preserve inheritances and pay for growing long term care and home care costs;
- Persons who have no family, funds or capacity to care for themselves but would like to avoid needing a court appointed Guardian;
- Unmarried couples who are either solidifying their relationship through proper planning or have dissolved their relationship and now need the help of counsel to protect their assets;
- Probate proceedings for families who did not plan, or for those who did not properly add assets to their trusts
The 5 Truths About Estate Planning
Estate planning is a Process, not an event. Every estate plan goes through three steps:
My plan is developed and written.
Time will pass before my plan is needed, during which, changes in myself, my assets, and the law will often cause my plan to fall out of date.
My plan is administrated at my death or disability.
Because of changes in my life, I will need to build a relationship with my attorney so that my plans will be kept current. I know that the "call the lawyer when ..." mode of estate planning does not work, which means I need to take a more active role in making regular appointments with my attorney to keep them informed.
If I am a small business owner in a partnership, I need to establish guidelines for the transfer of my share if I become disabled or die unexpectedly so that my spouse and children can continue to receive benefits from the business in the short and long term.
As long as I am alive, my planning is never 'done' because I need to update my lawyers and team of professionals regularly and when my kids are old enough, I need to communicate with them directly. Because the more proactive I, and my family are, in the process, we will lower attorney fees overall.
Planning is also about my personal goals - probably even more than about avoiding probate and taxes. Personal goals include things like: how I want to grow, sell and transfer my business; how I want my spouse cared for and provisions if she/he remarries; how my assets should be used to support my spouse's health and maintenance needs; how I want my assets to support my children and grandchildren's education, health and support needs; how to keep the control of my assets and my care within the family in the event of my disability; how to protect my estate from nursing home costs; how to protect assets from divorces and creditors of my children even after they have already inherited; and how to promote my family and spiritual values,
If any of these statements seem difficult to accept, we invite you to contact us today to learn more about WHY Estate Planning is so important. Please call us at 505-835-6580 for Albuquerque clients and 505-989-9299 for Santa Fe clients. )