Many wealth management and estate planning strategies are at least two-pronged and require the Client to take action on all sides for the strategy to be effective. The best laid plans are just that: plans. For instance, a Trust can be meaningless if it isn’t funded. An Irrevocable Life Insurance Trust can be ineffective if the policy holder or beneficiary isn’t updated. Be sure to speak with your attorney and your financial advisor to ensure all necessary steps of your strategies have been completed.
-Emily A. Helmick, Esq.