Send us a text

Todd Whatley reveals the transformative power of attorneys and financial advisors working side-by-side to provide comprehensive elder law services that truly meet clients' needs. Drawing from 25 years of experience and recent success implementing this collaborative approach, Todd explains how breaking down professional silos creates superior outcomes and increases profitability.

• The current system forces clients to shuttle between separate attorneys and financial advisors who rarely communicate
• Important planning details get lost and recommendations conflict when professionals work in isolation
• Mutual distrust between attorneys and advisors often prevents collaboration that would benefit everyone
• Financial advisors face pressure to offer estate planning through "ghost law firms" that provide inferior documents
• Implementing a collaborative approach where financial advisors join attorney meetings creates comprehensive solutions
• Having both professionals present ensures clients receive complete advice on legal, tax, and long-term care issues
• Real case example: advisor identified undervalued business assets, resulting in improved tax planning strategies
• Attorneys practicing without financial advisor partnerships miss opportunities and leave money on the table
• When professionals collaborate, clients leave with integrated legal and financial plans aligned with their needs

If you're interested in transforming your practice with these strategies, join us at the Transformation Summit next February where we'll spend four hours expanding on this approach. Email Trisha at Trisha@theelderlawcoach.com for information.

Check out our new website www.TheElderLawCoach.com.

Send us a text

Analyzing a real client case reveals how proper business valuation prevented millions in estate tax liability for a family business succession plan.

• Late 70s couple with three children (one running the family business) needed trust updates
• Initial assumption: $6 million estate ($4M personal assets, $2M business) was non-taxable
• Deeper analysis revealed business actually worth $15-18 million based on revenue multiples
• Without planning, estate would face massive tax bill and business succession challenges
• Business-operating child didn't want to need siblings' permission or owe them money
• Solutions include gifting business interests at current valuation with appropriate discounts
• Restructuring ownership allows fair (not equal) distribution without losing control
• Wealthy clients often don't understand estate tax implications, even with $40M+ estates
• Family businesses, rental portfolios require specialized transition planning
• Business succession requires balancing equalization with practicality

Call the office at 479-601-4119 or visit theelderlawcoach.com to learn about upcoming webinars and the Elder Law Transformation Summit in February 2025.

Be sure to mark your calendar for our Monthly Webinars and for this fantastic weekend. Visit our website for the webinar schedule and to sign up. Stay tuned for more information about the Transformational Weekend.

Check out our new website www.TheElderLawCoach.com.