In this edition of M&B Monthly…
- From the President: “We’re The Firm That Funds Our Trusts”
- Estate Planning Seminars: Share With A Friend
- A Little About Us… Highlighting Relationship Manager Jami Martin & Her Fabulous Crockpot Salsa Chicken Recipe
Letter from the President, Justin Martin
“We’re The Firm That Funds Our Trusts”
Myatt & Bell, PC (“M&B”) prides itself with being the firm that “funds our trusts.” In this letter, I’ll expand a bit more on what this could potentially mean for you.
The term “funding” is the process of transferring the title of assets to the trust and updating beneficiary designations on retirement assets and other types of assets like life insurance. Essentially, if you or someone you know has acquired a new account/asset, sold a house, or changed assets then funding is something to consider.
While anybody with a trust needs to make sure the assets are appropriately titled in the trust, some estate planning law firms leave this to their clients, and many people don’t follow through, not realizing the negative impact on family, the financial burden, and so much more. All too often, we come across clients who come to us for trust administration at the end, only to find out that because they didn’t put any of their assets in trust, they were not able to avoid public, court-supervised probate, which typically takes six to nine months and can cost the estate thousands of dollars that would have gone directly to beneficiaries otherwise had the trust been properly funded.
Not only does this cause undue stress on the trustee, but it’s also a much more costly and time-consuming process, and it can take over a year and sometimes more to get final court approval to payout to beneficiaries. The costs of these unfunded trusts — especially when there is significant tax planning in the trust — can also cause higher estate taxes.
At M&B, we go out of our way to avoid situations like this, and funding our trusts is something we take ownership in. Our Client Relationship Manager, Jami Martin, works with clients to gather assets prior to an estate plan being prepared and assist with the funding of each asset after the trust is prepared. Backed by our legal team, Jami works with you to learn about your assets and offer the best solution to properly fund that asset to avoid probate. This includes the preparation of deeds for real estate, assignments and stock certificates for business entities, and follow up with you and your financial advisor to fill out paperwork for account title changes to the trust. Most of all, she is here to answer questions and be a support in the sometimes complicated to navigate processes that institutions require for funding.
The tangible outcomes of committed funding are real. When a client comes to us with a fully funded trust, the process is so much smoother. Probate is avoided when the trust is properly funded (unless there is a lawsuit). Trust administration fees are less expensive, and the time to go through all the required steps of administering your trust is much quicker and less painful, all without court supervision. This also facilitates estate tax planning, incapacity planning, and other succession successes. In the end, a fully funded trust helps the already stressful process become much more bearable.
In fact, we now include funding and funding follow up in our flat rates because it’s that important, and we offer trust funding hourly or flat rate for clients prior to the date when we included funding in our estate funding flat fee. In some cases, we may even be able to provide a flat rate fee that will include ongoing funding support moving forward. If your estate planning was done with us prior to 2017, contact us if you would like us to assist you with funding your trust, or ensure your assets and funding are complete and on file with us. Please contact Jami Martin at firstname.lastname@example.org if you are interested in completing or updating your trust funding, you have not finished yet with her, or if you would like to be advised of our hourly or flat rate options for funding support.
Share our Webinar Sign Up Page With Family And Friends That Need Estate Planning
Many of us have family and friends that we know need estate planning. Maybe you have mentioned it a time or two, but you know they have been too busy to start the process or just don’t know where to begin. Let’s make it easy for them! Simply share our Estate Planning Webinar Registration Page on social media or text. Even easier…Copy and paste the link to our Website Planning Webinar Registration Page Below.
Please reach out to Jami Martin our Client Relationship Manager to start planning and your personalized complimentary estate planning webinar or seminar. You can also join one of our ongoing public live Estate Planning Informational Webinar by clicking here.
From Our Clients…
“…my history with Myatt & Bell goes well past 20 years. At my last get together for my modest estate update, i was able to see an assisting employee who was with your firm from the time of my first visit! To me, this is evidence of a stable business that values it’s employees, a key indicator. It provides a sense of security….” – R&K
“….you are all so great to work with. Thank you so much!” – Carol B.
A Little About Us…
Jami Martin – Relationship Manager
Most rewarding part of working with clients to fund their trusts: The feeling once everything is finished and our client is confident with what they/we have done. Sometimes it can be a lengthy, tedious process, so being able to check it off the todo list is a great thing!
Favorite season: Fall is my favorite season because I grew up in Arizona desert and we never had changing trees or rainy fall days.
Favorite Holiday: I love everything about Christmas! A real Christmas tree is a must and I have a Christmas Village that continues to grow every year.
Favorite Food: Queso Fundido from Arriba’s, which is a Mexican Restaurant in Arizona. They also have the best hot salsa and frozen strawberry coconut margaritas.
Jami’s Fabulous Crockpot Salsa Chicken
- 2-4 chicken breasts, frozen
- 1 container of salsa (I use Reser’s Restaurant Style)
- 1 can chicken broth
- Salt & Pepper to taste
- Add chicken to slow cooker.
- Pour salsa and broth over chicken.
- Cook on low 6-7 hours, until you can shred chicken with a fork.
- Shred and add back to juice.
- Cook on low for 30 minutes.
Use it for tacos, salads, enchiladas and nachos!
Families choose Myatt & Bell to design their estate plans with honest optimism and meticulous attention to detail.
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Our ask of you – continue to give us feedback about your experience with M&B, and tell us how we can improve and better meet your needs.
And, if you run into someone who needs help with a will or trust with honest optimism and meticulous attention to detail, tell them about Myatt & Bell, P.C.!