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Asset Coordination

Asset coordination simply means that we here at HighPoint Law Offices go the extra mile to make sure that all of the beneficiary designations on your bank accounts, life insurance policies, 401K plans, etc. match up with the legal documents that we prepare for you.  It sounds simple, right?  Even expected.  Yet we’re shocked at how many firms don’t include this service in their estate planning process.

Why do we feel that Asset Coordination is such a vital service?  Because if this function is not carried out to the letter of the law, then your legal documents simply won’t work.  The beneficiary designations at your financial institutions take priority over those designated in your legal will or trust.

For example, if documents at your bank say that your ex-spouse is the beneficiary of the family fortune in an account there, then that’s what will be enforced.  Even the most brilliantly crafted Will or Trust becomes useless in the face of an institution's beneficiary designation, no matter how outdated.

At HLO, we don't take that risk.  We do all of the legwork, contacting your banks, financial institutions, and insurance agencies to ensure that all of your beneficiary designations are properly aligned with your estate planning documents.  We call this absolutely essential service "Asset Coordination," and it’s included in each and every estate plan we craft.  

 

 


HighPoint Law Offices assists clients with Estate Planning, Probate and Estate Administration, Medicaid Planning and IRA Preservation in Chalfont, Pennsylvania and surrounding areas including Bucks, Montgomery, Philadelphia, Lehigh, Monroe and Northampton Counties.



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200 Highpoint Drive, Suite 211, Chalfont, PA 18914
| Phone: 215-997-9773

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