Documents such as a Last Will and Testament, Durable Power of Attorney and Trust, are key Estate Planning tools that ensure client’s wishes are honored, that the estate is handled the way it was intended, and that the assets are passed to client’s heirs. VM assists it’s clients to draft these documents to avoid costly Probate hearings and tax liabilities. Probate entails authenticating the decedent’s will, paying off the assets of the estate, and distributing the estate’s assets to the heirs, which is often a long and drawn out process. When someone passes with a Trust, a successor trustee is in charge of paying the debts of the estate and distributing assets. This process does not involve the courts, which means the process is far quicker, simpler, and less expensive. A trust often times also bypasses estate taxes, leaving far more assets for the surviving heirs.
VM also created the first of it’s kind Reproductive Estate Plan (REP), which has now become the industry standard in the reproductive community. An REP is designed to offer clients the same type of asset protection they use for their financial estate, but for their Reproductive Estate, i.e. frozen embryos, eggs and sperm. An REP protects the rights and interests of clients and their unborn children in the event of Legal Separation, Divorce, Legal Incapacity or Death. Among other things, the REP is designed to: (1) Resolve intestate parentage/inheritance issues that would result if Intended Parents and/or Recipients decease after contracts have been executed, but before their parental rights have been finalized; (2) Enable Intended Parents to designate legal guardians to make legal and medical decisions, and take custody of their existing and unborn children in the event of their legal capacity or death; (3) designate a third party as an “attorney-in-fact” to act in stead if the Intended Parents are deceased or unavailable; (4) Expressly manifest their intent regarding, the future use and/or disposition of their genetic property, and/or cryo-preserved sperm, eggs or embryos, and the creation of a child(ren) after their death.