Our Process

Naturally you want to know how exactly we at Lowry & Lowry go about handling your estate and business planning needs.  We do things a little differently than most firms, which is why our clients love working with us.

Working With Our Firm

Our process is designed to create a plan that actually works for you and your family.  We don’t reinvent the wheel for each client.  Instead, we use a series of time-tested steps to make sure that you get a plan that is properly designed and implemented as quickly as possible, usually within six weeks of your initial meeting.

Regardless of how you came to our firm, whether by referral from a satisfied client, referral from your professional advisor, a workshop or our website, your first step is to schedule an initial consultation with Mr. Lowry.

New Client Welcome Package

Once your meeting is scheduled, we will send you a Welcome Kit that contains a Personal Information Checklist, directions to our office, biographical information and other helpful information.  You can also download the Personal Information Checklist from our website.

Personal Information Checklist

Please fill in the Checklist as accurately and completely as you can, but don’t let this Checklist get you frustrated.  If you aren’t sure what we want, call our office at 502-587-7754 for help.  If you can’t locate some information, just put down the best information that you have.

Please gather the supporting documents requested in the Checklist.  That will allow us to cross-check some critical information.  You can bring these documents to our initial meeting and we will make copies at that time.

If you are working with a financial advisor, he or she can help you put together the necessary information.  Most of the advisors we work with are familiar with our new client process and can help you with this step.

Once you have completed the Personal Information Checklist, you can deliver or mail it to my office with the supporting documents requested, preferably 3 days before the initial meeting, so we can review it and better prepare for our meeting.  This will allow us to better answer your questions at the first meeting and save you professional fees.

If you prefer, you can bring the Checklist and supporting documents to your first meeting.

Initial Meeting

The initial meeting is an opportunity for us to get to know each other and see if we can work together to create a plan that works for you and your family.  There is no fee for this meeting and no obligation.

This meeting will last about one to two hours.  During that time, we will discuss your family and financial situation.  We will explain what would happen under your current plan if you become mentally incapacitated or die.  If you have concerns about your current plan, we will offer some solutions that have worked for other clients.  You will have an opportunity to ask questions about your situation and about estate planning in general and our process.

If it looks like we can work together, we will give you a flat fee quote for the work that is necessary for your situation and prepare a fee agreement for your review.

We can then begin designing your plan or we can schedule a separate design meeting for about two weeks later.

Design Meeting

The design meeting will take anywhere from 1 to 5 hours depending on the complexity of your situation.  Each family is unique and we will take the time that is necessary to develop a strong understanding of your family situation and discuss the numerous planning options you have.

We will discuss the pros and cons of each planning option so you can make informed choices.  We can provide you with additional written information or book references if you want to study more before making final decisions about your plan.  We try to create a “thinking environment” for you so that you can really make good choices for your plan.

We will draw your plan on a white board to illustrate your choices and make notes as you make decisions.  This will serve as our blueprint for your plan.  We will print a copy of that blueprint so that you can take it home and study it further if you like.  We will use that blueprint to draft your specific instructions.

Signing Meeting

Once your plan is designed, we will schedule a signing meeting for about two weeks later.  During that time, we will draft your documents and review them for accuracy.  We generally do not send drafts of documents to you for review because we don’t expect you to decipher complex legal documents.  Rather, we will go over these documents in detail with you at the signing meeting.  (Naturally, if you request a draft in advance, we are happy to provide that to you.)

The signing meeting will take about 1 to 5 hours, again depending on the complexity of your plan.  We will thoroughly explain your documents to you using examples and plain English so you can be sure that the documents match your plan design.  We will answer all of your questions.

If you want to make changes to your instructions, we can usually make the changes on the spot.  We know you are busy and your time is valuable, so we make every effort to make this an efficient process without unnecessary delays or extra meetings.

Once you are completely satisfied with your instructions, you will sign your documents.  We will then make copies and provide you with your original documents and a CD with your scanned documents for archiving.

We will then discuss funding your plan.

Funding Meeting

Many plans fail to work because the client or the attorney does not take care of the funding.  This is a critical step in your planning, and we will help you ensure that your plan is properly funded.

Some plans will require a separate meeting to review all of the funding documents.  This meeting is usually scheduled for about two weeks after the Signing Meeting and takes about 1 to 2 hours.

We will prepare the funding documents and review them with you to be sure they are correct.  This usually involves changing beneficiary designations on life insurance and retirement plans, and also can include re-titling other assets so the plan works properly.

Once you are completely satisfied with the funding documents, you will sign them and then we take care of sending them to the proper office for recording.  We then obtain written confirmation that the change has been properly recorded.  Again this is a critical step that is overlooked because companies will often make mistakes when recording your changes.  If that happens, we catch it and then contact the company to obtain correct documentation.

When we have all confirmations, we will send you a letter with those confirmations so you can double-check everything.  If all documents are in order, the initial set-up of your plan is complete.

Regular Review

Once your plan is completed, you will have the opportunity to enroll in our Annual Maintenance Program.  This program will ensure that your plan stays up to date so it will work for your lifetime.