Planners affiliated with Million Voorhees Ziebold LLP (dba Family Office Law LLP) share their best ideas with clients during a Free Initial Consultation. At the end of each Initial Consultation, the planners will summarize ideas verbally or in writing. The written summary is referred to as a Value Proposition Letter ("VPL").
The VPL typically reviews how the benefits of moving forward with planning far exceed the costs of planning. The client can clearly understand the value proposition offered by the planners before the client pays for planning. The VPL will give verbal and quantitative summaries of how the client can develop his or her wealth plan with or without the involvement of Family Office Services.
Our firm offers $500 Virtual Initial Consultations for prospective Clients referred by an adviser in our network. The Virtual Initial Consultations are explained at www.VirtualLawyer.info. As part of the virtual process, we review client documents* before a webinar, present solutions on a webinar, and communicate a value proposition at the end of the webinar. The $500 fee credits toward the cost of phase 2 design work or phase 3 legal document drafting work.
* Before either a Free Initial Consultation or a Virtual Initial Consultation, our attorneys are available to review the "BIG Docs." See www.vfos.com/BIGDocs. When reviewing the balance sheet, income tax returns, goals, and existing legal documents, we consistently spot significant opportunities to reduce taxes, reduce risks or otherwise achieve client goals.
We draft and implement legal documents during Phase 3 of the planning process. Quick Tour Slide 13 (pictured below) shows how the Phase 1 Initial Consultation can lead to Phase 2 planning phase before we draft trusts, LLCs, and other legal instruments as part of Phase 3. Phases 1 and 2 are optional We summarize costs and benefits of Phases 1 and 2 so you can decide whether you want to start with an initial consultation (Phase 1) and a plan (Phase 2) before jumping into the document drafting process (Phase 3).
We offer the Initial Consultation to any client who brings a balance sheet and copies of any current wills or trusts. When we schedule the Initial Consultation, we will ask the client about his/her goals and assets so that we will know which attorneys or planners should participate in the Initial Consultation. When appropriate, we are happy to involve a client’s other advisers in the Initial Consultation. The adviser referring the client typically attends the first Initial Consultation and shares his or her knowledge about the client’s goals and assets.
During the Initial Consultation, we will share our best ideas at no cost to the client and only charge if the client wants our ideas in writing. The cost for summarizing planning cost and benefit is $0 if we simply put the numbers on the large screen in our office. The VPL will typically show how total planning and implementation costs less are less than 1% of estate tax savings and/or less than 5% of income tax savings.
When we offer the Initial Consultation outside of our office (in person), we charge $1,000 plus travel costs. It is therefore much lower cost to come to our office (with BIG Docs) for a free consultation or pay $500 for a Virtual Consultation (via webinar).
Feel free to schedule a first Initial Consultation by contacting an attorney or planner affiliated with Family Office Law. To schedule am Initial Consultation with Tim Voorhees or other attorneys at his firm in Costa Mesa, please call 800-447-7090 or send an email to Tim@vfos.com.