“Every time I’ve had to call on them – and believe me, there have been a lot of times – they’ve always taken care of it immediately. They have always bent over backwards to help me do what needed to be done.”
Carol and AJ came to Greg Jacobs for estate planning in 1995. AJ had recently retired, and at the time there was an estate tax exemption of only $600k per person. The couple needed sophisticated estate planning to help them minimize the tax burden at the time of their death so that they could pass their wealth on to their children.
Greg helped them establish a solid plan and then revisited it periodically over the years. As time passed and the estate tax exemption increased, the clients’ net worth also decreased due to market forces, including the internet and real estate bubbles, and the fact that they were spending down assets in retirement. Because of these changing dynamics, some of the earlier planning needed adjusting and simplifying once the couple was no longer subject to estate tax.
Like many retired couples, AJ and Carol maintained residences in two states but considered themselves Florida residents for tax purposes. In 2010, AJ passed away. Jacobs & King handled the estate in Florida, and Carol was relieved to find that the process was very simple because of the careful plans that had been created earlier. Carol says about dealing with the estate, “It was perfect. Everything was up to date and in order.”
Carol was a little intimidated when suddenly required to deal with finances and legal matters alone, since her husband had always been the one to handle these things. She recalls the period as one full of new experiences, “I was learning about so many things. I had a big tax lien, and they helped me with that; there was a problem with the mortgage and they dealt with that…I needed help with my taxes, and they helped take care of that too.”
She continues to turn to Jacobs & King for advice and assistance with issues ranging from technical, legal and insurance matters to very practical, non-legal issues that come up in her life. With an 18-year history of working together, she knows she can count on Jacobs & King to look out for her interests and ensure that things go smoothly. “Every time I’ve had to call on them – and believe me, there have been a lot of times – they’ve always taken care of it immediately. They have always bent over backwards to help me do what needed to be done.”