Is Monteforte Law the right fit for you?

Is Monteforte Law, P.C. the right fit for you?

It took me twenty years of being a lawyer to realize that we are not the right fit for everyone and to realize that that’s okay. When I decided to specialize in estate planning and elder law, while eliminating other areas of my practice, I was cutting out a huge section of our potential “audience” and narrowing down the group of people that we help.

For a long time, I basically felt that we could be the right fit for “anyone that needs a Will” or any other type of estate planning. But as I became more and more invested in specializing and honing my expertise, I realized a few things: First, everyone has different problems and goals when it comes to their planning. Second, not everyone has the goals and problems that my expertise is designed to solve. In order for me to be the most helpful, I have to focus on the people who most need my help. Those people that my expertise can benefit the most.

While almost everyone could benefit from some form of estate planning, the specialized problems that we solve have to do with wealth protection, passing wealth to the next generation, avoiding estate taxes, legacy protection, MassHealth long-term care applications, veterans planning, and protecting your home from long-term care costs. Those are very specialized problems, that require specialized training and expertise to solve.

While every person might have some sort of estate planning problem, not everyone’s problems rise to the level that they need someone like me or the experts at my firm to solve it. If you have a cold, you can go see your primary care doctor. But if you are a pitcher for the Boston Red Sox, and you need shoulder surgery, you go to a specialized surgeon. My firm is that surgeon. When people come to us and all they have is a cold, we refer them to a competent and affordable colleague from our referral network. That’s because you don’t need us to cure your cold – you can get that cure elsewhere, faster and cheaper. Instead, our firm focuses on the big problems that need surgery – passing down wealth, preserving wealth, protecting elders from long-term care, MassHealth long-term care, and avoiding estate taxes.

Our focus is much different from a general practitioner that can also do “Wills” along with 3-4 other practice areas. Those firms are fine if you have a cold. A cold can be cured fast and cheaply. If you need surgery, you come to us. Surgery takes longer, it costs more, and it is a continuous process of updating and changing your plan as your life changes. But at the same time, it solves a MAJOR problem in your life, the right way, and accomplishes your goals in the most effective way.

Essentially, we are a small, boutique firm that specializes in solving a specific set of problems for specific clients. We are small enough that we still have that “family feel” but big enough and efficient enough to create complex solutions in a reasonable time. We look to create long-term relationships with our clients, that stretch over years, rather than just a “transactional” relationship that ends when you sign your documents.

Problem-solving is what I do. I am the strategic planner for my firm. I look at each client and family as a unique set of factors, and I create a plan to solve that family’s problems and achieve their goals. Then my staff, including an amazing attorney that has been trained by me, put my plan into action by drafting and working through my prescribed plan with the client.

How do you know if you need surgery, or if you only have a cold?

Below is a list of factors to consider. The bottom line is that we specialize in higher net worth clients because those clients have the problems that our expertise will solve. You need to have a certain amount of wealth before you are worried about passing that wealth down to the next generation and dealing with estate tax issues. While you certainly don’t have to be rich to have estate tax problems (far from it, especially in Massachusetts!), you do need to have a certain level of assets. Our practice is designed specifically for higher-net-worth families that want to keep their money in their own pockets, not the government’s, and pass their assets down through generations. Because our firm is one of the most sought-after estate planning and elder law firms in the area, we cater exclusively to those clients, and we are very particular about who we choose to work with.

If you’re not at that level of wealth, there’s nothing wrong with that, and I can send you to a much cheaper “doctor” to cure your cold. But if you need the surgery, we are the right law firm for you.

While we believe we are the best in the business at what we do, we also recognize that while we are the perfect fit for some, we aren’t a fit for everyone. Below are some factors to help you determine whether we are the right Wealth Preservation Planning Firm for you.

Clients who we work with are:

Moderate to High Net Worth: Clients with a certain level of accumulated wealth and assets will benefit the most from our specialized services. A good benchmark is families making over $100,000 per year or with at least $500,000 in home equity.
Desire for Customized Solutions: Clients who value personalized and tailored plans that address their unique financial situation, family dynamics, and long-term goals. Our clients want to hold on to as much money as they can, keep prying hands way, and want it done RIGHT, not just fast or cheap
Long-Term Vision: Clients who are forward-thinking and have a desire to preserve their assets for future generations, while minimizing estate taxes and protecting against long-term care costs.
Complex Family Dynamics: We are great with traditional families, but we also work with clients who have blended families, children from previous marriages, or dependents with special needs.
Business Owners and Entrepreneurs: Clients who run businesses or are self-employed can benefit from our expertise in business succession planning and protecting their business assets.

Clients who aren't a good fit for us:

Limited Assets and Minimal Estate Planning Needs: Clients with relatively low net worth and straightforward estate planning requirements may find our specialized services unnecessary.
Short-Term Financial Goals: Clients primarily focused only on immediate financial needs and not long-term wealth preservation and asset protection.
Resistance to Change: Clients who are not open to adapting their plans to accommodate changes in their life, family, or legal regulations.
Seeking Cheap Planning Solutions: Clients who want their planning done as cheaply as possible may not fully appreciate the comprehensive and tailored approach of our wealth preservation planning, which is an investment in securing their assets for the future. We refuse to compromise on quality, unlike other firms who only allow a minimum amount of time on each case. Our services are not suited for clients seeking budget-friendly options, as we are dedicated to providing the most effective solutions for long-term asset protection and legacy planning.
Unwillingness to have difficult conversations: Clients who are hesitant to confront the sensitive issues required for the strategic planning session. We need the information so that we can develop the best and most customized plan for you.

Our attorneys take the time to learn about you, your goals, your worries, and your individual finances. If you consider yourself a good fit, be sure to schedule your Strategic Planning Session with us. You can call our office at 978-487-5219, or schedule online!