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ep2 program

EP2 Program: Employer-Provided Estate Planning

Providing innovative employee benefits has become a key competitive factor in recruiting and retaining talented staff, but ping pong tables and casual Fridays have lost their luster with today's workforce. Leading employers are shifting their focus to benefits that offer real life impact with great results. To help support our clients' goals—Maslon has created a unique new program called EP2, which provides estate planning benefits for your staff members in a cost-effective and efficient way.

Why is estate planning important to your team members?

Statistics show that 78% of Millennials (ages 18-36) and 64% of Generation Xers (ages 37-52) do not have a will. Every person over 18 should consider having a basic plan in place, with particular attention to establishing a health care directive. A basic estate plan generally consists of wills and/or revocable trusts, health care directives, and financial powers of attorney. We also help clients coordinate all of their beneficiary designations on their life insurance, retirement plans, and other accounts.

How does the EP2 Program work?

  • Step One – Introductory Seminar. One or more Maslon attorneys will present a one-hour program at your office to teach your team members (and spouses, if applicable) about certain estate planning basics (e.g. what is a power of attorney?; what is a health care directive?; etc.).
  • Step Two – Individual Team Member Meetings. After filling out and returning a questionnaire, your team members (and spouses, if applicable) will have an opportunity to meet with one of our attorneys at your office for a 30-minute planning meeting. We generally find that it works well to schedule 4+ meetings consecutively so that it's efficient for your team members and doesn't significantly affect productivity.
  • Step Three – Drafting. It will take only a few weeks for our attorneys to draft estate planning documents for your team members (and spouses, if applicable). We'll then send the draft documents to them for review and invite them to follow-up with their Maslon attorneys directly with questions/changes.
  • Step Four – Signing the Documents. Once the draft documents are finalized, one or more Maslon attorneys will return to your office to have your team members sign their documents (we're all notaries!). Again, we generally find that it works well to schedule 4+ signing meetings at a time.

How much does it cost?

While each company is a bit different, a basic employer-provided plan will generally cost approximately $2,000 per team member and $3,500 per executive. Some companies provide the benefit only for certain levels of employees.

Are there any tax issues to consider?

Since the EP2 Program is a benefit you're providing to your team members, the business should be able to deduct the cost on its income taxes. Like any other benefit, the team members will only pay the income tax on the value of the services. We see this as a win-win for both the employer and the team member! Your accountant should be able to assist you with proper reporting.

Contact any of the Maslon Estate Planning Attorneys Below to Further Discuss the EP2 Program

Susan Link | 612.672.8349 |

Michael Sampson | 612.672.8342 |

Diana Marianetti | 612.672.8364 |

Kevin Rockwell | 612.672.8327 |


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