Estate planning is a must in the modern world. You want to make sure all of your assets go where you want once you’ve passed away. The right estate planning will ensure that your wishes are carried out in full. Speaking with a skilled and thoughtful estate attorney is an ideal way to set that process in motion right now. This is where we come in. We’ll help you get your plans off the ground and in place. Before you attend an initial estate planning meeting, it helps to be prepared. These questions will ensure that you come away from the meeting feeling satisfied that everything is as you wish.
How Much Will It Cost?
All contemporary attorneys charge different rates for their services. Some lawyers charge a flat fee and ask for a retainer. A retainer is a sum of money that is set aside to pay all potential legal costs as a legal process continues. Other lawyers charge by the billable hour. This is a sum of money you pay for each hour of their time as they work on your estate. At our firm, we offer a free initial legal consultation. That helps you get a feel for the kinds of issues you’ll face when it comes to your estate planning goals right now. That way, you can see why you can trust us to help you with your plans.
Can We Conduct Periodic Reviews?
Life doesn’t stand still, and neither should your estate plans. Your current situation is likely to change as you look to the future. You may get a separation or divorce from your spouse. Your younger children may move out of the house. You might have grandchildren and wish to pay for their education. These issues will all impact your overall estate plans. Effective estate planning recognizes such changes and allows for the freedom to respond to them. A good attorney can help you make such changes as your life undergoes different stages. We’ll help you come up with a plan to review your estate planning documents as often as needed when circumstances in your life or the life of your spouse start to change.
What About a Comprehensive Estate Plan?
Some people have very simple estates and simple estate plans. All they need are a few documents in place and they’re done with estate planning. Others may have more complicated estates. Some people have lots of assets. This can include dividend paying stocks as well as mature bonds. It may also include a pension with survivorship rights, a thriving business venture, and multiple pieces of real property. They will need to come up with a plan that addresses their assets and takes advantage of all the tools they have at their disposal to achieve a pleasing result. They may need estate planning that also involves obligations to a former spouse as well as their current business partners. Effective estate planning can help address these issues and work them out in a satisfactory manner.
How Long Will It Take?
During the first meeting, you’ll want to come up with a timeline. There’s no rush. However, you want to pin down the specifics of the policies you have in mind. The first meeting with your estate attorney is a great chance to get a feel for the entire process of estate planning. You can ask questions about any further meetings that may be necessary to get the process in place. You can also ask questions about what will happen once you’ve had the initial meetings. You may need to have more sessions with more documents for the attorney to examine in greater detail and come up with an overall financial estate plan.
What Else Should I Know?
There are lots of legal terms related to the process of estate planning. For example, you might have heard of a revocable living trust. This can help you avoid what is known as probate. Other terms such as living wills may also come up during the meeting. Be prepared to ask questions. If you don’t know exactly what a given legal term actually means, now is the time to make sure you understand it. This is your chance to have your questions answered by an expert.