Planning your estate will be challenging – it is essential to find an experienced estate planning attorney who you feel comfortable with, considering you’re sharing all your personal and family secrets with them.
Many first-time estate planners are nervous about this process, and feel vulnerable sharing details about their financial assets. This is why it is important to choose an estate planning lawyer you can trust.
Top 5 Questions You Should Always Ask Before Hiring An Estate Planning Lawyer
Here is a list of the top five questions to ask to help you find the right estate planning attorney. In your initial consultation – which usually is free – you should ask your prospective estate planning attorney these questions:
How Long Have You Been Practicing?
It is always best to hire an attorney who has extensive experience. Since they will have faced challenges from courts at some point, they can successfully overcome any hurdles.
Are You Primarily Focused on Estate Planning?
If the estate law attorney affirms this question, you’re good to proceed. This means they have the experience and strategic know-how to cover all the bases when it comes to protecting your hard-earned assets.
Do You Conduct Periodic Reviews?
Some local estate planning attorneys make annual reviews of your affairs in return for a small fee. This is important for all the little adjustments that are essential for economic or life changes. Sometimes, new legislative amendments can potentially change some aspects of your estate planning.
Can You Efficiently Create a Comprehensive Estate Plan Including Trusts, Wills, and Life Insurance?
A comprehensive estate plan might contain multiple trusts, wills, and life insurance plans. Thus, your estate law attorney needs to be knowledgeable in these areas. Only then can they successfully educate you about the nuances of a variety of estate-planning tools. Then you can discern the ones which are right for you.
How Long Does it Take to Complete an Entire Estate Planning Project?
It is important to be proactive with estate planning so an unexpected illness, lawsuit, divorce or death doesn’t derail your family’s finances. It’s important not to rush through the process. Depending upon the assets, you may need to consult with an accountants, money managers or retirement planners in addition to your estate planning attorney.
Since an estate law attorney’s expertise might overlap with these fields, they are incapable of providing sound advice. So take time to gain a broader perspective regarding estate plans and logistical practicalities for implementing them.
Top Tips for Estate Planning
Conclusion
You should have faith in your instincts, but also be sure to ask the right questions to determine whether a particular trust estate attorney is right for you. Since estate planning is a complex procedure, it is imperative to choose an experiences and efficient attorney.
TIPS FOR GOOD ESTATE PLANNING
- Maintain up-to-date wills, trusts, powers-of-attorney and medical directive documents.
- Regularly assess your assets.
- Minimize taxes, accounting and legal expenses.
- Select a trusted legal guardian for your children in your absence.
- Select a responsible person to manage your estate after your death.
