Estate planning helps you manage your assets and make financial decisions for your future. If you’re ready to begin estate planning, you may wonder, “Where do I begin?”
First, you meet with an attorney for an estate planning consultation. Working with an experienced attorney can ease the stress or uncertainty around planning legal arrangements. It helps to have someone in your corner to ask questions and turn to for reassurance.
A trusted lawyer provides you with easy-to-understand information regarding your circumstances. The first step in estate planning is to meet with your legal team to review your assets and discuss what you want to accomplish with your estate.
Estate Planning Consultation
Here’s what you can expect at your estate planning consultation.
Get to Know You
Your attorney will ask questions to get to know you better. This helps them understand who you are and what you need from the estate planning process. The lawyer may ask:
- Are you single or married?
- How many children and grandchildren do you have?
- What assets do you own, and how are they titled?
These questions help your attorney know what to expect and the best ways to help you.
Review Your Assets
Bring any prior estate planning documents to the consultation so your lawyer can advise whether you need to replace or update any outdated information. The assets you review include:
- Properties
- Investments
- Bank accounts
- Retirement accounts
- Liabilities (such as debts or mortgages)
This information helps your attorney understand where you stand and what you need from an estate plan. Together, you can discuss how to protect your assets, ensure a smooth transfer of wealth, provide for your loved ones, and reduce potential issues. Working with an experienced estate planning attorney can help you create a plan that best fits your wishes.
Make Decisions
Do you have specific intentions for how your assets should be distributed? You can discuss designating a beneficiary for your estate. Your attorney will help guide you through making designations for bank accounts, retirement plans, life insurance policies, and more.
Other important factors you should consider before your consultation include:
- Who will make medical and financial decisions on your behalf if you’re unable to do so?
- Should you name a guardian for your children?
- Have you decided what your children will inherit in the event of your passing?
- How would you like to protect your assets if you need long-term care?
While these questions may sound personal, rest assured that your attorney is taking time to learn about you so they can use the best strategies to help you meet your goals. Remember to ask questions so you can gain a clear understanding of what to expect in the estate planning process.
An estate planning consultation is a time for you and the attorney to get to know one another and make arrangements for the future. Try to be open and honest about your circumstances so the attorney can offer the best advice and recommendations for your situation.
Estate Planning at Auld Brothers Law
The attorneys at Auld Brothers Law are here to help you take steps toward your future. Our team provides a personalized estate planning consultation to ensure our clients have the best experience possible.
Estate planning services at Auld Brothers Law include:
- Asset protection
- Business succession planning
- Private wealth management
- Guardianships
- Trusts
- Special needs trusts
When you work with Auld Brothers Law, you can expect clear information from a team dedicated to helping you achieve your goals. Schedule your free consultation today.