Wills are legal documents that outline your final wishes regarding the distribution of your assets and property.

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The Pros and Cons of Probate in Las Vegas

In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible.

That being said, the probate system was ultimately established to protect the property of the deceased and his/her heirs, and in a few cases it may even work to an advantage.

Let’s look briefly at the pros and cons of going through probate.

The Pros of Probate

For some estates, especially those in which no will was left, the system works to make sure all assets are distributed according to state law.

Here are some potential advantages of probating an estate:

  • Provides a trustworthy procedure for redistributing the property of the deceased if no will was left.
  • Validates and enforces the intentions of the deceased if a will exists.
  • Ensures taxes and claimed debts are paid on the estate, so there’s a finality to the deceased person’s affairs, rather than an uncertain, lingering feeling for the beneficiaries.
  • If the deceased was in debt, probate gives only a brief window for creditors to file a claim, which can result in more debt forgiveness.
  • Probate can be advantageous for distributing smaller estates in which estate planning was unaffordable.

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The Cons of Probate

While probate is intended to work fairly to facilitate the transfer of property after someone dies, consider bypassing the process for these reasons:

  • Probate is a matter of public record, which means personal family and financial information become public knowledge.
  • There may be considerable costs, including court, attorney, and executor fees, all of which get deducted from the value of the estate.
  • Can be time-consuming, holding up distribution of the assets for months, and sometimes, years.
  • Probate can be complicated and stressful for your executor and your beneficiaries.

The Bottom line

While probate is a default mechanism that ultimately works to enforce the fair distribution of even small estates, it can create undue costs and delays. For that reason, many people prefer to use strategies to keep their property out of probate when they die.

A skilled estate planning attorney can develop a strategy to help you avoid probate and make life easier for the next generation. For more information about your options,  call us at 1-720-660-9847 to schedule a free consultation.

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The Top 2 Ways the Court Gets Involved in Your Estate

No one wants unnecessary court involvement in their life. But without careful and proactive estate planning, chances are that some aspect of your estate will end up being decided there.

Here are two of the most common ways court proceedings can make their way into the management and distribution of your assets, along with the estate planning measures you can take to avoid them.

Guardianship and Conservatorship

If you experience an inability to make decisions on your own behalf, also known as legal incapacity, and you don’t have provisions for what to do in this situation clearly outlined in your estate plan, it falls upon the guardianship or conservatorship court to decide who will become responsible for handling your finances, lifestyle, and medical care. You can become legally incapacitated because of an accident, injury, or degenerative illness. In the case of guardianship and conservatorship (sometimes called “living probate”), your estate’s details, as well as discussion about your medical conditions, may be made public and be the topic of court proceedings.

How to avoid it: To make sure the government doesn’t get involved in your wealth management and health care during your lifetime, you need to determine who will be your power of attorney. You can appoint durable and medical powers of attorney for various categories of management in your life and estate. A solid long-term care plan, living will, and fully-funded revocable trust are also crucial components in avoiding living probate proceedings.

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The Probate Process

Probate is the name for the court proceeding that takes place after your death to prove that your will is valid and that its terms are carried out accurately and legally. Probate brings your financial and personal affairs out into the open via public forum, and your estate can dwindle due to legal fees incurred during this time. It can also take an excessive amount of time due to the slow nature of court proceedings, dragging out a potentially stressful episode for your family.           

How to avoid it: Having a will does not avoid probate, since all wills must go through probate to be validated. Although you’ll often hear about joint tenancy, beneficiary designations, and other probate avoidance options as alternatives to wills, only a fully funded revocable trust can consolidate the management and preservation of all types of assets. So, the best way to avoid probate is to work with your estate planning attorney to establish and fully fund a revocable living trust and name your beneficiaries and trustees ahead of time.

We’re here to help

Estate planning can be a daunting thing to consider when you’re busy. And we know you are. That’s why we work diligently to present you with the best estate planning tools and strategies in a straightforward manner, letting you get back to focusing on what’s most important to you. Call us at 1-720-660-9847 today to schedule an appointment.

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Get Your Affairs in Order With Estate Planning

The idea of getting your financial and legal house in order is likely the last thing on your mind during the busy holiday season. But, getting started with estate planning is much easier than you think. In fact, the end of the year is a good time to reflect upon the year that has passed and focus on your aspirations for the future. Don’t hold this task off for later. Some careful thought and a little bit of work now can go a long way to help you feel 100% confident about moving forward in the new year.

In preparation for the upcoming tax season, you may have already begun gathering some paperwork, like your property tax bill, year-end mortgage statement, or final pay stubs. Although filing your income taxes is different than putting your affairs in order, you’re already in paperwork “mode”, so now is the perfect time to reassess your legal and financial situation to create a new plan or update an existing one that no longer suits your circumstances.

Basic Estate Planning

All you need to do is start with a general list of everything that you own. You don’t have to complete a comprehensive inventory. Think instead about categories of assets, like bank accounts, life insurance, real estate, vehicles, etc.

Then, draw out your family tree and think about who you would like to receive what you’ve spent your lifetime building. If you don’t put your wishes in writing, your estate – everything you’ve worked so hard to build – may be liquidated and will be distributed according to the government’s plan, known as intestacy.

The foundation of all estate plans are wills and trusts. Which one is the best for you depends on your individual circumstances.

A will is a written legal declaration of your intentions on how you want your property disposed of upon death. This document is not legally enforceable until after your passing and, therefore, it can be changed at any time before you die or have diminished mental incapacity. A will allows you to control what happens after you are gone.

A trust is a legal arrangement where a trustee manages property for the benefit of the beneficiaries. There are many kinds of trusts, ranging from living trusts to complex dynasty trusts. Each type of trust has its own benefits and drawbacks, so talk with us about which one is the best fit for your circumstances.

Although there are many types of trusts, the one most people need is a living trust. It’s a great alternative to a will, because it can be changed during your life, can provide financial protection should you become incapacitated, and yet often is easier and less expensive for your family to handle upon your death.  Another common type of trust is a testamentary trust, which is one that is contained within the provisions of the will. Just like a will, a testamentary trust is not operative until your death, making them a little less flexible and more limited in function.

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Benefits of Estate Planning

Estate planning can help provide financial stability for loved ones, designate a guardian for minor children or disabled family members, distribute property to chosen charitable organizations, reduce tax liabilities, and achieve other personal and family goals. Organizing your financial and legal affairs is your opportunity to make impactful decisions on your assets, money, and healthcare and leave a legacy after you are gone.

Planning your estate may feel like a daunting task. We’re here to help. You don’t have to do this alone. Call us at 1-720-660-9847 to discuss your options and organize your future.

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4 Tips for Avoiding a Will or Trust Contest

A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest.

If you are concerned about challenges to your estate plan, consider the following:

1. Do Not Attempt “Do It Yourself” Solutions

If you are concerned about an heir contesting your estate plan, the last thing you want to do is attempt to write or update your will or trust on your own. Only an experienced estate planning attorney can help you put together and maintain an estate plan that will discourage lawsuits.

2. Let Family Members Know About Your Estate Plan

When it comes to estate planning, secrecy breeds contempt. While it is not necessary to let your family members know all of the intimate details of your estate plan, you should let them know that you have taken the time to create a plan that spells out your final wishes and who they should contact if you become incapacitated or die.

3. Use Discretionary Trusts for Problem Beneficiaries

You may feel that you have to completely disinherit a beneficiary because of concerns that a potential beneficiary will squander their inheritance or use it in a manner that is against your beliefs. However, there are other options than completely disinheriting someone. For example, you can require that the problem beneficiary’s share be held in a lifetime discretionary trust and name a third party, such as a bank or trust company, as trustee.

This will ensure that the beneficiary will only be entitled to receive trust distributions under the terms and conditions you have dictated. You will also be able to control who will inherit the balance of the trust if the beneficiary dies before the funds are completely distributed.

4. Keep Your Estate Plan Up to Date

Estate planning is not a one-time transaction – it is an ongoing process. Therefore, as your circumstances change, you should update your estate plan. An up-to-date estate plan shows that you have taken the time to review and revise your plan as your family and financial situations change. This, in turn, will discourage challenges since your plan will encompass your current estate planning goals.

Seek Will or Trust Contest Help

By following these four tips, your heirs will be less likely to challenge your estate planning decisions and will be more inclined to fulfill your final wishes. If you are concerned about heirs contesting your will or trust, you should seek professional advice now. Call us at 1-720-660-9847 today to schedule a free consultation and learn more about how we can help.

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What To Do After a Loved One Dies

If you’ve been appointed an executor of a loved one’s estate or a successor trustee, and that person dies, your grief – not to mention your to-do list, including tasks ranging from planning the funeral, coordinating relatives coming in from out of town and (eventually) meeting with a trust administration or probate lawyer – can be quite overwhelming. First and foremost, take care of yourself during this emotional time.

To help you with the “business” end of things, here’s a quick estate planning checklist of crucial details that will make the trip to our office to handle legal affairs easier. I know it can be difficult, but some of these things have a deadline, so make sure that you reach out sooner rather than later:

  • Secure the deceased’s personal property (vehicle, home, business, etc.).
  • Notify the post office.
  • If the deceased wrote an ethical will, share that with the appropriate parties in a venue set aside for the occasion. You may even want to print it and make copies for some individuals.
  • Get copies of the death certificate. You’ll need them for some upcoming tasks.
  • Notify the Social Security office.
  • Take care of any Medicare details that need attention.
  • Contact the deceased’s employer to find out about benefits dispensation.
  • Stop health insurance and notify relevant insurance companies. Terminate any policies no longer necessary. You may need to wait to actually cancel the policies until after you’ve “formally” taken over the estate, but you can often get the necessary paperwork started before that time.
  • Get ready to meet with a qualified probate and trust administration attorney. Depending on the circumstances, a probate may be necessary. Even if a probate is not needed, there is work that needs to be done to administer the trust properly. Here’s what you need to gather:
  1. The deceased’s will and trust. If the original of the deceased’s will or trust can’t be located, contact us as soon as possible and bring any copies you do have.
  2. A list of the deceased’s bills and debts. It’s often easier to bring the statements or the actual credit cards into the office rather than try to write out a list, but do whatever is easiest for you.
  3. A list of the deceased’s financial advisors, insurance agents, tax professionals, and other professional advisors.
  4. A list of the deceased’s surviving family members, including their contact information when available. Even if they’re not named in the trust, the attorney will need to know about everyone in the family.
  • Cancel your loved one’s driver’s license, passport, voter’s registration, and club memberships.
  • Close out email and social media accounts, and shut down websites no longer needed. Depending on circumstances, to take these steps, you may need to wait until you’ve “formally” taken over the estate, but you can often learn the procedures and be ready to act.
  • Contact your tax preparer.

You may be thinking about handling all the paperwork yourself. It’s a tempting thought – why not keep things as simple as possible? – but a “DIY” approach to this process might cost you and your family dearly. Read on to understand why.

Consequences of Mishandling an Estate: Examples from Real Life

Example #1: Failing to disclose assets to the IRS.

Lacy Doyle, a prominent art consultant in New York City, inherited a large estate when her father passed away in 2003. He allegedly left her $4 million, but she only disclosed fewer than $1 million in assets when she filed the court documents for the estate. Per the New York Daily News: “She opened an ‘undeclared Swiss bank account for the purpose of depositing the secret inheritance from her father’ in 2006 — using a fake foreign foundation name to conceal her identity… [she also] didn’t report her interest in the hidden accounts — nor the income they generated — from 2004 to 2009.” As a result of these alleged shenanigans and Doyle’s failure to report the accounts to the IRS, she was arrested, and she now faces a six-year prison sentence.

Example #2: Misusing power of attorney.

Another famous case of an improperly handled estate involved the son of a famous New York socialite, Brooke Astor. Her son, Anthony Marshall, was convicted of misusing his power of attorney and other crimes. Per a fascinating Washington Post obituary: “In 2009, Mr. Marshall was convicted of grand larceny and other charges related to the attempted looting of his mother’s assets while she suffered from Alzheimer’s disease. He received a sentence of one to three years in prison but, afflicted by congestive heart failure and Parkinson’s disease, was medically paroled in August 2013 after serving eight weeks.”

Some Key Takeaways

  1. Seek professional counsel to avoid even the appearance of impropriety when handling an estate.
  2. Bear in mind that errors of omission and accident can be costly – even if your intent was good. An executor who makes distributions from an estate too soon can get into serious trouble, for instance. An executor’s personal assets can wind up in jeopardy if his or her actions cause an estate to become insolvent.
  3. Even if you’re well organized and knowledgeable about probate and estate law, it’s surprisingly hard to anticipate what can go wrong. There are many ways to end up in hot water when you’re handling the estate or trust of a loved one.

We’re here to help you steer clear of the obstacles and free you to focus on yourself and your family during this difficult time. We can help you manage the estate and trust-related concerns. Call us at 1-720-660-9847  today to schedule a free consultation.

Who Should Be Your Successor Trustee?

If you have a revocable living trust, you probably named yourself as trustee so you can continue to manage your own financial affairs. But eventually, someone will need to step in for you when you are no longer able to act due to incapacity or after your death. Your successor trustee plays an important role in the effective execution of your estate plan.

Key Takeaways:

  • Because successor trustees have a lot of responsibility, they should be chosen carefully.
  • Successor trustees can be your adult children, other relatives, a trusted friend, or a corporate or professional trustee.

Responsibilities of A Successor Trustee 

At Incapacity: If you become incapacitated, your successor will step in and take full control of your trust for you – making financial decisions involving trust assets, even selling or refinancing assets, and other tasks related to your trust’s assets.

Since your trustee can only manage assets that the trust owns, it’s vitally important that you fully fund your trust. Your successor may also be involved in paying bills and helping to ensure you get the care you need.

After Death: After you die, your successor acts similar to an executor of an estate. The successor takes an inventory of your assets, pays your final bills, sells assets if necessary, has your final tax returns prepared, and distributes your assets according to the instructions in your trust.

Like incapacity, the successor trustee is limited to managing assets that are owned by the trust, so fully funding your trust is vitally important.

Your successor trustee typically acts without court supervision, which is why your affairs can be handled privately and efficiently – and probably one of the reasons you have a living trust in the first place. But this also means it will be up to your successor to get things started and keep them moving along.

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An Important Consideration

Your successor will be able to do anything you could with your trust assets, as long as it does not conflict with the instructions in your trust document and does not breach fiduciary duty.

It isn’t necessary for the successor trustee to know exactly what to do and when, because your attorney, CPA, and other advisors can help guide him or her, but it is important that you name someone who is responsible and conscientious.

Who Can Be Successor Trustees

Successor trustees can be your adult children, other relatives, a trusted friend or a professional or corporate trustee (bank trust department or trust company). If you choose an individual, you should name more than one in case your first choice is unable or unwilling to act.

What You Need to Know:

Your successor trustee should be someone you know and trust, someone whose judgment you respect and who will also respect your wishes.

When choosing a successor, keep in mind the type and amount of assets in your trust and the complexity of the provisions in your trust document.

For example, if you plan to keep assets in your trust after you die for your beneficiaries, your successor would have more responsibilities for a longer period of time than if your assets will be distributed all at once.

  • Consider the qualifications of your candidates, including personalities, financial or business experience, and time available due to their own family or career demands. Taking over as trustee for someone can take a substantial amount of time and requires a certain amount of business sense.
  • Be sure to ask the people you are considering if they would want this responsibility. Don’t put them on the spot and just assume they want to do this.
  • Trustees should be paid for their work; your trust document should provide for fair and reasonable compensation.

Rest assured, we can help you select, educate, and advise your successor trustees. You are not alone. If you have any questions or concerns, contact us today to schedule an appointment with us.

Wills vs. Trusts: A Quick & Simple Reference Guide

Confused about the differences between wills and trusts?  If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics with our wills vs. trusts guide.

Here’s a quick and simple wills vs. trusts guide:

What Revocable Living Trusts Can Do – That Wills Can’t

  • Avoid conservatorship and guardianship. A revocable living trust allows you to authorize your spouse, partner, child, or other trusted person to manage your assets should you become incapacitated and unable to manage your own affairs. Wills only become effective when you die, so they are useless in avoiding conservatorship and guardianship proceedings during your life.
  • Bypass probate. Property in a revocable living trust does not pass through probate. Property that passes using a will guarantees The probate process, designed to wrap up a person’s affairs after satisfying outstanding debts, is public and can be costly and time-consuming – sometimes taking years to resolve.
  • Maintain privacy after death. Wills are public documents; trusts are not. Anyone, including nosey neighbors, predators, and unscrupulous “charities” can discover the details of your estate if you have a will. Trusts allow you to maintain your family’s privacy after death.
  • Protect you from court challenges. Although court challenges to wills and trusts occur, attacking a trust is generally much harder than attacking a will because trust provisions are not made public.

What Wills Can Do – That Revocable Living Trusts Can’t

  • Name guardians for children. Only a will – not a living trust or any other type of document – can be used to name guardians to care for minor children.
  • Specify an executor or personal representative. Wills allow you to name an executor or personal representative – someone who will take responsibility to wrap up your estate after you die. This typically involves working with the probate court, protecting assets, paying your debts, and distributing what remains to beneficiaries. But, if there are no assets in your probate estate (because you have a fully funded revocable trust), this feature is not necessarily useful.

What Both Wills & Trusts Can Do:

  • Allow revisions to your document. Both wills and trusts can be revised whenever your intentions or circumstances change so long as you have the legal capacity to execute them.

WARNING: There is such a thing as an irrevocable trust, which cannot be changed without legal action.

  • Name beneficiaries. Both wills and trusts are vehicles that allow you to name beneficiaries for your assets.
  • Wills simply describe assets and proclaim who gets what. Only assets in your individual name will be controlled by a will.
  • While trusts act similarly, you must go one step further and “transfer” the property into the trust – commonly referred to as “funding.” Only assets in the name of your trust will be controlled by your trust.
  • Provide asset protection. Trusts, and less commonly, wills, are crafted to include protective sub-trusts which allow your beneficiaries access but keep the assets from being seized by their creditors such as divorcing spouses, car accident litigants, bankruptcy trustee, and business failure.

Learn More About Wills & Trusts Today

While some of the differences between wills and trusts are subtle; others are not. That is why we created the wills vs. trusts guide to reference. Together, we’ll take a look at your goals as well as your financial and family situation and design an estate plan tailored to your needs. Call us today and let’s get started.

What Is Dying Intestate: Can A Will or Trust Help

What Is Dying Intestate: Can A Will or Trust Help

Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either.

Here’s what will generally happen if you die, intestate without a will or trust. For this example, we’re assuming you have children, but no spouse:

  1. If you should die intestate, your estate will go through probate and all the world will know what you owned, what you owed, and who got what. Your mortgage company, car loan company, and credit card companies will all seek payment on balances you owed at the time of your death.

After that, state law will decide who gets what and when.

  • For example, if your only heirs are your children and you have not provided any instructions, state law will mandate divvying up proceeds equally.
  • Your older children will get their shares immediately if they’ve attained adulthood.
  • But, the court will appoint a guardian to manage the money for your minor children until they become adults.
  • Shockingly, that guardian can charge a lot of money and be a total stranger – as can the guardian who raises your child.
  • Yes, if you die without a valid will, the court, not you, will decide who raises your minor children.

Some Things To Consider About Wills and Trusts

Keep in mind that since your death has been published to alert valid creditors, it’s not uncommon for predators (fake creditors) to come forth and make demands for payment – even if they’re not owed anything.

The bottom line? Dying intestate allows state law and the court to make all the decisions on your behalf – regardless of what your intent might have been. Publicity is guaranteed.

  1. If you should die with a valid will, your assets will still go through the probate process. However, after creditors have been satisfied, the remaining assets go to whom you’ve identified in your will.
  • So, if you want to leave money to your children and name a guardian for the minor ones, the court will usually abide by your wishes.
  • The same holds true if you specified that you wanted to give assets to a charity, your Aunt Betty, or your neighbor.
  • Keep in mind that predatory creditors are still an issue as your death has been publicized. Even with a will, probate is a public process.

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The bottom line? While a court oversees the process, having a will allows you to tell the court exactly how you want your estate to be handled. But, a public probate is still guaranteed.

  1. If you’ve created a trust, you’ve taken control of your estate plan and your assets. Trust assets are not subject to the probate process and one of the most important benefits of trusts is that they are private. Notices are not published, so you avoid predators coming after your estate.

You’ll have named a trustee to manage your estate with specific instructions on how your assets should be dispersed and when.

  • One word of caution – trusts must be funded in order to bypass probate.
  • Funding means that your assets have been retitled in the name of your trust.
  • Think of your trust as a bushel basket. You must put the apples into the basket as you must put your assets into the trust for either to have value.

You do still need a will to leave any assets inadvertently or intentionally left out of your trust and to name guardians for minor children.

Call Williams Starbucks To Help You Navigate The Process

The bottom line? Trusts allow you to maintain control of your assets through your chosen trustee, avoid probate, and leave specific instructions so that your children are taken care of – without receiving a lump sum of money at an age where they are more likely to squander it or have it seized from them.

Don’t let the will versus trust controversy slow you down. Contact us or call the office today; we’ll put together an estate plan that works for you and your family whether it be a will, trust, or both.

5 Factors to Consider When Selecting a Guardian for Your Children

There is no question that having children changes everything — and estate planning is no exception. If you and your spouse pass away or become legally incapacitated, and arrangements were never made in the event of such an emergency, your minor child or children will have to be placed with a new family. Not surprisingly, such a drastic change can be a disruptive process for minor children — even if they are placed with members of your family. If you choose a guardian for your child in your will or other estate plan documents, this difficult time can go much more smoothly if you know the main factors to consider when selecting a guardian.

Who Makes a Good Guardian?

A guardian for your minor child “steps into” your shoes in the event you can no longer care for him or her. No one wants this to happen, but when a parent becomes incapacitated or dies, the minor child left behind will need care. Because a guardian plays such an important role in your family’s life, there are several factors to consider when selecting a guardian to take on this role:

  • Shared values. It is best to choose someone who has a common level of religious belief. For example, if you are not the religious type you may have objections to someone who would expect your child to join and regularly attend church.
  • Parenting style. Whether you run a tight ship at home or prefer a laissez-faire approach to raising children, choosing someone who will continue in your style is likely the best fit.
  • Involvement. Someone who travels all the time will not be able to regularly show up to your kids’ soccer games, gymnastics meets, band concerts, and live theater performances — an important part of being a guardian to your children.
  • Energy level. Having the stamina to be able to keep up with your child — especially during the younger years — is an important factor.
  • Other children. While a potential guardian who already has children should not be a deal-breaker, you should consider how adding more children into the family will affect the dynamic, particularly when it comes to the ages of the kids.

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Other Factors to Consider

In the same manner that you can choose different individuals to manage the estate’s finances and your minor children’s day-to-day needs, you can also choose more than one guardian for your kids. You may want to assign one guardian per child, depending on your family’s circumstances. That being said, setting up guardianship this way may result in your children being separated from one another, which is usually not a good outcome.

Choosing someone who has the resources to care for your children — even if you have left money behind for their care — should also be a factor to consider. Finally, choosing someone who is young enough to be able to care for your child through his or her adulthood, as well as someone who is in good enough health to withstand the challenges of raising a child, are important factors that should be taken into account.

Selecting Your Child’s Guardian

Once you have made a decision on who will be your child’s guardian, contact an experienced estate planning attorney. We can draft the documents you need in order to make this legally binding, as well as create an estate plan that suits your family’s needs and will protect your loved ones in the event you are no longer able to do so yourself. Contact Williams Starbuck today to schedule a free consultation and to learn more about the full process.

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What to Ask A Potential Will and Trust Attorney

It goes without saying that estate planning is incredibly important and is more than just having a will or a trust. Estate planning offers a sense of security for you and your loved ones that your wishes will be carried out. With such an important and personal endeavor, selecting the right Wills and Trusts Attorney is crucial.

Doing your homework, familiarizing yourself with the options, and asking questions will be critical to getting someone who’s actively looking out for your interests.

There are several key factors you should consider when interviewing potential attorneys and ultimately deciding which one to hire.  

Funding a Trust

Will your estate planner help with funding your trust (or otherwise aligning asset ownership with your plan)? How much of the funding process with they do for you?

For some clients, this can be a critical service due to the complexity of assets he or they may own that need to be accounted for. Having someone thorough and reliable in this part of the process will make it easier to ensure the estate planning is completed properly.

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Organization and Payment

What does your estate planning process look like? How long will it take until the entire process is complete? When is payment due and how do I pay?

These questions may seem simple, but, not unlike when you pay for home repairs, it’s important to have an idea of the end date of the process. It is also important to know when you are expected to provide information and payment so that you are not the cause of any delays. Additionally, you never want surprises when it comes to payment amounts or dates. It is common to put down a retainer or deposit with a wills and trusts attorney, but it’s always important to know ahead of time.

Long-term Access

What long-term plans do you have for your firm? Will you or another attorney in your firm be around to help me in the future?

Creating a will or trust isn’t a one-and-done process. Wills and trusts are frequently revisited over the years because of changes in your circumstances and in the law. If at all possible, it’s best to have the same attorneys working with you. Although you can switch attorneys or firms each time you need an update, attorneys with plans to continue to offer services into the future can be a safer bet for ensuring continuity in your estate planning.

Planning for the Future

Can you help my family members if I become sick or when I die? Just because an attorney prepares estate planning documents, does not mean that they will help with estate or trust administration. Having the attorney who prepared your estate planning documents to assist your family during times of incapacity or at your death can be extremely helpful. Since he or she is already aware of your wishes and will have a copy of your documents, addressing these difficult situations can be quicker and involve less hassle.

Have Questions? Let Us Answer Them

There’s no reason to get overwhelmed by the choice of a wills and trusts attorney. Asking just a few simple, but critical, questions can help you find someone who’s on the same page. Contact us or give us a call today to schedule an appointment.  We would be happy to answer these questions and any others you may have.

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