Deciding how to provide for your loved ones in the event of your death can be a daunting task. Perhaps you find it emotionally difficult to contemplate, or you spend so much time working or taking care of your family that you simply have not had the time to think about it? Maybe you do not know where to start or are worried about the costs? Regardless, our experienced attorneys will help you through the process of developing and implementing a personalized estate plan with understanding and efficiency. All it takes to begin is a telephone call to schedule an initial meeting with one of our attorneys.
Estate Planning Update: The SECURE Act
Estate Planning Process: What to Expect
- The initial meeting will be more productive if you are able to bring a completed Estate Planning Questionnaire and as many of the documents listed below as possible with you. Please do not be concerned, however, if you cannot bring everything or make copies beforehand.
- Current wills, trusts, powers of attorney and advance medical directives;
- Information regarding employment benefits, including retirement plans and group life insurance policies;
- Deeds to real estate;
- Recent statements for all bank and brokerage accounts;
- Insurance policy binders;
- Any trust agreements that name you or your spouse (if any) as a beneficiary;
- Previously filed gift tax returns;
- Personal financial statements and income tax returns for the last five years;
- Financial statements and income tax returns for the last five years for each business, farm, partnership, etc., as well as all partnership agreements, buy-sell agreements, and other relevant documents;
- Property settlement agreements, divorce decrees, separation agreements from prior marriages; and
- Premarital and marital agreements.
- The initial meeting usually lasts 60 to 90 minutes. If we will be preparing documents for more than one person (such as a married couple), it is best if both attend, but other arrangements can be made if this is not possible.
- At the initial meeting, we will discuss your goals and wishes, review your assets and family situation, consider appropriate options and develop a custom plan for you.
- After the meeting, your attorney will prepare an initial set of draft documents for your review.
- Once you have reviewed the drafts, your attorney will discuss any questions or comments you may have with you in person or by telephone and, if needed, revise the drafts for your final approval.
- Unless the additional revisions are significant, you and your attorney may also schedule a mutually convenient time to meet to sign your documents.
- When you visit our office to sign your final documents, your attorney will review with you any recommended changes to your existing assets or beneficiary designations to implement your plan.
Like a new car, the cost of your customized plan will depend on many factors, including the type of documents needed and the complexity of your family and financial situation. Your attorney should be able to provide you with a fee estimate at the end of the initial meeting.
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