Important Questions To Ask An Estate Planning Lawyer
Just as all adults can benefit from drafting an estate plan, there are also many benefits an estate planning lawyer can offer. Understanding what goes into drafting an estate plan is a collaborative process. Instead of having a lawyer do all of the talking, it is equally important that you get the important answers to your questions you need. Make a list of the questions you have already thought of, as well as those outlined below, so you do not forget any while meeting with the attorney.
What Documents to Include in an Estate Plan?
Many people think that a will, trust, or both, are enough to create an estate plan. While this may be true for some people, it is not true for everyone. For example, many people want control over the medical treatments they receive. If you ever become incapacitated and are unable to make those decisions for yourself, you may want to draft advanced directives that give someone you trust the authority to make these decisions on your behalf.
Can You Execute Beneficiary Designations and Help with Trust Funding?
If you are including a trust within your estate plan, you will have to fund it with property. This essentially requires you to transfer the title from your name into the name of the trust. If you have certain types of property, such as a retirement account or life insurance policy, you may also have to designate beneficiaries. When meeting with an attorney, ask if they offer these services to ensure that they are done properly.
Do You Offer Probate Litigation Services?
Probate litigation refers to contested legal actions related to someone’s estate plan, such as their will or trust. It is important that your lawyer does not only offer estate planning services, but also probate litigation services. This will ensure that they understand the causes of probate litigation, and how to avoid them.
How Much Experience Do You Have with Estate Planning?
It is best to work with a lawyer who is specifically trained in estate planning law and who focuses their practice on it. This will speak to the knowledge, experience, and skill they will bring to your estate plan.
How Do You Handle Updates to an Estate Plan?
Periodically, there may be changes to your financial portfolio, family tree, or property you own. All of these may require change to your estate plan. Ask any lawyer you meet with how they will handle these changes. Do they offer periodic reviews, and how do they charge for them? Charging for codicils, or additions to a will, or changes to an estate plan are acceptable, but it is important to know what those are so you are not surprised in the future.
Our Estate Planning Attorney in St. Petersburg Can Make Things Easier for You
At Legacy Protection Lawyers, LLP, our St. Petersburg estate planning attorney can help make it easier for your family to honor your wishes. We will review the facts of your personal situation, advise on the tools right for you, and draft an estate plan that will respect your final wishes. Call us now at 727-471-5868 or contact us online to schedule a consultation and to get more information.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html
