The COVID-19 crisis has sent people scrambling to get an estate plan in place. The uncertainty of this crisis has sent droves of people into the offices of estate planning attorneys across the country…but most of these people have no idea how to prepare for these meetings.
Being prepared and organized before meeting with an estate planning attorney can cut down on costs and make the entire process of planning your estate go much more smoothly. It can be a stressful event, so it’s a good idea to bring a comprehensive and organized suite of information with you so you can have certain answers ready for your attorney.
Here’s a list of what to bring to your meeting:
• Family information. Information about you and any family members you want to be involved in your estate plan. This includes ages, full names, and contact information.
• Financial information. Bank accounts, investments, stocks, bonds, and anything else regarding your financial accounts.
• Retirement information. Your 401K, Roth IRAs, and any other retirement savings information.
• Real estate information. Information on your properties, including vacation homes, rentals and business properties.
Some questions you will want to be prepared to answer for your attorney:
1. Who do you want to receive your assets when you die? Is there anyone you don’t want to receive any assets?
2. Do you have any family property or assets that you want to stay in the family?
3. If you have children, who would you want to take care of them if something happened to you?
4. Who do you want to be in charge of resolving your financial affairs after your death?
5. Who would you want to serve as a trustee over any trusts?
6. If you are incapacitated, who do you want to make medical and financial decisions for you?
7. Do you want to leave anything to a charity, church or other organization?
8. How do you want to take care of funeral arrangements?
This is just a small list of questions to prepare for. Don’t be overwhelmed—we know it’s a lot to think about. Your attorney can help guide you through the process of making informed decisions. Here at the Deliberato Law Center, we offer free consultations and estate planning workshops to help you educate yourself about estate planning, and ease into the process without fear or doubt. We are still open to help clients prepare estate planning documents as needed, or review existing plans. Reach out to our office and let us help protect you, your family, and everything you’ve worked a lifetime to build.
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