Posted on: 27 September 2016
If you have yet to make an estate plan with an estate-planning attorney, such as Valentine & Valentine PC, you might be wondering what the whole process entails. This is a common concern for many people so they hold off getting an estate plan put together. Luckily, the process of getting an estate plan put together is pretty straightforward. Here are some things you need to know.
How Often Do I Need To Meet With The Attorney?
The number of times you will meet with the attorney will depend on how complex your estate is. If you have lots of properties, want to set up multiple trust accounts, and have special concerns, you may need to meet with them a couple times. However, if you just need to create a will, a trust, and select powers of attorney you will generally only need to meet with them twice. The first time the attorney will go over the different aspects of your estate plan and get information from you. This will be information like who will care for your children in the case that you pass away, how many trusts you want, whom you want to appoint as trustee and so forth. Then after this first meeting the attorney will go through and create all the documents and trusts necessary to get you what you want. Then you will meet with them a second time to look over the plan and sign it.
How Do You Pay An Attorney?
Many times an attorney will work at an hourly rate. You will pay them based on how much time they spend on your case. However, in most cases, when meeting with an estate-planning attorney, you will pay for a package. They will charge one sum that will get you your entire plan. This is a great question to ask when you call different attorneys because they can generally give you an exact number of how much the plan will cost, depending on your individual needs.
Once You Do You Estate Plan, Will It Be Completely Done?
Once you finish your estate plan it will be done in the sense that it is legal and binding. But that doesn't mean that you shouldn't revisit it often to make sure that it is still what you want and fitting your needs. Usually you revisit the estate plan when you have a major life change, or every couple of years to make sure it is still reflective to your desires.
As you can see meeting with an estate-planning attorney is an easy thing to do and shouldn't be delayed.Share