questions to ask when interviewing estate attorney

• “What percentage of your practice is devoted to Probate, Trusts, & Estate Planning Law?”
• “How long have you personally been doing estate planning?”
• “What is your estate planning process?”
• “What will you need from us?”
• Refer to an area of concern and ask about how they’d handle it. ...
• “Will you write general, financial and/or medical powers of attorney for us?”
• “Do you provide Health Care Directives?”
• “How often do you recommend that we get together to review these documents after they’re written?”
“How will I know if a change is necessary due to a change in estate or tax law?”
“How do you charge for estate planning?” (example: flat fee for the documents, hourly charges for re-titling assets)
“What do your fees include?'
“What services are not included in that fee?”
“Does your fee include a regular review of my legal documents?”
"How do you go about communicating with my other advisors (financial planner/CPA)?"

Full Answer

What are the best questions to ask a lawyer?

Oct 01, 2019 · 100 Questions to Ask in an Estate Planning Interview. by L. Paul Hood, Jr. and Stephan R. Leimberg

What should you look for in an estate planning attorney?

Feb 27, 2013 · Below is a list of 14 questions that Mission Financial Planning has created for interviewing a prospective estate attorney: “What percentage of your practice is devoted to Probate, Trusts, & Estate Planning Law?” “How long have you personally been doing estate planning?” “What is your estate ...

How do I hire an estate attorney?

Nov 06, 2017 · How To Interview An Estate Planning Attorney 1. IS ESTATE PLANNING YOUR PRIMARY FOCUS? If your estate is expansive or complicated, you’ll want an attorney whose... 2. WILL YOU SEND ME DOCUMENTATION TO STUDY AND REVIEW? If you’re like most people, you probably have little experience... 3. WILL YOU ...

What should I ask before hiring an attorney?

What are some good questions to ask an attorney?

In Order to Move Forward With Any Lawyer, First Ask These Ten QuestionsHow Long Have You Practiced Law? ... What Types of Cases Do You Manage? ... Who's Your Typical Client? ... How Many Similar Cases Have You Taken On? ... What Kind of Special Training or Knowledge You Have Outside Your Law Degree? ... What Are Your Fees and Costs?More items...

What questions should I ask about a trust?

Questions to ask your parentsWhat were your intentions in creating this trust? Ask why this trust was set up. ... How do you think this trust will impact me? ... Who else has access to the trust? ... What is your relationship with the trustee and/or trust administrator? ... How will I work with the trustee and/or trust administrator?

Will and trust questions to ask?

10 Questions to Ask an Attorney About Living TrustsWhat Property Can Go in a Living Trust? ... Who Should Be My Trustee? ... Does a Living Trust Avoid Estate and Probate Taxes? ... What Are the Benefits of a Living Trust? ... What Are the Drawbacks of a Living Trust? ... Do I Still Need a Power of Attorney?More items...

What are the disadvantages of a trust?

What are the Disadvantages of a Trust?Costs. When a decedent passes with only a will in place, the decedent's estate is subject to probate. ... Record Keeping. It is essential to maintain detailed records of property transferred into and out of a trust. ... No Protection from Creditors.Oct 23, 2020

What questions should I ask an estate planner?

10 Common Questions in Estate PlanningQuestion 1: How is my property transferred at death? ... Question 2: What happens if I die without a will? ... Question 3: I was listed in the will as a beneficiary of certain assets. ... Question 4: What is estate planning? ... Question 5: I heard that the estate tax will be repealed.More items...•Jan 25, 2020

How does a beneficiary get money from a trust?

There are three main ways for a beneficiary to receive an inheritance from a trust: Outright distributions. Staggered distributions. Discretionary distributions.

Is estate planning for the rich?

No. When you think of estate planning, you may envision someone very wealthy and believe this doesn't apply to you. This is a common misconception.

What is the estate planning process?

Estate planning involves determining how an individual's assets will be preserved, managed, and distributed after death. It also takes into account the management of an individual's properties and financial obligations in the event that they become incapacitated.

What is the difference between a revocable and irrevocable trust?

Irrevocable Trust: An Overview. A revocable trust and living trust are separate terms that describe the same thing: a trust in which the terms can be changed at any time. An irrevocable trust describes a trust that cannot be modified after it is created without the beneficiaries' consent.

What assets Cannot be placed in a trust?

Assets That Can And Cannot Go Into Revocable TrustsReal estate. ... Financial accounts. ... Retirement accounts. ... Medical savings accounts. ... Life insurance. ... Questionable assets.Jan 26, 2020

What does putting a house in trust mean?

With your property in trust, you typically continue to live in your home and pay the trustees a nominal rent, until your transfer to residential care when that time comes. Placing the property in trust may also be a way of helping your surviving beneficiaries avoid inheritance tax liabilities.Nov 18, 2020

Should bank accounts be included in a living trust?

Some of your financial assets need to be owned by your trust and others need to name your trust as the beneficiary. With your day-to-day checking and savings accounts, I always recommend that you own those accounts in the name of your trust.