what questions will i have to answer estate attorney

Here are several questions you should ask yourself:

• When meeting with a potential estate planning lawyer, how comfortable do you feel?
• Does your advisor communicate well and clearly?
• Do you agree with their general values? How does their bedside manner make you feel?
• Do you have a good rapport?
• Can you envision speaking with this individual about very personal matters?

Full Answer

What to ask estate lawyer?

The answer is simple, as Chernoff explains. “The reason you need a Will is because you should be the one who designates who takes care of your stuff, and you should designate who should get your stuff. Because otherwise it may go to people who you don’t want to have the stuff.”. Chernoff is quick not to make light of the more serious ...

Does a lawyer need to be involved for an estate?

Mar 03, 2021 · A "durable" power of attorney means that it remains effective if you become incompetent. For real estate transactions, the power of attorney must be recorded. The person with the power of attorney is often referred to as an "attorney-in-fact." The attorney-in-fact is a fiduciary, bound to act in the interest of the principal.

Why do I need to hire an estate planning attorney?

The grieving process is difficult enough, but there will also be a funeral to plan, relatives to notify and financial issues to handle. Meeting with an estate attorney as soon as possible can ease your burden and make a difficult time easier to bear. Call Arizona Estate Attorney Dave Weed at (480)467-4325 to discuss your case today.

What should you look for in an estate planning attorney?

Oct 01, 2019 · You do not have to use every question, or every category of questions. A. About you 1. Where do you fit in your family-of-origin’s birth order? 2. How did you obtain your wealth? 3. Have you ever...

What kind of questions are asked for a will?

5 Questions An Attorney Will Ask When Drafting A WillWhat Do You Hope To Achieve With A Will? ... What Is Your Family Situation? ... What Assets Do You Own? ... Where Do You Want Your Assets To Be Distributed? ... Who Will Be Responsible For Your Estate?Jul 23, 2019

What questions to ask when setting up a trust?

5 Important Questions to Ask When Forming A Trust– November 29, 2021 by Rachel RoanWhy do you need a trust?Who will the trust benefit?Who will administrate the trust, now and later?Which assets will fund the trust?What are the long-term tax consequences?Nov 29, 2021

Will preparation questions?

Your Top 10 Will Questions AnsweredWhat is a will? ... What's the difference between a living trust and will? ... Why do I need a will? ... What if I haven't had kids yet? ... Do I have to make a new will if I move between states? ... Do I have to get a will notarized? ... Can I change or cancel my will? ... When should I update my will?More items...•Jan 19, 2022

What is the consequence of not writing a will and planning for your estate after your death?

A will is a legal document that spells out your wishes regarding the care of your children, as well as the distribution of your assets after your death. Failure to prepare a will typically leaves decisions about your estate in the hands of judges or state officials and may also cause family strife.

What should you not put in a living 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 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 are 5 things lawyers do?

What Lawyers DoAdvise and represent clients in courts, before government agencies, and in private legal matters.Communicate with their clients, colleagues, judges, and others involved in the case.Conduct research and analysis of legal problems.Interpret laws, rulings, and regulations for individuals and businesses.More items...•Sep 8, 2021

Will preparation checklist?

A 10 point Will preparation checklistStep 1: Get down to basics. ... Step 2: Get a ballpark of your assets. ... Step 3: Get a general sense of your debts. ... Step 4: Choose a guardian. ... Step 5: Choose an executor. ... Step 6: Make a list of specific gifts. ... Step 7: Make a list of beneficiaries.More items...•Oct 13, 2020

What should I know before making a will?

With so many intricacies to the law, U.S. News has identified five important things to keep in mind when preparing your will:Don't make it yourself. ... Identify your assets. ... Joint property with a spouse falls outside the will. ... Be careful in selecting guardians and trustees. ... Beneficiary designations override wills.Sep 26, 2012

Who gets money if no will?

A person who dies without leaving a will is called an intestate person. Only married or civil partners and some other close relatives can inherit under the rules of intestacy.

How much does an estate have to be worth to go to probate?

Every state has laws that spell out how much an estate would need to be worth to require the full probate process—anywhere from $10,000 to $275,000.Dec 17, 2021

What happens to bank account when someone dies without beneficiary?

If a bank account has no joint owner or designated beneficiary, it will likely have to go through probate. The account funds will then be distributed—after all creditors of the estate are paid off—according to the terms of the will.

What is an estate?

An estate is just a fancy name for “all your stuff” -- even if it’s not a vintage Bentley and stocks you can trace back the Dutch East India Company. It’s still worth something to someone.

Why do we need a will?

“The reason you need a Will is because you should be the one who designates who takes care of your stuff, and you should designate who should get your stuff. Because otherwise it may go to people who you don’t want to have the stuff.”.

When is a POA active?

A POA is only active when you’re alive. Once you die your family needs your Will to start settling your estate. Once submitted to Probate, which is when the court makes sure the Will is authentic, things can get complex and you’ll most likely want to hire an estate attorney to make sure everything goes as smoothly as possible.

What is a health care proxy?

A Health Care Proxy (a.k.a. Medical Power Of Attorney or Health Care Agent), which is part of an Advance Directive, is important if you want to avoid living in a semi-permanent state of limbo.

What does POA mean?

If you are in any way unable to function.”. The POA lists out your hand-selected roster of people you trust to make necessary legal and financial decisions in your stead. “You can have a POA that takes effect immediately,” says Chernoff.

Is a power of attorney necessary?

“It’s extremely important that you establish legal and financial Power Of Attorney,” he explains. “So a surviving spouse or someone else can make decisions for you if you are incapable. Not if you’re dead, mind you. If you are in any way unable to function.”

What is an attorney in fact?

The attorney-in-fact is a fiduciary, bound to act in the interest of the principal. The attorney-in-fact should keep complete and detailed records of all receipts and expenditures, and be able to explain to the principal what he or she has done.

How to avoid probate?

The probate process can be time-consuming and expensive; many people seek to avoid it. Here are some examples of ways that can avoid probate: 1 Lifetime Revocable Trust: Establishing and funding such a trust requires the transfer of all securities, and other assets. At death, a "pour over" will can transfer into the trust any property which is not already there. 2 Joint Property: Joint property passes to the surviving joint owner. 3 Life Insurance and Pension: These pass to the contract beneficiary.

Why do you want to designate a guardian after death?

There are many reasons why you would want to designate how your affairs are handled after your death. You may want to preserve your property for your family and friends, and direct specific property or specific amounts of property to specific persons. Even those of us with little or no property will want to designate a guardian for minor children.

What is a general bequest?

General Bequest: A bequest of $500.00 to each grandchild is a general bequest . Specific Bequest: A bequest of the vacation house is a specific bequest. Residue: The residue is what is left over after the tangible, general and specific bequests. For example, "Everything to my spouse, but if no spouse, then everything to my children.".

How to revoke a power of attorney?

You may revoke a power of attorney at any time by notifying the attorney-in-fact. This should be done by writing. If the power of attorney has been recorded, the revocation must also be recorded. Death of the principal terminates the power of attorney. Authority then passes to the decedent's executor.

What is a lifetime revocable trust?

Lifetime Revocable Trust: Establishing and funding such a trust requires the transfer of all securities, and other assets. At death, a "pour over" will can transfer into the trust any property which is not already there. Joint Property: Joint property passes to the surviving joint owner.

What happens if you die without a will?

If you die without a will, you die " intestate ." Each state has "intestacy" laws that determine who will receive the property of intestate decedents. It is important to remember that "non-probate" property is not controlled by these rules.

What happens if you don't open a probate estate?

If you fail to open a probate estate, you could be liable for taxes and other claims. Even if you do not think a probate estate is necessary, it is important to discuss your options with an experienced estate attorney.

What to expect after a loved one dies?

The days and weeks following the death of a loved one can seem like a blur. The grieving process is difficult enough, but there will also be a funeral to plan, relatives to notify and financial issues to handle . Meeting with an estate attorney as soon as possible can ease your burden and make a difficult time easier to bear.

Is a power of attorney valid after death?

Unfortunately, the power of attorney you may have had in place is no longer valid following the death, and it is important to understand that distinction. A previous power of attorney does not give you the power to handle the estate after the death of your loved one.

Do debts disappear when someone dies?

There is a great deal of confusion about how debts are handled when an individual dies. Some people think that these debts simply disappear when the debtor dies, but that is not always the case. While some debts are forgiven on death, others follow the deceased and become part of the estate. The good news is that the family members ...

Is word of mouth reliable?

With physical newspapers becoming rarer and rarer, you cannot rely on the obituaries to get the word out, and word of mouth may not be as reliable as you would think. It is important to notify everyone you know when a loved one dies. Not only will they want to attend the memorial service, but they may have an interest in the estate as well.

Do you need a death certificate for a funeral?

The death certificate should become available after the funeral process has been completed, and most funeral homes will help loved ones get the documentation they need. If you do not receive a death certificate from the funeral home, you should ask the funeral director for one as soon as possible. You will need a death certificate ...

Is it hard to handle an estate?

The death of a loved one is always hard, but the difficulty of handling the estate can make an already difficult situation that much worse. Dealing with the complexities of the estate, closing the financial affairs of a deceased loved one and handling the taxes due can really put a strain on your emotions.

Why is the initial interview so critical in estate planning?

There is wide agreement among estate planners that obtaining accurate, complete information is critical to fashioning a proper estate plan and keeping the estate planner shielded from malpractice.

B. Your parents and other ascendants (e.g., grandparents, etc.)

19. Are either (or both) of your parents still living? If either is living, has either one of them ever taken up a new life partner who is not your parent? If so, how do you feel about that?

C. Your spouse or life partner

23. If you have a life partner, please describe the present status of your relationship, including how long it has lasted.

D. Your siblings

33. Do you have siblings? If so, please describe your present relationship with each sibling, including a description of any events that caused disruption or severance of any relationships with them.

E. Your children

37. Do you have children? If so, please describe each child as well as the present status of your relationship with each child and the reason for your feelings in this regard, including your feelings about whether you have favored a child over the others.

F. Past experiences with estates or trusts

42. Are you, do you expect to be, or have you ever been, the beneficiary of an estate or trust? If so, what was your experience, and how has that experience impacted your own estate planning?

James P. Frederick

I agree with you that this is not very professional conduct. One potential reason for this is that the attorney represents the executor and NOT the beneficiaries. So the attorney needs to be careful not to reveal any confidential information.

Joseph Franklin Pippen Jr

I agree with the previous answers. Estates often have multiple beneficiaries and the attorney has ethical problems if he tries to represent all of them.#N#You should send your questions in writing instead of making phone calls-the attorney should reply with an answer or advising you he cannot answer because of conflict.

Paula Brown Sinclair

First of all, the estate attorney does not represent the beneficiary, and has no ethical obligation to respond directly to him. Estate attorneys or their staff sometimes do so as a matter to courtesy for simple or brief questions, or when instructed to do so by the executor, who is the real client.

What is the job of executor?

The executor's job is to manage and protect the property until it is ultimately distributed to you. A person who thinks otherwise should not have accepted the role of executor in the first place. This means you are entitled to any and all information related to property left to you, even if it is a portion of joint property, ...

What does it mean when someone names you as a beneficiary?

If your loved one named you as a beneficiary of a trust or estate, it means he or she thought about your future and your well-being during the estate planning process. Beneficiaries do have rights, but they also bear the burden of holding the executor accountable when questions arise.