what to ask estate planning 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 should you look for in your estate planning attorney?

Jun 29, 2021 · There are many questions you should ask prospective estate-planning attorneys before hiring one to craft your estate plan. Above all, make sure you hire an attorney who demonstrates a high-touch ...

Do you really need an estate planning attorney?

The thought of planning your estate may seem daunting. You might wonder where to start or what you should ask your attorney. To get your estate plan off on the right foot, consider the following six questions to discuss with your estate planning attorney. Use Your Time Wisely A Get-Started Guide to Seeking Sound Advice 2 3 4 5

What are good questions to ask an attorney?

Mar 01, 2022 · If you are looking for an estate planning attorney. This blog listed some questions that you should ask your estate planning attorney. Read more!

How to find the right estate planning attorney?

10 rows · Jun 08, 2017 · 10 Questions To Ask Your Estate Planning Attorney At Phelps LaClair, when we prepare an estate ...

What are the 5 components of estate planning?

A good estate plan is comprised of five key elements: Will, Trust(s), Power of Attorney, Health Care or Medical Directive and Beneficiary Designation. A will is a legally binding document that directs who will receive your property and assets after your death.Nov 8, 2017

What questions are asked when making a will?

Some questions you should discuss with your wills and probate solicitor are:What will my funeral arrangements be?Who will get my property and assets?What happens to my debts?Who will look after my non-adult children?What will happen to my pets?What will happen to my business?Will Inheritance Tax be payable?More items...

What are the major elements of estate planning?

An estate plan is a collection of documents and includes a will, guardianship designations, healthcare power of attorney, beneficiary designations, durable power of attorney, and a personal letter of intent, outlining your wishes, should you die or become incapacitated.

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 most important things to put in a will?

What are the Most Important Things to Put in a Will?Personal Information. This should go without saying, but your will should include basic information about you to be official. ... Last Will and Testament Verbiage. ... Property and Assets. ... Beneficiaries. ... Executor. ... Guardianship. ... Signatures.

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

What are assets for estate planning?

Understanding Estate Planning Assets that could make up an individual's estate include houses, cars, stocks, artwork, life insurance, pensions, and debt.

How do I organize my estate documents?

Organize Your Informationfuneral plans (arrangements and whom to notify)insurance policies.wills, living trusts, deeds, and other important documents.pensions and retirement accounts.bank, money market, and mutual fund accounts.stocks and bonds.items in safes, safe deposit boxes, and other locked or hidden places, and.More items...

What are the two parts of estate planning?

At a bare minimum, there should be two main components: a last will and testament and a durable power of attorney. In addition to these parts, you can add things such as a trust and even medical directions. These are the main components of an estate plan that you should consider, including in your comprehensive plan.

What questions should I ask when setting up a trust?

Top 10 Questions to Ask While Creating a Living Trust#1 What Assets Do I Want to Protect? ... #2 How Complex Are My Estate Planning Needs? ... #3 Who Do I Want to Manage My Property? ... #4 Am I Concerned My Children Won't Manage My Assets Responsibly After I Pass? ... #5 Do I Anticipate Family Conflict After I Pass?More items...•Oct 26, 2018

What should go in a living trust?

Some assets are more appropriate for funding into a trust than others.Cash Accounts. Rafe Swan / Getty Images. ... Non-Retirement Investment and Brokerage Accounts. ... Non-qualified Annuities. ... Stocks and Bonds Held in Certificate Form. ... Tangible Personal Property. ... Business Interests. ... Life Insurance. ... Monies Owed to You.More items...

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.

A. When we see clients with defective Wills, Trusts, and Estate Plans, it is almost always because they purchased a fill-in-the-blank form which was not tailored to their particular needs..

This is often because the client purchased a “pre-drafted” plan online, or because they hired an attorney who did not take the time to understand the client’s needs.

A. Many law offices (and nearly all of the online do-it-yourself companies) do NOT handle one of the most important aspects of drafting a Will, Trust, or Estate Plan – the signing ceremony..

I always find this odd because there are a number of extremely complicated rules, regulations, and formalities that must be followed when signing your estate documents.

A. Most attorneys bill by the hour..

Billing rates vary anywhere from $150 per hour on the low end to $800 per hour on the high end.

Written By Chris Atallah - Founder, Rochester Law Center, PLLC

Chris Atallah is a licensed Michigan Attorney and the author of “The Ultimate Guide to Wills & Trusts – Estate Planning for Michigan Families”. Over that past decade, Chris has helped 1,000s of Michigan families and businesses secure their futures in all matters of Wills, Trusts, and Estate Planning.