what to discuss with an estate attorney

What to Discuss with a New York Estate Planning Attorney

• Last Will and Testament. Results from a recent AARP survey indicate that 41% of baby boomers and 71% of people under the age of 34 do not have a will.
• Revocable Living Trust. ...
• Power of Attorney. ...
• Health Care Decisions. ...
• Release of Medical Records. ...
• Final Arrangements. ...
• Special Needs. ...
• Tax Consequences. ...

Full Answer

What should I look for when hiring an estate planning attorney?

If you have engaged an estate planning attorney to develop your estate plan, then there are several items he or she should discuss with you. Unfortunately, not all estate planning attorneys take time to go over some very important information with their clients. This often results in confusion during a time of illness or death.

Why do I need a real estate lawyer?

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 …

How do I choose a real estate attorney?

Other Things to Consider: Who would you like to receive your property? Is there anyone you would not want to receive your property? Do you want to leave anything to a charity, university, church or other organization? Who would you like to serve as executor of …

How do I choose a lawyer after a client dies?

Feb 22, 2021 · An experienced and local real estate attorney would be best suited to understanding and explaining your state’s real estate laws, and how those laws may influence your legal claim(s). Meeting with an attorney will be especially important in terms of remedies and damages awards that may be available to you, as some states place award limits. A real estate …

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 Question 5: I heard that the estate tax will be repealed.More items...•Jan 25, 2020

What should I prepare for estate planning?

The Estate Planning Must-HavesWill/trust.Durable power of attorney.Beneficiary designations.Letter of intent.Healthcare power of attorney.Guardianship designations.

What questions do they ask 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 questions do you ask a living trust?

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 is the first step in estate planning?

Seven steps to basic estate planningInventory your stuff. You may think you don't have enough to justify estate planning. ... Account for your family's needs. ... Establish your directives. ... Review your beneficiaries. ... Note your state's estate tax laws. ... Weigh the value of professional help. ... Plan to reassess.Jan 11, 2022

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 are 5 things lawyers do?

DutiesAdvise 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 should I leave in my will?

It only makes sense that you would want to make sure to leave it to the right person (or people). Other notable assets to take stock of before finalizing your Will are your vehicle, family heirlooms, cash, bank accounts, retirement funds, stock options, and any other valuable possessions.

Can you make a will without a lawyer?

You do not have to use a lawyer if you write up your own will. However, it is a good idea to get it checked by a lawyer before you get it signed and witnessed. ... Any mistakes in the will could lead to problems with the granting of probate, or a challenge to the legal validity of your will, later on.Nov 30, 2021

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 an irrevocable trust?

An irrevocable trust is simply a kind of trust that cannot be changed or canceled after the document has been signed. This sets it apart from a revocable trust, which can be altered or terminated and only becomes irrevocable when the trust maker, or grantor, dies.

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 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.

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.

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 ...

Why do we write contracts?

Thus, writing contracts is done in order to avoid problems and delays later on, as litigation could result if the parties to the transaction experience a dispute. Real Estate litigation commonly involves zoning, construction defects, homeowners associations, and/or boundary disputes.

What is real estate law?

Real Estate law is what provides the legal guidelines and protections for those involved in the sale and purchase of real property. Real property refers to property that is affixed to the land, or a piece of land itself, as opposed to personal property, which is property that is typically easily movable.

Is a legal consultation free?

Before meeting with your real estate attorney, verify whether the consultation will be free of charge. Generally speaking, legal consultations are free.

What is an initial meeting with an attorney?

This is an initial meeting with an attorney that occurs before you decide whether to hire that attorney to represent you in your real estate dispute. The attorney will also use the initial legal consultation to determine if they can legally and competently represent you.

What should be included in an initial consultation?

An initial consultation should always include a discussion of the fees that an attorney may charge and the legal facts and circumstances of your case. You should discuss an attorney’s fee arrangement during the consultation, prior to retaining them, especially if cost is a large determining factor for you.

What can a real estate attorney do?

A real estate attorney will be able to review the facts of your case, as well as any documents, to determine how best to move forward. An attorney will also help you collect additional evidence through the legal discovery process. Finally, they can also represent you in a court of law, as needed.

Evergreen Page Topics for Estate Planning Law Firms

The evergreen pages of your site should cover information that is not likely to change over the long term. This includes general information about your practice area and the laws that govern it.

Potential Blog Topics for Estate Planning Law Firms

Policy and law changes — When entities in your state adjust their policies, laws, or protocols in ways that are likely to affect all or some of your potential clients, it is a good idea to cover those changes and their potential effects on your blog.

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Why is it important to have an attorney review a real estate contract?

It is important to have an attorney review a real estate agreement before signing the contract. Breaching a contract (failing to perform the terms and conditions within the contract) can result in costly real estate litigation and damages.

What is the job of an attorney?

An attorney’s job is to protect his or her client’s best interest. The attorney cannot do that when the attorney represents parties that have adverse concerns. Throughout a real estate transaction, the attorney provides sound legal counsel to his or her client.

Do you need a title search for real estate?

Title searches are not required in all real estate transactions. However, a title search is strongly recommended whenever property changes hands or whenever an interest in a piece of property transfers from one party to another party.

What is the role of an attorney in real estate negotiations?

An attorney performs due diligence to protect the client’s best interest while giving the client legal advice regarding the real estate matter.

Can a real estate attorney write a title insurance policy?

Some real estate attorneys can also write title insurance policies as agents for a title insurance company. Title insurance companies offer insurance that covers title defects and problems. The fee for title insurance is usually based on the sale price of the property or the mortgage loan amount. Before an attorney or title insurance agent can issue a title insurance policy, a title search must be completed.

What happens if a real estate contract is not drafted correctly?

However, if a real estate contract is not drafted correctly, the parties could incur substantial costs and time attempting to enforce the terms of the contract. Real estate lawyers have extensive experience drafting and reviewing real estate contracts.

Does title insurance cover closing?

Most title insurance policies contain exclusions and exceptions that the policy does not cover. It is important to discuss title insurance with an experienced real estate lawyer before a real estate closing. An owner needs to understand what the title insurance policy covers and what is not covered.