what to expect of an estate attorney

What to Expect

• The Implementation Phase. Using the flowcharts as the “blueprints” for the estate plan, we provide the client with a...
• The “Funding Phase”. After the documents have been executed, we are not finished until all assets have been properly...
• Completion of the Estate Plan. In the end, every client has at least three meetings with an attorney. In the “simple...

Full Answer

What does an estate lawyer do?

An estate lawyer is trained in matters related to passing on your assets after you die, and planning for situations where you can no longer care for yourself. They are experts in wills, trusts, and your local probate process. Some estate lawyers may also have specialties, like planning the succession of a business.

How do I prepare for an estate planning consultation?

How To Prepare for Your First Estate Planning AppointmentFill out your attorney's intake questionnaire. ... Gather your financial documents. ... Bring copies of your current estate plan documents. ... Divorce agreements, premarital agreements, and other relevant contracts. ... Choose your executors and health care agents.More items...•Mar 29, 2019

What should I bring to a will?

What to Include in a WillA list of all of your assets. ... A list of all your liabilities. ... The beneficiaries (who to give the assets to) and guardians (for if the beneficiaries are too young), and how much each one is to receive. ... The executors (to carry out your will). ... The advisors.More items...•Jun 20, 2019

What's involved in estate planning?

Planning tasks include making a will, setting up trusts and/or making charitable donations to limit estate taxes, naming an executor and beneficiaries, and setting up funeral arrangements.

What are the phases of estate planning?

The basic phases of estate plan creation are: initial consultation; information gathering and planning; drafting; review; and signing. Afterward, there are funding steps and there should be ongoing review and attention to the plan to ensure that it continues to meet your needs. This is Part One of a two part post.

What does an attorney do during a consultation?

During an initial consultation, the attorney usually spends some time just chatting and getting to know you better. This allows you to decide if you are comfortable with this attorney, and allows the attorney to assess your mental capacity and independence of thinking.

How long does it take to draft an estate plan?

Using the flowcharts as the “blueprints” for the estate plan, we provide the client with a draft of the Will, Trust and other estate planning documents, usually within 7 to 10 days of completing the design session. The client will have another 7 to 10 days to review the documents before they come in and review the documents with us to make sure that the client thoroughly understands key provisions in the estate plan. We compare the provisions in the documents to the flowchart. After the client thoroughly understands the document and the flowcharts, a meeting to sign the documents will be scheduled.

How many meetings does an attorney have?

In the end, every client has at least three meetings with an attorney. In the “simple design phase”, the design meeting may be part of the fact-gathering meeting. Or, the review meeting may be combined with the execution meeting. Or, the funding meeting may be combined with the execution meeting. In the end, three meetings and depending on the client and their progress will depend on which meetings get combined. But, remember, all of this will be part of a predetermined flat fee.