Your estate planning attorney is a competent and knowledgeable professional who can help you create a solid estate plan in a timely manner. But you can hinder your attorney’s job if you do not do your part in the estate planning process.
Write Down What You Want
If you are already cognizant of some basic aspects of estate planning before you meet with an attorney, write down what you want out of your plan. Make a list of your beneficiaries and include a preliminary idea of what you would like to bequeath to them. Consider if you would like to include a disability plan in case you should become incapacitated during your life time. If you are not familiar with estate possibilities, speak with an attorney and then begin your list of what you want your estate plan to do.
You are the one that knows what you own and what bank accounts you have, so it is important that you provide all necessary information to your attorney. Your attorney can help by giving you ideas of the type of assets you should include, but it is up to you to make sure that list is complete. If you forget to include a piece of property in your Will or Trust, your estate may face issues in probate.
Disclose All Information
Your attorney is your confidant. Use him or her as such. Do not withhold information that may affect your estate plan now or later. Also, ask questions if you are unsure of any part of the estate planning process. Asking questions will help keep the line of communication with your attorney open. Communication is vital to creating a legal and comprehensive estate plan.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.