If you have an initial estate planning consultation scheduled you should know what to expect. Your attorney is going to ask certain questions to determine what your needs are and gather the information that he or she requires to properly address these needs.
Previously Executed Estate Planning Documents
For one thing, you should inform your attorney about any previously existing estate planning documents that you may have signed in the past. When an estate is being administered there are few things more disruptive than the presentation of conflicting last wills or trusts.
Your Family Dynamic
Your attorney should be apprised of your existing family dynamic and the ages of your family members as well as your own age. In addition, he or she should be made aware of previous marriages if you have in fact been married before.
Along these lines you would want to let your attorney know if you have entered into any premarital or post-marital agreements.
Financial Details
You would do well to create a net worth statement that details all of your assets and liabilities and bring this along to your initial consultation. Various different courses of action could be appropriate depending on the extent of your assets and the specific nature of your goals.
It is important to be forthcoming with your attorney during this initial consultation. Absolute confidentiality is assured, and though some topics may be sensitive to discuss you must be honest during the consultation if you want to facilitate a smooth transfer of assets to your chosen heirs after your passing.
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.
- How Can I Incorporate Charitable Gifting into My Estate Plan? - June 6, 2023
- LGBTQIA+ Pride Month in Indiana - June 1, 2023
- Debunking Estate Planning Myths - May 30, 2023
