Planning Today for Peace of Mind Tomorrow.
Without a proper plan in place, there is little confidence in the future.
A lack of clear guidance can lead to unnecessary stress and heartache for your loved ones.
Estate planning is for all individuals.
Whether you own a lot or a little, all things that you own are part of your estate. By making a plan today, you still have a voice tomorrow no matter what happens. Most importantly, by creating a complete estate plan, you will save your loved ones money, time, and unnecessary stress.
How does estate planning save your loved ones money, time, and unnecessary stress? Simple: a proper estate plan makes sure that everything is organized in such a way that your family has little or nothing left to do from a legal perspective once you pass. A complete estate plan minimizes or completely avoids probate, which involves the court, court fees, attorneys fees, and, worst of all, time and stress.
Although estate planning can be complex in nature (we’re talking about one wrong word or one missed signature), understanding what it is is as simple as having a plan for your assets when you pass away and who can make healthcare and financial decisions on your behalf should you be incapable of doing so. When you sit down with a lawyer to make your estate plan, common topics that you will cover are:
- Creating a plan for who will make financial and health care decisions on your behalf if you are unable to do so.
- Determine who will have guardianship of your minor children should you pass while they are still minors.
- If you own a business, transfer of your business when you retire, pass or become incapcitated in running your business.
- Who you want to receive your possessions when you pass.
- Topics you may not have considered but could potentially cause conflict and confusion in your passing.
What are the things you really need to know when it comes to estate planning? When you are ready to meet with an attorney to begin the estate planning process, there are several things to know and consider before you meet. This includes:
- What real estate do you own and do you own it with someone else,
- What types of accounts you have and how much are in each account (bank accounts, retirement accounts, brokerage accounts, etc.),
- Whether you have any large outstanding debts (mortgage included), and
- Your approximate net worth.
Finding the right lawyer to assist you in creating your estate plan is central to the success of carrying out your wishes. A few things to consider when determining if this lawyer is right for you:
- Is their primary focus estate planning? Attorneys who primarily focus on estate planning will be up to date on all the legal rules to successfully help you create your estate plan exactly the way you want it.
- Because estate planning is an ongoing process, you will want a lawyer who periodically reviews your estate plan to ensure that it is up to date.
- How do they bill? Do they charge a flat fee by the project or per hour?
- Will you be able to review your estate plan before it becomes finalized?
When you begin the estate planning process with your lawyer, you may feel overwhelmed with all the documentation and laws. From the first meeting until the last, your lawyer will put your mind at ease by answering any questions you may have and direct you on what you can expect from the estate planning process. On average, the estate planning process takes 2-3 weeks for smaller estates and 3-6 weeks for larger estates depending on the complexity of the estate.
I recommend you review your plan every year to evaluate if there have been any significant life changes since creating or updating your plan.
Nobody likes thinking about their last moments and what will happen with their belongings when they pass. However, not doing so may mean confusion and frustration for your loved ones. If you were to pass before creating an estate plan, who inherits your belongings will be funneled through your state’s intestacy laws. Give your loved ones peace of mind knowing that when you pass, your wishes are honored through your estate plan.
Don’t wait another day to secure your family’s future! Get your questions answered so that you can live fully in the present, knowing tomorrow has a plan for itself. Reach out to me today so I can help you create a plan.
A Note On Pricing
Every estate plan is unique, so it is impossible to quote an exact price without a consultation. However, I wish to be as transparent as possible with my pricing. When you meet with me, you will know what your customized plan will cost you. This way you will receive high quality service without overpaying.