Estate planning doesn’t only apply to the wealthy and the elderly. It is a good idea for anyone who wants to organize their finances, and take care of their loved ones after their death. What is the best place to start? It is best to begin with an estate planning attorney . Selecting the right attorney for this task is similar to choosing the best avocado at the supermarket; you have to apply gentle pressure in order to determine if the one you are holding is good.
We’ll start with the “why” of why you might need such a professional. These professionals assist you in legal documentation–including wills, trusts, power of attorney, and healthcare directives–to prevent common pitfalls that could derail your wishes. The professionals act as navigators for your assets on the high seas, guiding you through turbulent legislative waters and bringing your ship safely into port.
Before you hire anyone, peel your eyelids! Inquire about the experience of those you are considering. The estate laws vary widely from state to state and have their own unique nuances. You wouldn’t tour New York City with someone who is an expert on the Grand Canyon. For your estate plan to be successful, your attorney needs to know the local laws.
In terms of subtleties, an estate planner doesn’t fill out forms. They develop strategies that align with your financial and personal goals. The magic could be in the minimization of estate taxes, or setting up trusts to benefit a spending child without discouraging productive behavior. You can have them help you with family dynamics, and make sure your wishes are carried out without causing family strife.
The cheese is now firmly bound. Discussions about your own death or incapacity are uncomfortable but necessary. A skilled estate planning attorney is almost like a bartender. They are not shaken by your stories, and can mix the right documents without spilling anything. A good estate planning attorney can be a confidant and help you tailor your plan for your particular needs.
A man once brought a tangled estate plan to an attorney. It looked just like the Christmas lights from last year. The attorney didn’t throw it out. He unraveled it, addressed the individual bulbs and made it glow to the tunes of the client’s favorite holiday music.
Do not choose your partner based on the first result that comes up in your search engine. Look for recommendations and reviews, like you would a brand new toy. Then, ask them questions, as you would on a first-date.
Moreover, your lawyer should be someone who communicates clearly. Not someone who uses legal jargon that you don’t understand. After a consultation, if you’re more confused than before you came in, they may not be right for you. You need an estate lawyer who can not only explain the law to you, but also make it easy for you to understand.
Remember that once you’ve chosen an attorney, your estate plan won’t be a simple crockpot recipe. This is more like a starter for sourdough that needs periodic attention.