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Finally, you want to get your estate plan together. Good for you! Taking steps now will help you and protect your family in the event of your incapacity and death. Once you start the process you will find out it is easier than doing paperwork for a mortgage. But now you have to find an attorney to help you.

But, how do you find the right one? What should you expect?

How to choose an estate planning attorney

First, choose a lawyer in a similar way of choosing a doctor. Word of mouth referrals are the best. Ask friends, family members, or coworkers if they have used an estate attorney and what was their experience. Ask for a referral from lawyers you know.

Second, look for attorneys online through many lawyer directory websites such as Avvo (www.avvo.com) or Martindale Hubbell (www.martindale.com). You will be able to see information about them, any instances of professional misconduct, and reviews by client or peers. Find their law firm websites and learn more about their services and background.

Third, meet the attorneys. Many attorneys offer a free initial consultation. Get a sense if you are comfortable with working with them. If you don’t get a good feeling from the first attorney, consult with another. Hire an attorney only if you feel that you are comfortable asking them questions and getting advice. Because you may be making changes to your estate plan from time to time, choose someone you like to work with.

Finally, determine the legal fees they charge. In some cases, estate planning attorneys charge flat fees for documents. Other attorneys charge by an hourly rate. In addition, ask if they accept credit cards and when payment is due.

What to expect at the first meeting

When you make an appointment, most attorneys will send you a questionnaire to complete. They will ask basic information about your family, your family members, your assets, and any special needs such as having a child with a disability or other dependents. Some of the questions will include:

• Name and address of spouse

• Names, addresses and ages of children

• Your first and second choice of personal representatives and trustees

• Your first and second choice of guardians for minor children

• Your choice of beneficiaries and backup beneficiaries

• Your first and second choice of agent for Financial Power of Attorney

• Your first and second choice of agent for Healthcare Power of Attorney

• Addresses to real property, estimated value of property, and any mortgages

• List of bank and financial accounts and their balances

• List of retirement accounts, pensions, estimated value

• List of personal property (jewelry, cars, etc.)

• List of insurance policies and values

• List of any inheritances you might anticipate

Completing this before your consultation helps sort through some decisions you will be making. As a result, it gives you a good idea of what property you own and the value. You will know what you are protecting and what you may be giving to your beneficiaries.

You do not need to bring in your taxes or list all your account numbers. Don’t put off making an appointment because you don’t have all the answers for your guardians, personal representatives, agents, trustees, etc.

One of the many jobs your attorney has is to help guide you in making the right decisions by asking the right questions. I found those clients who were dead-locked or unsure about their designations (especially on the subject of guardians for their children) would come together on their decisions once I asked a few questions and posed several different scenarios that might apply to their situation.

The information you provide to your attorney is helpful for them to customize an estate plan for your specific situation. When you meet with your attorney, he or she goes over the questionnaire and asks additional questions. At this meeting, they will discuss various documents such as medical power of attorney, durable power of attorney, advance medical directives or living will, and a revocable trust. The attorney outlines what documents they advise for you and gives you an estimate of what it will cost.

After the first meeting

First, the attorney drafts your documents and sends them to you for your review. It is important to check the names and spelling of all your designated agents and beneficiaries. Then the attorney will have you sign your documents in the office with a notary and the required number of witnesses needed in your state. In many cases, an attorney keeps the originals and provides you with a set of copies.

Don’t be afraid that you are “locked into it” once you sign your documents. Afterwards, if you want to change any provisions, such as guardians or beneficiaries your attorney can draft a codicil.

In my practice, once our clients signed all their estate planning documents, there was usually an audible sigh of relief. These moments were the best part of my day. Many clients had put off estate planning for years (and even decades). It was nice to see our clients leave with a feeling of peace and the knowledge that they have organized their affairs for their family.

Estate planning attorneys make things easier

Finally, recognize that estate planning attorneys are on your side. Their objective is to make your wishes and instructions enforceable. They want to help you put plans into place to protect your family and your assets.

Think of estate planning attorneys as designated drivers because they are the responsible ones making sure you are protected. So contact an estate planning attorney, get your estate plan done, and then relax and enjoy your life. They’ve got your back!

 

Parts of this article have been excerpted from Estate Planning for the Sandwich Generation: How to Help Your Parents and Protect Your Kids.

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