Estate Planning Considerations- Thoughts for the New Year

February 1, 2023- Many people make the resolution to get their affairs in order by doing estate planning. Here are a few tips.

  1. When you see an estate planning attorney, ask for a written explanation of the documents you will be receiving, instead of just receiving an oral explanation. I often meet people who do not understand what they have or why they have them. If you’re able to refer to a written explanation, that should help provide clarity, especially since you will not have to remember what you were told.
  2. Do not ask for a specific document, state your end goal and ask what are the best options to obtain that goal. I have had several clients tell me they want a trust, however, upon learning their goals, I realized that a trust was not the best option for them. Furthermore, there are often less complicated and less expensive options.
  3. Estate planning does not have to be expensive, and lack of estate planning can be more expensive than actual estate planning. I understand that the thought of estate planning may be daunting, but with a little legal literacy, you’ll be ready to tackle this area and perhaps save yourself and your family money and time.

Please note this is a general information, so if you do have any questions or concerns, you should consult an attorney.