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