what questions to ask an estate lawyer

^{Here are several questions you should ask yourself:}

• When meeting with a potential estate planning lawyer, how comfortable do you feel?
• Does your advisor communicate well and clearly?
• Do you agree with their general values? How does their bedside manner make you feel?
• Do you have a good rapport?
• Can you envision speaking with this individual about very personal matters?

Full Answer

What are the best questions to ask a lawyer?

Don’t hesitate to ask your attorney questions such as:

• What is the timeline of this process?
• What sort of paperwork must I have prepared for closing?
• What do I need to arrange with my bank/ mortgage lender?
• What available funds must I have in my bank account?

How do I hire an estate attorney?

• You’re selling a property that is in some state of distress.
• You’re the heir or executor of a property whose owner is now deceased.
• You’re selling a house with an uncooperative partner.
• You have judgments or liens on the property.
• You have that gut feeling that something could possibly go wrong based on knowledge you have about the property.

Does a lawyer need to be involved for an estate?

Many executors decide, sometime during the process of winding up an estate, that they could use some legal advice from a lawyer who's familiar with local probate procedure . But if you're handling an estate that's straightforward and not too large, you may find that you can get by just fine without professional help.

What to look for in an estate planning lawyer?

• How long have you been practicing?
• Where were you educated?
• How will you communicate with me?
• What are the best ways to contact you?
• Will you be my point of contact, or will it be someone else, such as a paralegal?
• Will you send me updates about the status of my plan, or should I expect to take the initiative?

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What are the four important estate planning factors?

The Estate Planning Must-HavesWill/trust.Durable power of attorney.Beneficiary designations.Letter of intent.Healthcare power of attorney.Guardianship designations.

What are good estate planning questions?

Common questions about estate planningWhat makes up my estate? ... Who needs estate planning? ... What makes up a well-designed estate plan? ... If I have a living trust, do I still need a will? ... What is probate? ... Is probate a concern only for those with large estates? ... What is a trust? ... What Is a Revocable Living Trust?More items...

How do I prepare my estate?

Estate Planning: 11 Things to Do Before You DieGather Important Documents and Contact Information. ... Execute a Last Will and Testament. ... Complete a Living Will or Advance Directive. ... Put in Place a Power of Attorney. ... Establish a Living Trust. ... Update Your Beneficiaries. ... Secure Your Digital Assets. ... Plan Final Arrangements.More items...•

What are the disadvantages of a trust?

What are the Disadvantages of a Trust?Costs. When a decedent passes with only a will in place, the decedent's estate is subject to probate. ... Record Keeping. It is essential to maintain detailed records of property transferred into and out of a trust. ... No Protection from Creditors.

What are 3 estate planning questions you may want to consider either for yourself or your parents?

You might not think this is relevant to estate planning....Thinking about the following issues in advance can help you prepare for a meeting about your estate plan.Who will raise your children if both parents die? ... What if you all die in a common disaster? ... Are there any other descendants you haven't yet mentioned?More items...•

Does a will override a trust?

Does a Will Supersede a Trust? Once the grantor funds the trust, it cannot be vacated by anyone. This includes the grantor. This means that a will cannot supersede a trust after the grantor dies.

What are the four must have documents?

This online program includes the tools to build your four "must-have" documents:Will.Revocable Trust.Financial Power of Attorney.Durable Power of Attorney for Healthcare.

What three things should a will accomplish?

A will is the foundation of a strong estate plan and it must include any requirements set by state law.You should include your estate assets, choose your beneficiaries, and nominate a personal representative.Your will does not need to include certain assets that pass outside of probate.More items...•

What is the first step in estate planning?

Step 1: Sign a will You need one to ensure that your chosen heirs will get the assets that you want to leave to them. In your will, you name an executor who will have the power and responsibility to pay your debts and distribute the remainder of your estate according to your wishes.

What are the 3 types of trust?

To help you get started on understanding the options available, here's an overview the three primary classes of trusts.Revocable Trusts.Irrevocable Trusts.Testamentary Trusts.More items...•

What is better a will or a trust?

For example, a Trust can be used to avoid probate and reduce Estate Taxes, whereas a Will cannot. On the flipside, a Will can help you to provide financial security for your loved ones and enable you to pay less Inheritance Tax.

Who owns the property in a trust?

In simple trusts, the trustee is legal owner and simply holds as little more than a nominee for the beneficial owner. The beneficial owner may be in occupation of the property and has its full benefit.

How to contact an estate attorney in Arizona?

Call Arizona Estate Attorney Dave Weed at (480)426-8359 to discuss your case today.

What happens if you don't open a probate estate?

If you fail to open a probate estate, you could be liable for taxes and other claims. Even if you do not think a probate estate is necessary, it is important to discuss your options with an experienced estate attorney.

What to expect after a loved one dies?

The days and weeks following the death of a loved one can seem like a blur. The grieving process is difficult enough, but there will also be a funeral to plan, relatives to notify and financial issues to handle . Meeting with an estate attorney as soon as possible can ease your burden and make a difficult time easier to bear.

What is the best way to protect assets after a loved one dies?

The best way to protect the assets is to open the estate right away.

What to do if you are unsure about your taxes?

If you are unsure about the tax situation, you should contact the person who handled returns for the deceased. They should have copies of past tax returns, and they should be up to speed on any outstanding audits, tax debts or other issues. The days and weeks following the death of a loved one can seem like a blur.

Do debts disappear when someone dies?

There is a great deal of confusion about how debts are handled when an individual dies. Some people think that these debts simply disappear when the debtor dies, but that is not always the case. While some debts are forgiven on death, others follow the deceased and become part of the estate. The good news is that the family members ...

Is it hard to handle an estate?

The death of a loved one is always hard, but the difficulty of handling the estate can make an already difficult situation that much worse. Dealing with the complexities of the estate, closing the financial affairs of a deceased loved one and handling the taxes due can really put a strain on your emotions.

Do You Specialize in Estate Planning?

If an attorney doesn’t specialize in estate planning, they’re probably not going to be as good at it as a lawyer that does. An estate planning specialist knows all of the current laws and regulations and knows to carefully word your documents.

How Long Have You Been Practicing?

Finding the most experienced attorney possible should be your main priority. Experienced estate planning attorneys have faced most of the challenges that can arise from estate planning, so they know what issues to look out for when drafting your documents.

Do You Execute the Plan?

Some estate planning attorneys draw up documents while others also execute the estate plan and trusts. It will be more efficient and affordable to work with a lawyer that draws up the documents and executes the plan to ensure all of the assets are correctly transferred into the trust.

Do You Conduct Reviews?

Some estate planning attorneys will conduct regular reviews of your affairs. This can be beneficial because it will allow them to note where you should make any changes based on your current situation. Many people who experience a life change may not remember to update their estate plans, but they must.

What Will My Estate Plan Include?

Your estate plan may have multiple wills and trusts. Your estate planning attorney should be knowledgeable about wills, trusts, insurance, and taxes so you can understand the nuances of estate planning. Your lawyer should also be able to help you determine which tool is best for you.

How Do You Determine Your Fees?

Lawyers typically charge flat fees or charge by the hour, but some do both. No matter how an attorney charges, it’s important you know how their fees are determined so you can make the right financial choice.

How Long Does the Process Take?

In many cases, there is no rush to draft your estate plan. However, you should plan to address certain aspects of your plan with other professionals, including accountants and money managers. A lawyer’s expertise may overlap with your accountant, but they are not investment advisors.

How Long Have You Been Practicing Law?

Regardless of the task at hand, finding an experienced lawyer usually makes the process run more smoothly. A seasoned estate planning lawyer will have experience handling all different types of challenges and understand how to help you craft a plan that meets your specific needs.

How Much Of Your Focus Is In Estate Planning?

Make sure to ask how much of a lawyer’s focus is in estate planning, whether they keep up with the latest changes in estate and tax law, what types of estates have they handled, and whether they help with probate and estate administration.

Can You Help Me Create A Comprehensive Estate Plan?

Estate planning involves so much more than simply drafting a will. Powers of attorney are critical documents that can protect your interests while you are still alive, and trusts and life insurance are often important tools for optimizing your heirs’ inheritance.

Will You Conduct Periodic Reviews?

An annual or semi-annual review of your estate plan is a must. Find out if a lawyer will do these reviews with you and ask for a rough estimate of how much the fee for review will be. It is also important to remember to update your estate plan after important life events such as marriage, divorce or the birth of a child.

Will Anyone Else In Your Office Be Able To Assist Me Or Answer Questions?

Although most attorneys strive to make themselves available to their clients, emergencies happen. Knowing who to talk to if your lawyer is not available when an urgent matter arises can help you avoid stress and make things easier for everyone involved.

Can You Help Me With Other Issues?

If you are a business owner, having an attorney who understands business succession planning or collaborates with succession planning lawyers can help to ensure all your bases are covered in the event of your incapacitation or death.

What Are Your Fees?

Depending on the complexity of your estate, an attorney may charge a flat fee instead of an hourly rate. Some do both, charging a flat fee for basics like powers of attorney and an hourly rate for more extensive tasks such as establishing a trust.

What should an experienced attorney know?

An experienced attorney should be able to tell you which nuances of your case may cause delays and how to plan for them. Knowing this information in advance can help you obtain any necessary paperwork in advance, saving time. 6.

Do probate attorneys know immigration?

Some attorneys know immigration very well, others are proficient with criminal law, yet others primarily focus on real estate closings. When hiring a probate attorney, ask them (or look at their website) about other areas of law they practice.

What should a personal lawyer do?

Your personal lawyer can and should help you make decisions not only about things like legal documents, but also about things like buying insurance, saving for college, planning for retirement and all the other challenging decisions that will come up along the way of your life and your business. Your business lawyer should be keeping you informed about things like hiring and firing, trademarking and copyrighting, and growing your business.

What to do when you are considering getting your financial affairs in order?

When you begin to consider getting your legal and financial affairs in order, the first thing to do is call the offices of lawyers who you will meet with to handle your planning.

What documents are needed to be filed in probate court?

If a will exists, then the original will and death certificate also need to be filed in court.

What is the role of a probate attorney?

The role of a probate attorney includes, but is not limited to, settling disputes, the sale of the estate property, and distributing the assets of the deceased among the beneficiaries. So, you’ve made the decision to hire a probate attorney, but have you considered the necessary questions to ask?

How long does it take to get a probate?

The probate process can vary in length of time, but generally, completion can take a few months to a year (or more). The main determining factors on this duration includes the number and type of assets and the state’s legal requirements.

What is probate process?

The term probate refers to various steps such as the verification process, the court where the issue is handled, and the distribution of the deceased’s assets.