what to ask a lawyer when making a will

^{7 Questions Your Will and Trust Lawyer Should Ask You}

1. What is it you hope to accomplish in your estate plan? ...
2. Do you expect to remain in your current state of residence and do you have any real estate or second homes in another state? ...
3. Who should fill the roles of executor, trustees for each type of trust, guardian for minor children, and who will act as an agent under both a financial and ...
4. Who should be involved in the process and what’s best for you? ...
5. Have you completed the estate planning questionnaire and accurately recorded the types, values, owners, and beneficiaries of each type of asset? Again, this is a complicated process. ...
Do you have any special needs, drug or alcohol, or spending problems with any of the heirs? This one is often overlooked by clients and lawyers alike. ...
Do you understand and feel comfortable with the fees you will pay for the services?

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?

What questions should I Ask my Lawyer?

You seem to mainly want an acknowledgment and (presumably) an apology from your cousin. You should also explore with your therapist any other options you might have, including legal options.

What questions to ask a DUI lawyer?

Some relevant questions to ask include:

• Are you available to represent me?
• Will anybody else work on my case? If so, who else will work on my case? ...
• Will you be the one representing me in court or will someone else be there? If so, who else will represent me in court?
• Whom do I call with questions? ...
• How do you prefer to be contacted?
• Will I receive regular status updates? ...

What are good questions to ask a personal injury lawyer?

Here are the peer review rating systems that you should check out:

• The Martindale-Hubbell Bar Registry ( www.martindale.com) has peer review ratings of more than 1 million lawyers across the country. It publishes short biographies of these lawyers. ...
• The Best Lawyers in America. ...
• Superlawyers. ...

What questions to ask when setting up a will?

5 Questions to Ask Before Writing Your WillHow should I express my intentions? ... Who makes sure my intentions are carried out? ... What is a trust? ... How much inheritance tax will my heirs owe? ... What if I want to leave money to charity?

What should you not put in your will?

Here are some items that you should never put in your Will:Business interests.Personal wishes and desires.Coverage for a beneficiary with special needs.Anything you don't want going through probate.Certain types of property.

What questions should you ask when setting up a trust?

Questions to ask your parentsWhat were your intentions in creating this trust? Ask why this trust was set up. ... How do you think this trust will impact me? ... Who else has access to the trust? ... What is your relationship with the trustee and/or trust administrator? ... How will I work with the trustee and/or trust administrator?

What are the most important things to put in a will?

What are the Most Important Things to Put in a Will?Personal Information. This should go without saying, but your will should include basic information about you to be official. ... Last Will and Testament Verbiage. ... Property and Assets. ... Beneficiaries. ... Executor. ... Guardianship. ... Signatures.

Should A will be signed on every page?

The testator must sign the will Typically, the signature must be at the end of the last page of the will. There are instances, however, where the signature is on the side of the page, because there may not be enough space for the signature at the bottom of the page.

Where is the best place to keep a will?

Ideally, you keep it in a place where it will be safe from disasters like fire or flood, secure from thieves or snoops, but also easy for your loved ones to find when the time comes.

What should you not put in a trust?

Assets That Can And Cannot Go Into Revocable TrustsReal estate. ... Financial accounts. ... Retirement accounts. ... Medical savings accounts. ... Life insurance. ... Questionable assets.

How does a beneficiary get money from a trust?

How can a beneficiary claim money from a bare/absolute trust? If a beneficiary of a bare trust is over the age of 18 years then they can simply ask the trustees to pay the money out to them that they are entitled to. As long as there is no other criteria to satisfy, the trustees should not refuse.

What to know before creating a trust?

Top Five Things To Consider Before Establishing A TrustFind a Trust Company That Makes You Feel Comfortable. ... Know What You Want out of Your Wealth. ... Know Your Goals. ... Understand the Road Ahead. ... Appreciating the Consequences of Your Decision.

What to know before writing a will?

9 Important Considerations in Creating a WillDetermine who will draft your will. ... You will need witnesses. ... Select your executor. ... Be specific. ... Don't neglect your digital assets. ... Consider who to include as your beneficiaries. ... Communicate with your heirs before you die. ... Keep your will current.More items...•

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 should a handwritten will include?

If you copy either sample below to make your holographic will, you should write your own information— name, beneficiary (person getting your belongings), executor, date, signature—in the spots indicated with underlined text. If you do not have minor or disabled children, then you can leave those lines out.

What should an estate planning attorney ask?

Quite simply, a good estate planning attorney should ask you what it is that you want to achieve with your will. Some things they may want to know are how important tax issues are to you, meaning how vital it is to you whether you are to paying high taxes or not. An attorney will also want to know whether or not you have children ...

How to get started with drafting a will?

To get started on drafting your will and other important documents, contact a licensed estate attorney so they can make sure that your estate plan follows state laws and accurately reflects your wishes .

How old do you have to be to have a minor in charge of your estate?

This is a type of trust that leaves assets to a minor, however they are kept with a trustee until the minor reaches a certain age, which is usually when they turn 18 years old.

How long does it take to get your estate passed to a minor?

The court will get involved in the process of distributing assets to a minor, which may take months to resolve.

Why is it important to make a will?

One very important part of planning a will is considering your family members. The purpose of a will is to make sure that your estate is taken care of according to your wishes once you pass. Most people leave part of or their entire estate to their loved ones. It is essential for your attorney to know if you are married, have kids, ...

What is the role of an executor in a will?

This role can be an executor, which is someone who will have control of a will. It can also be a trustee, which is someone who is responsible for each trust. It can be a guardian or someone who will have power of attorney, which means they can make medical decisions on your behalf if you are incapable of doing so.

Do attorneys want to know if you have children?

An attorney will also want to know whether or not you have children with special needs, if you plan to pay for your children or grandchildren’s college tuition, etc. Such questions will help lead them in the right direction by better understanding what you need from a will.

When Should I Write My Will?

To best understand the questions to ask a lawyer when writing a will you first need to know when is best to start writing a will to begin with.

Questions To Ask A Lawyer When Writing A Will

These questions, as with the timing of writing your will, will depend on the specific financial situation you are in at the time.

A Question Of Property

What happens to your property after your death is known as estate planning, and is often one of the most important parts of will-writing given how much of an investment property is today.

What to do if you can't decide on a beneficiary?

If they can't decide, you could suggest that attributes like age or immediacy in the family could be factors to help them choose. Once you decide how "much" each beneficiary deserves (the term 'value' here could be monetary, sentimental, or both), you can begin to decide what to give them.

What is the role of executor of a will?

They must also ensure that the beneficiaries receive the proper amount that they're entitled to. Other duties of the will executor include:

Can you divide things up easily among beneficiaries?

But, it's often not an easy task to divide things up easily among your beneficiaries. For example, if you make a blanket statement like "Tyler is entitled to all of the possessions in the house," you could potentially cause issues if there is valuable jewelry, antiques, etc. Similarly, trying to allocate everything as evenly as possible can still ...

Is it hard to write a will?

As previously mentioned, writing a will is often a difficult process for those who are seeking to plan their estate. It's not uncommon for emotions to serve as a significant obstacle in the process. You should make it clear to your clients that you respect how often they want to communicate and how involved they want you to be in the process.

What does a probate lawyer want to know?

In addition to a general understanding of your legal needs, the lawyer may want to know who else is involved with the case and their relationship to you. For example, in some probate matters, a client visits the lawyer to seek help for his or her parents or siblings.

What to do if a lawyer doesn't ask for documentation?

Even if a lawyer doesn't ask for documentation beforehand, it's still a good idea to bring a copy of all relevant documents to the meeting. Spend some time thinking about what you may have on hand. Try to organize the documents in a logical manner before you meet with the lawyer.

What to talk about at a lawyer consultation?

At the consultation, be prepared to talk about your case. The lawyer may not too many details of your case before you sign a fee agreement, but you should be prepared just in case.

How to save money on legal fees?

To save money on legal fees, take the time to select a good lawyer, prepare well for your first meeting, and do everything you can to reduce the time that lawyer will have to spend on your case . Even eliminating one email exchange could save you hundreds of dollars.

How to save money on trust and estates?

Do everything you can to reduce the time that lawyer will have to spend on your case. Even eliminating one email exchange could save you hundreds of dollars. ...

How to start a relationship with an attorney?

After you decide on which attorney to hire, you’ll sign a fee agreement and officially begin your relationship with your lawyer. The first meeting with an attorney usually involves the exchange of a lot of information. You will spend a good deal of time explaining to the attorney the details of your legal issue and answering his or her questions. He or she will spend a good amount of time discussion and laying out a plan. If you think you might get nervous or forget something, you could practice this conversation with a friend, or you could write down what you want to say.

What happens at your first meeting with an attorney?

The first meeting with an attorney usually involves the exchange of a lot of information.

Who is the executor of a will?

Name an Executor. The person who will handle your estate and the provisions in your will is called the executor. You designate this person in the will. You should make sure the executor will be up to the task of handling your estate and also that the person is open to accepting the responsibility.

What is a last will and testament?

Having a last will and testament ensures your wishes will be followed and your loved ones are taken care of after your death. It may seem like a daunting task, but this easy-to-follow framework will help you gather everything you need to make a will. After you have all the information and documents you need, making your will is as easy as sitting ...

Can you bequeathe property in a will?

Some assets cannot be bequeathed within a will (or may be better handled in other ways such as living trusts ), but at this point, you should get all the assets down on paper so you know what you're dealing with. When listing your assets, remember you can only distribute property you own solely.

Do you have to list beneficiaries in a will?

Listing your beneficiaries may seem unnecessary, but remember recent births, deaths, marriages, divorces, etc., may influence who you wish to include in your will. At this point, you don't need to specify who you want to receive what; just focus on the people involved so you know you won't be forgetting anyone.

Can you leave property in your will if you are married?

That is, if you are married and your spouse holds joint title on an asset, you cannot leave that property to someone else in your will.

What are the assets of a will?

Write down everything—from cash to investment accounts to real estate to jewelry—to get a sense of the scope of your assets. It’s important to note that you’ve likely got both probate and non-probate assets. Probate assets are covered by your will, and include: 1 Cash accounts 2 Investment accounts 3 Real estate 4 Jewelry 5 Artwork 6 Any asset (tangible or intangible) that’s owned by you individually

What are the assets that are covered by a will?

It’s important to note that you’ve likely got both probate and non-probate assets. Probate assets are covered by your will, and include: Cash accounts. Investment accounts. Real estate.

What does an executor do?

Once approved by the court to fulfill their role, the executor will start collecting and distributing the assets, pay any debts, and other duties involved in settling an estate. It’s a good idea, but not essential, to check in with the person you have in mind to make sure they’re comfortable serving in this role.

Who is the executor of an estate?

Every estate needs an executor—someone you entrust with the authority to fulfill your final wishes. Usually it’s a family member (often a surviving spouse or an adult child) but it could also be a trusted friend, colleague, or even an attorney.

Do you have to designate beneficiaries in a will?

If you do have specific wishes, it’s important to designate specific beneficiaries for specific assets in your will, even if you’ve had the who-gets-what discussion before and believe your loved ones know your wishes . “When someone passes away it’s a hard time, and people may not remember things clearly,” Kruse says.

Is Estate Planning Your Field of Specialisation?

See more on lawyer-monthly.com

Do You Also Execute The Will?

Who Will Receive My Assets and How Much Will They get?

Do You Conduct Periodic Reviews?

Conclusion