Estate planning is often not done until later in life. Unfortunately, due to age or illness, it is then that issues arise. If you have not drafted a will for yourself or for a loved one, it is important to act now.
Demands with work and family can make it an easy task to put off. It is crucial to consult a last will and testament attorney before it is too late. This guide provides answers to important questions to ask your will and testament lawyer.
1. Do You Specialize in Estate Planning?
When talking to an attorney about your last will and testament, it is very important to ask if they specialize in estate planning. Estate planning is a very detailed and highly complex process.
A specialist in this area will have the expertise and knowledge necessary to handle all of the legal aspects of your will. They will be able to assess your situation and create a plan that is tailored to your estate.
2. What Should Be Included in the Will?
First and foremost, you should ask your last will and testament attorney what should be included in your will. This is an important question, as each situation is different, and there may be important items that need to be included that you would not be aware of.
You may need to include instructions for the disposal of your assets, instructions for funeral arrangements, a list of executors, trustees, and guardians, and various other provisions.
Your attorney can help guide you through this process, as well as provide any necessary advice along the way. Additionally, he or she can also provide legal advice on topics such as taxes and avoiding probate.
3. Do You Execute the Plan?
It is important to ask your last will and last testament attorney do you execute the plan to ensure the accuracy of your will. This will help ensure that your wishes are carried out in order to protect the interests of your heirs and beneficiaries.
Questions to ask your attorney include how the estate will be administered, who will be responsible for its enforcement, how assets will be distributed, and what taxes and fees may be owed. You should understand what types of documents will be needed to execute the plan and any financial benefits or losses you may encounter.
4. Who Will Receive My Assets, and How Much Will They Get?
Determine who will be the primary beneficiaries of your legacy, with potential secondary beneficiaries in case the primary beneficiary(s) predeceases you.
It is also a good idea to ask your attorney what types of assets you can include in your will supplies, such as real estate, bank accounts, or investments, and what specific instructions need to be included for the disposition of these assets.
5. Do You Conduct Periodic Reviews?
This question will give you an idea of how the attorney keeps up with any changes or updates to the laws or regulations that impact your Last Will and Testament.
Typically, it is recommended for wills and estates to be reviewed every 3-5 years after they have been created to ensure that it still reflects your wishes and best interests, as your life circumstances may have changed during that period of time.
Ask These Questions Before Hiring a Last Will and Testament Attorney
You know the important questions to ask your Last Will and Testament attorney and should now be better prepared for your appointment. If you have questions, be sure to speak with an attorney experienced in estate planning to help guide you.
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