Questions You Should Ask Your Estate Planning Attorney
Creating an estate plan is a personal and often emotional undertaking, making the selection of your estate planning attorney of the utmost importance. Asking these questions of your potential estate planning attorney will help you get to know the attorney and better understand their process, the level of service they will provide, and their professional experience. Ultimately, the answers to these questions can help you determine whether the attorney is a good fit for you and your needs. If you are interested in moving forward with your estate plan, please give us a call and let us answer these questions for you.
Embarking on the journey of estate planning is not just a financial act but a deeply personal and emotional one. The choice of an estate planning attorney is crucial, as it requires trust and a deep understanding of your needs and goals. To ensure you find the right professional for this important task, here are essential questions to ask your potential estate planning attorney to assess their suitability for your needs.
Understanding why an attorney chose estate planning as their area of expertise offers insight into their passion and commitment to the field. Many attorneys are drawn to estate planning because of personal experiences or a deep-seated desire to help individuals and families navigate the complexities of preparing for the future. This question not only allows you to connect on a personal level but also to gauge the depth of their dedication. If an attorney lacks a compelling reason for their choice, it might be worth considering other options.
Familiarizing yourself with an attorney’s process can demystify estate planning and set your expectations. The approach varies significantly among attorneys, from those who offer a single consultation before document execution to those who engage in multiple discussions and follow-ups. Understanding their method will help you anticipate the service level, timeline, and what your journey will entail, ensuring it aligns with your expectations.
Effective estate planning hinges on the thorough and accurate sharing of your financial and personal information. Knowing what details your attorney needs — from assets and liabilities to family dynamics — is critical. Clarify whether they require verbal disclosures or documentary evidence, such as deeds, financial statements, and insurance policies. An attorney's ability to clearly communicate these requirements is pivotal for a comprehensive and effective estate plan.
Estate planning often involves sensitive information, making it important to know who else might be involved. While your spouse's involvement is typically necessary, including other individuals, such as financial advisors, CPAs, or insurance agents, should be tailored to your comfort level and needs. These professionals can play crucial roles in ensuring that your estate plan is cohesive and tax-efficient, but the attorney should be willing to limit the sharing of information according to your preferences.
It's also worth considering the involvement of your children. While it may be beneficial to inform adult children about the general framework of your estate plan, involving them in the decision-making process is not always necessary and can sometimes be counterproductive, especially if there are potential conflicts or concerns about undue influence.
Asking these questions is not just about gathering information but also about building a relationship with an attorney who understands your values and goals. The right attorney will welcome these inquiries and provide clear, comprehensive answers that make you feel confident in their abilities and in the estate planning process itself. If you’re ready to take the next step in securing your legacy, reach out to us for a conversation where we’ll address these questions and any others you might have, ensuring you’re informed and comfortable moving forward.
Call Ball Morse Lowe today to set up a consultation with one of our estate planning attorneys at 405.701.5355 or email clientintake@bml.law. Let us help empower your financial journey with security and peace of mind.