When you first meet with your Law & Stein estate planning attorney, you’ll discuss and strategize a plan for your assets. We aim to protect your wealth, minimize tax liabilities, and create the most comprehensive plan to fulfill your intentions. We know that talking about end-of-life wishes can be a sensitive topic. Therefore, we want you to come prepared so that you feel at ease discussing your estate. Here’s what to bring to ensure a successful and comfortable first estate planning meeting:
Your estate planning attorney will review your financial documents so that they obtain a thorough understanding of your financial situation. As a result, your attorney can develop an effective estate plan that protects your wealth and the future generations inheriting it. Such documentation you may want to gather and bring to your meeting includes:
- Bank account statements
- Investment account statements (stocks, bonds, and mutual funds)
- Real estate documents (mortgage statements and deeds)
- Retirement account statements (IRA, 401(k), and pension plans)
- Business ownership documents
- Life insurance policies
- Loan agreements or debts
- Appraisals of valuable assets (jewelry, automobiles, antiques, royalties, art, collectibles, etc.)
List of Beneficiaries and Executors
We recommend you bring a list naming your immediate family members. Including their date of birth and social security numbers are also helpful. Have an idea of who you would like to name as the beneficiaries, meaning the people that will inherit your assets. It’s important to be specific when informing what you would like each beneficiary to inherit. Without designated beneficiaries, the state will determine to whom your assets will go during the complicated probate process.
Along with beneficiaries, you will name an executor. The executor will handle estate administration, including managing assets, paying debts, and transferring assets to the beneficiaries. You may also want to name a power of attorney, which we can walk you through. They are the person who would make decisions regarding your estate should you be unable to do so.
A List of Questions
We recommend writing a list of questions you have before coming in. Start this list well before the meeting so that you can address any concerns that may come up. Writing it down ensures you do not forget any important topic. This list is especially important in cases regarding specific considerations such as complicated business matters or family members that have special needs. Please note we welcome and encourage all questions. Our expert attorneys are here to clarify your confusion or concern regarding any aspect of the estate planning process.
Our dedicated estate planning attorneys will help protect your assets. We can suggest and advise on various insurance policies and trusts to preserve your family’s wealth. Moreover, we will guide the process if you are looking for a will, power of attorney, or health care proxy, or require more sophisticated planning involving living trusts. Hiring a Law & Stein estate planning attorney means peace of mind that your loved ones will be taken care of.
Schedule your free consultation with Law & Stein today.