There are many different kind of documents which may be appropriate for your circumstances. My regular procedure, when approached by new clients, is to begin by sending them a questionnaire, which asks for detailed information about what assets they own and how they are titled. This allows me to advise clients with respect to estate taxes, probate and other such matters. The questionnaire also asks for family information and sets out a list of questions that the clients should consider in determining the provisions of their documents. Once I receive and review the questionnaire, I will then proceed to a initial meeting with the clients in which I will explain all options, answer all questions, and make a recommendation for the proper plan based on all of their personal and financial information.
An estate plan may also include one or more trusts to address
the clients’ personal circumstances and needs.
Trusts may be funded during life, or after death. A couple with young
children may want to establish a trust that requires assets to be held back
from the children until they reach an age older than 21 years. Parents of a spendthrift child may want to create
a trust that will prevent the spendthrift child from receiving a large
distribution all at one time. Parents who
have a disabled child may need a special needs trust for that child. Some
trusts address the distribution of assets for a blended family. And some trusts are created simply for the
purpose of avoiding probate in the estate of the Settlor. These are just a few of many examples of how
trusts can become an integral part of your total estate plan.
Most of all, however, the client must work with an
attorney with whom they feel comfortable, someone who will listen to the clients’
wishes, be sensitive to the clients’ needs, work in partnership with the
clients to achieve their goals, and when necessary, provide emotional support when
addressing any difficult situations, all while presenting recommendations based
on the clients’ individual circumstances.
I understand that this can be a very difficult process for many people
who don’t want to think about their eventual death (I keep a box of kleenex in
the conference room), and I think a good estate planning attorney should be gentle,
supportive, sensitive yet highly knowledgeable at the same time. I like to think that describes who I am as I
work with my clients. I am proud to say
that the feedback I get from existing clients supports that.
This post could be far longer, but it gives you a
preliminary understanding of what is involved and, most notably, the importance
of having an estate plan. More detailed discussions will follow in
future posts. In the meanwhile,
however, you would be well advised to
make that phone call or send that email to me, or whomever else you may choose,
and get started on this crucial work. It
is a gift to everyone.
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