Planning for a secure future that meets your lifetime needs and leaving a legacy is a significant milestone. It’s a chance to step away from day-to-day activities and focus on your life, as described in a recent article,“Preparing for an Estate Planning Consultation: 10 Items to Consider Before Meeting Your Attorney,” from The National Law Journal. We outline the initial information you will need to prepare for the first meeting with our estate planning attorney in Sharon, from personal and family details and asking important questions to key estate planning topics.
What Important Personal and Family Information is Central to My Estate Plan and Why?
A comprehensive estate plan builds and preserves wealth, protects you and your loved ones, and safeguards your legacy. Compile details for personal, family, and dependents so you can discuss key estate planning topics. Gather the following information:
Personal and Family Details: Include contact information and ages for all family members, in addition to any special needs or concerns, and future goals such as college or retirement.
Dependent and Beneficiary Details: Gather addresses and phone numbers for children and other beneficiaries whom you want to ultimately receive your property, assets and personal belongings when you are gone.
Any Existing Estate Planning Documents: If you previously had created or signed any estate planning documents especially in a different state or country, you should bring them with you so that the Sharon estate lawyer can evaluate them during your consultation.
Request a copy of our Estate Planning Checklist to have all elements of your personal and asset information prepared for your initial estate planning consultation.
What Are the Important Questions I Should Consider for My Estate Plan?
Asking questions is an integral part of the estate planning process in Massachusetts. The answers to these questions offer clarity on your goals. Ask yourself the following questions:
- Who would I trust to make decisions, handle financial matters, and oversee my healthcare if I am incapacitated?
- Who would I ask to care for my minor children if I am incapacitated or pass away?
- How will I provide for my loved one’s special needs in the future?
- Do I want to avoid probate?
- Do I need to protect my estate or business assets and property from creditors, litigation, or a possible divorce?
Read our article, “Estate Planning Checklist For 2024: A Comprehensive Guide,” for an overview of the role and elements of a comprehensive estate plan in Sharon, MA.
What Are the Key Topics for a Comprehensive Massachusetts Estate Plan?
The answers to important questions help shape your goals in these key estate planning topics:
- Avoiding Probate: Make it easier on surviving loved ones and ensure your legacy is passed on according to your wishes. The Massachusetts probate process transfers a decedent’s property and ownership when there isn’t a valid will or other legal documents that instruct asset distribution and name beneficiaries.
- Reducing Estate Taxes: Preserve more wealth to pass on to heirs by reducing or eliminating your estate tax burden.
- Protecting Assets: Shield your assets from creditors, litigation, or protect funds from financial misuse if you are incapacitated. Learn how to create an asset inventory in our article: Why Your Estate Planning Attorney Asks for an Inventory of Assets
Key Takeaways:
- Personal and Family Details: Compile details for personal, family, and dependents.
- Important Questions to Ask the Attorney: Answer important questions to help shape your goals.
- Key Estate Planning Topics: Discuss key topics for a comprehensive estate plan.
Our attorney, Artika Angel, at Estate and Elder Law Advisory PLLC, in Sharon, MA will help you navigate the complexities of estate planning. Book an Initial Call.
Conclusion
Creating a comprehensive estate plan to build wealth and protect your loved ones is a big step toward leaving a legacy. If you have questions about the process but want to begin your journey to peace of mind with Attorney Angel, Book an Initial Call. Your estate planning attorney will be able to provide you with a list of the documents she will need to get started on your estate plan, but these are the significant issues you will discuss at your first meeting.
Reference: The National Law Journal (Feb. 23, 2021) “Preparing for an Estate Planning Consultation: 10 Items to Consider Before Meeting Your Attorney”
