Planning for the future of your estate is a crucial step in protecting your legacy and ensuring your loved ones are cared for. Yet many people hesitate to begin the process. According to AARP, 13% of respondents to a survey said estate planning was too expensive. While cost can be a concern, it’s important to understand all the variables involved. Here are a few questions you may want to ask when you meet with a local estate planning attorney.

What Assets Does My Plan Need to Cover?

Every estate is unique. You’ll want to discuss the nature of your assets, whether that includes real estate, investments, retirement accounts, or valuables. Knowing what your plan will address helps ensure your attorney can tailor a strategy that meets your specific needs. A thorough review often reveals assets you might have overlooked, emphasizing the value of professional guidance.

Who Should I Designate as Executors and Trustees?

Choosing the right people to administer your estate and manage any trusts is vital. A local estate planning attorney can explain the responsibilities these roles entail and suggest criteria for selecting the most trustworthy candidates. Your choices should be individuals who are financially savvy, organized, and comfortable overseeing potentially complex tasks.

How Often Should I Update My Plan?

An estate plan isn’t a static document. Major life changes like marriage, divorce, the birth of a child, or purchasing a significant asset can influence your intentions. Ask how frequently you should revisit the plan to ensure it remains accurate and aligns with current laws. Regular reviews also provide opportunities to address shifts in tax regulations or family dynamics.

What Are Your Rates?

Though some people believe estate planning is too expensive, it can be more manageable than you think. Ask about pricing structures and any payment plans that might be offered. While rates vary, a local estate planning attorney can often provide a transparent overview of fees, helping you see how this proactive investment can spare your family future legal complications.

At the Law Offices Of Michael T Sawyier, we understand that navigating wills, trusts, and other legal instruments can be daunting. By asking the right questions, you’ll gain clarity about the process and take meaningful steps toward safeguarding your estate for the people who matter most. Reach out to us today to get started.