How To Prepare For An Estate Planning Consultation

If you have made the responsible decision to create an estate plan, you may be eager to get started—and this is understandable. Many people live without an estate plan simply because they aren’t aware of the potential consequences and complications for those who haven’t created one.

Even if you have called an attorney and booked a consultation, there are several things you can do in the interim.

Build A List

Start compiling a list of all of your assets (e.g., home, financial assets, businesses you own, physical property, intellectual property, etc.). Take your time and allow yourself to come back to it as you come up with more things. When you write down one asset, you may discover how many other things fall under it.

You may write down “Financial Assets” as a general heading. And then you will build off the original premise. State who owns each account and how they can be accessed for each one.  Here are some common examples of things that land in this category:

  • Checking and savings accounts

  • IRAs, pensions, and retirement accounts

  • Investments and stocks

You can even begin to get ahead by collecting the documents for each asset. This includes the title of your car, the deed to your home, and anything associated with your financial assets.

Two Is One

One overlooked aspect of estate planning is that it requires the assistance of someone else. If you create a will, you will need an executor. People who choose to create trusts will need a trustee. In their own rights, both roles exist to carry out your wishes in your absence. You may have people in mind—your son or daughter, for example. But are they willing to take on this responsibility? Do they have the ability and capacity to do it?

Before you meet with your attorney, have these conversations with the people who plan on putting you in charge of your estate. To take things one step further, have a contingency plan too. What happens if the person you choose (who has also agreed to become your trustee) is seriously injured or passes away? Peace of mind comes when you have planned for the contingencies and possibilities.

C. Alvarez Law

At C. Alvarez Law, we are committed to helping you create the plan today that will protect you tomorrow. If you have further questions regarding wills and trusts or are ready to speak with an attorney, contact us to schedule your consultation. As you begin to assemble your list of assets, you may get a sense of how potentially complicated estate planning may be. Regardless, we are here to navigate you through the process and give you the peace of mind you deserve.

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C. Alvarez Law

C. Alvarez Law is a Central Florida-based law firm that helps families find resolutions to their most complex family law issues. We are dedicated to providing the support and advice you need for a positive outcome and a better life. Before you can move on with your life, you need closure. Our firm is diverse, energetic, and passionate about delivering this for the clients who have placed their trust in us. Let’s work together today to find a better tomorrow.

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