Family Studies

 

Should you have an estate plan?

Consider the following statement, and if you concur with it, then you should seek the guidance of an estate planning attorney:

"I want to control my property while I’m alive; take care of myself and my loved ones if I become disabled; and give what I have ... to whom I want ... the way I want ...and when I want. Furthermore, if I can, I want to save every last tax dollar, professional fee, and court cost legally possible."

Finding an Estate Planning Attorney

Click on Attorney Search to locate an estate planning attorney nearest you.

Meeting with an Attorney:  How the Process Works and What to Expect

Although procedures vary from attorney to attorney, below is a summary of the typical procedures followed by WealthCounsel attorneys.

In terms of the initial meeting, some may or may not charge a fee to meet with you to discuss your planning needs. If you are married and the attorney will be planning for both spouses, it is a requirement that both spouses be present at this meeting. Some attorneys will send out a questionnaire in advance, along with an itemized list of documents that you must bring with you to the initial meeting. The initial meeting typically lasts an hour, and you will be asked a series of questions designed to help the attorney better understand you and your family, the concerns that you have, and the objectives you seek to accomplish. For every concern or objective, there are many planning solutions.

In terms of fees, some attorneys will be able to quote a fixed amount at the end of the initial meeting, while others may require a second meeting to determine the full scope of the work involved. Some attorneys operate from a schedule of fees based upon the nature of the legal documents involved in your plan, and can usually provide that information early on in the process.

After the initial meeting, the attorney with whom you are working and your professional advisor(s) if you have them, will meet to discuss the planning options that exist, narrow those planning options based on the collective knowledge of the professionals, and finalize a set of planning recommendations.

Following that, a "solutions meeting" will be held which should last approximately one hour, and is often scheduled within a few weeks after the initial fact finding meeting. At the solutions meeting, the attorney will make specific recommendations designed to address each of your concerns and planning objectives.

Again, fees and procedures vary among our members. But one thing that remains constant is the fact that WealthCounsel attorneys follow a client-centric approach that involves listening to the needs and concerns of the client, and formulating a plan that is guided by the client’s objectives, and not by what the attorney thinks they need.