Here’s An Opinion On:
Estate Planning Attorney: Preparing for a Meeting
by
Andrea Avery
You don\’t technically need to do anything to prepare for a meeting with an estate planning attorney. Just having taken the step to set up a meeting is more than many people take, and you should be proud and confident in your decision to move forward with responsible financial progress. One of the worst things a person can do to their heirs is to leave their assets in disarray. More often than not, it leads to infighting, resentment, and family problems that can last a long time. You can avoid all of that by making specific plans ahead of time. While you can think through specific decisions with your lawyer, here are some things you may want to discuss prior to your meeting.
Guardianship
If you have kids under the age of 18, one of the first things you need to think about is who will act as their guardian should you be unable to. So many parents fail to think of this, and it can have dire consequences for the child. You don\’t want your child to wind up as a ward of the state, moving through foster homes, and experiencing a very unstable life after you\’re gone. No one likes the idea of preparing for the worst, but you should do so. Think about who will take care of your kids before meeting with your estate planning attorney, as this is one decision he\’ll be unable to help you with.
Finances
If you were ever to reach the point where you couldn\’t handle your own finances, who would you want put in charge of them? Some feel comfortable entrusting financial control to an estate planning attorney or another professional in the field. Others want control handed over to a relative. This is up to you, but it is another important thing you need to think about. When you\’re healthy and loving life, it seems nearly absurd to consider such an unlikely scenario. But it happens all the time. Make arrangements while you\’re of sound mind.
Your Heirs
What will become of your money, assets, and property after you\’ve died? For those who have none of these things (and there are certainly more than a few people who can say this), it is of little concern. But if you have savings and ownership of property, you need to consider who will receive it should you pass away. This is something you can discuss with an estate planning attorney, but it is a decision you\’ll ultimately have to make on your own.
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