Starting to plan your estate can be a daunting, and even emotional process. Many people avoid thinking or talking about anything that reminds them they are not 18 anymore.
The best way to begin planning is by gathering information regarding your assets, liabilities, family, accountant, insurance agent, stockbroker, and other advisors. At our office we provide an estate planning questionnaire to organize all of this information in one place and guide you through the estate planning process.
Once you gather this information, it is time to meet with an attorney to discuss the best plan of action. It is important to research when choosing an attorney to find someone who has the knowledge to create a plan personalized to your life and family situation. You’ll also want an attorney with more than just a few years of experience and who focuses their practice on estate planning. These attorneys will be more knowledgeable of estate planning, relevant tax laws and will have solutions to estate planning concerns you may have.
In an initial estate planning meeting with an attorney you typically evaluate how comfortable you are with the attorney and their knowledge of estate planning. The attorney will gather enough information in the meeting to complete an initial draft of your estate planning documents. Within a few weeks of the initial meeting the attorney produces drafts of the documents for your review and consideration. In the last meeting the documents are typically reviewed, finalized and signed.
Thomas J. Bayles has been providing advice in the areas of trusts, wills, probate and tax planning in the St. George market for over 20 years. Please visit www.jensenbayles.com or call 435-688-9231 and ask for Thomas J. Bayles. The information in this article is for educational purposes and is not intended to be legal advice.