Engaging in estate planning is an essential process, despite its knack for making individuals consider potentially distressing aspects, such as their mortality and the wellbeing of their dependants once they’ve passed away. For many, the process might seem overwhelming, but having a solid understanding of what a first meeting with an estate planner might entail can go a long way towards alleviating some of that anxiety.
Courtesy of Burns & Levinson LLP, let’s take a look at what legal professionals should communicate to their clients when embarking on this process.
Naturally, every estate planning professional will advocate for a comprehensive estate plan. Indeed, it’s an integral part of ensuring that an individual’s wishes regarding their estate are carried out posthumously. It’s no small task, considering the level of organization required and the significant decisions that must be made, all of which will have profound implications for their loved ones.
So, what key aspects should one anticipate in their initial meeting with an estate planner?
- Getting Organized: Legal professionals should advise their clients to compile pertinent documents prior to the meeting. These documents may include an inventory of their assets, real estate deeds, lists of personal belongings, and information about any insurance policies.
- Making Decisions: Clients should be prepared to start making decisions that will impact their estate and loved ones. These can include choices about potential trustees and executors, and discussions around how the estate should be divided amongst beneficiaries.
- Legal Advice: As legal professionals, estate planners should walk their clients through the legal jargon, explain the implications of their choices, and offer legal advice to help simplify and guide the decision-making process.
Needless to say, estate planning is not the most glamorous of tasks, but it is without a doubt, indispensable. As such, legal professionals must strive to make this process as clear and palatable as possible for their clients.
The prime aim is to ensure that when one’s time comes, their wishes regarding their estate are realized in a manner as seamless as possible, minimizing distress for their loved ones. And to do so, a well-laid out estate plan, created with the aid of a professional estate planner, is crucial.