When you have finally amassed a sizable fortune and an estate worthy of passing it on to your heirs. it might finally be time to sit down with an estate planning lawyer. It helps to have some idea of what you want to leave to whom. Here are some tips to help make the visit smoother and easier.
Make a List and Assign Assets
First and foremost, make a list of your assets. It does not matter what order you list them in--just put them down on one side of a sheet of paper. Then think about who you want each of these things to go to after you pass. Place the names of your heirs directly across from the items you want to assign to them. Make a copy of this list so that you can give the handwritten copy to your lawyer.
Consider Any Special Requirements You Might Want to Add
There is always something or someone you want to be careful about, especially when leaving him/her part of your estate. If there are any special requirements you want placed in your will, now is the time to write them down so that you do not forget to discuss them with your lawyer and/or you do not forget to place them in your will. You will want to make sure because if you forget, and your lawyer completes the draft of the will and you sign it, it will cost you extra to amend it to include things you forgot.
Write Down Anything You Want to Ask Your Lawyer
If you have any questions about posthumous processes regarding your will, the estate, probate, etc., then make sure you write them down before going to see the lawyer. A lawyer, even an estate planning one, charges by the minute/hour, and realizing after your visit that you have some more questions can cost you more money to call or email the lawyer. It also helps to ask these questions as you go along so that the wording of your will is clear, clarified and understood by you to be exactly what you want.
Be Prepared to Read the First Draft of the Will at the Initial Meeting
It does not always happen, but it is possible that the first draft of your will will be ready to sign at your first estate planning meeting with your lawyer. If it is ready by the time the meeting is coming to a close, the lawyer will ask you to sign it. Make sure you have made time to read the will in its entirety before you sign it and not just sign it in haste. Ergo, block off at least three hours for the drafting of your will. If you get out sooner, that is good, but you should be prepared for a long meeting.
For more information, contact a firm such as Skeen Law Offices.