Age Gracefully With A Plan In Place

How can you prepare for your estate planning consultation?

On Behalf of | Feb 9, 2023 | Estate Planning |

It isn’t easy to contemplate an end to life, much less plan around it, but doing so is vital during your life and after you die. Through estate planning, you can provide for your loved ones, preserve your assets and direct your healthcare.

Those who have never created a will or other legal documents often find the prospect of estate planning overwhelming. Knowing how to prepare for your initial consultation with your counsel can help you feel less intimidated.

Make a list of questions and concerns

You probably have many concerns and questions about estate planning. Feel free to ask your representative about anything you don’t understand. Free-flowing communication between you both ensures your plan meets all your needs.

Examples of topics to ask about:

  • Wills
  • Types of trusts
  • Powers of attorney (financial and medical)
  • Advance medical directives
  • How to obtain tax breaks
  • How to avoid probate

Ask your representative to explain if you hear a phrase or word you are unfamiliar with during the meeting. It’s critical to your plan that you understand what these terms mean.

Bring the following items along

For ideal results, go into your meeting ready to begin work on your estate plan. That means you will need to bring a few things with you, including:

  • A list of your heirs and beneficiaries
  • A list of candidates to execute your estate plan
  • Financial records (financial statements, real estate deeds, etc.)
  • Prenuptial or divorce agreements

The list above does not include everything you might need, but it can help you get started. Another way to prepare for your consultation is to review the legal ins and outs of estate planning in Indiana or wherever you happen to reside.