If you took my advice in my last blog entry, you have found an estate planning lawyer with whom you feel comfortable. Is there anything you should do before you go to that first appointment?
If your lawyer sent you a planning questionnaire, you should definitely complete the questionnaire. A planning questionnaire will typically ask about who your family members are, including your spouse, parents, siblings, children, and grandchildren. It will also ask you about your assets, liabilities and how each are titled.
If your lawyer didn’t send you a planning questionnaire (some lawyers go over the questionnaire at your first meeting or send it to you after you agree to become a client), you should start making your own list of assets and liabilities. Your assets are your checking and savings accounts, certificates of deposit, stocks, mutual funds, bonds, jewelry, art, antiques, real estate, cars and retirement accounts. Your liabilities include your mortgages on all real estate that you own, your credit card debt, car loans, and any other loans.
If you have previously done your will, durable power of attorney or advance health care directive (it may also be called a living will or a health care proxy), you should get copies to bring to your lawyer. Add in a copy of all deeds to your real estate and copies of all insurance policies and annuities (along with the beneficiary designations).
Make a list of all banks where you have an account or a safe deposit box and all investment companies where you have an account. Add in the contact information for your accountant, your financial advisor and your doctor. If you have purchased a cemetery plot, write down the name of the cemetery.
Think about who your current beneficiaries are on any currently signed wills and decide how you want to change your estate plan. Are there new children in the picture? A new spouse? Grandchildren? Did one of your beneficiaries die? You should decide who you want to be your executor, trustee of any trusts you create in your estate plan, your agent to handle your financial affairs if you are incapacitated, and your health care proxy who will make medical decisions for you if you are unconscious or unable to speak for yourself.
Your estate planning lawyer will be asking you these questions, either at your first meeting or at a subsequent meeting. You will get more out of each meeting if you are prepared ahead of time.
Depending on their ages, you may or may not want to discuss your possible estate plan with your beneficiaries. You may want your loved ones to know why you are making the decisions that you are making or you may want to wait until after consulting your lawyer who may suggest other options. You may also want to keep your estate plan private until after you die so that you don’t have to face any arguments over your decisions that may anger your beneficiaries and others who believe they should be beneficiaries.
This is just a start and there may be more to do once you have met with your estate planning lawyer. But by following these steps, you will have made a good start.
Please feel free to forward this blog post to your colleagues, listserv members or favorite bloggers. Or if you would like to run it (in whole or in part) in any publication or quote from it, simply include my name and URL: http://www.GronskyLaw.com. No prior permission needed. To inquire about joining my list to receive my blog posts or my availability to speak to your group or write an article for your publication, please email me at RGronsky@Gronskylaw.com. Thank you!
Thursday, November 12, 2009
Tuesday, November 3, 2009
How to Pick a Lawyer
About 3 years ago, I wrote an article about “How to Pick a Lawyer” which can be found on the internet at http://ezinearticles.com/?How-to-Pick-a-Lawyer&id=164511. The article goes through some ways in which you can find a lawyer in any specialty (start with referrals from people you trust) and lists a few questions to ask each attorney that you may be hiring.
I’ve been a lawyer for over 25 years but no one has ever asked me the questions that I set out in that article. Mostly, I get asked about my fees. In some cases, that’s the only question that I’m asked.
Don’t hire a lawyer because he is the cheapest one around. Likewise, don’t assume that the most expensive lawyer is the best, just because he charges the most.
Make sure that the lawyer that you pick does a fair amount of the type of law that is your issue. Each area of law can be complicated and depending on what your problem is, you may need a fairly sophisticated. This lawyer may charge more, but may also save you a great deal in time and aggravation. Likewise, if you have a fairly simple problem, don't go to the largest firm in town who only works with the biggest clients. If you are a smaller client, they may not give you the attention you deserve.
But, regardless of how easy or difficult your legal problem is, you want a lawyer who treats you like a person, not like a number. What do I mean? You hire a lawyer, you want to be able to speak to your lawyer, not a secretary, not a paralegal. If the lawyer that you want to hire takes a couple of days to just return a phone call, find someone else. You want your lawyer to give you an idea of how long it will take to meet to discuss your problem, how long the process will take, and what you should expect along the way.
Lastly, you should feel comfortable talking to your lawyer. If you get the impression that he doesn’t seem interested in you and your problem, this isn’t the lawyer for you. You should be looking for a lawyer that you can work with for years, since a good lawyer knows other good lawyers in other legal specialties. Your lawyer should be able to refer you to another lawyer if he doesn't practice the type of law you need. You should want a lawyer whom you can consult about all of the legal issues in your life.
Find a lawyer who will make you feel at ease, confident that you have chosen someone that you can consult about your legal needs as your life changes.
Please feel free to forward this blog post to your colleagues, listserv members or favorite bloggers. Or if you would like to run it (in whole or in part) in any publication or quote from it, simply include my name and URL: http://www.gronskylaw.com. No prior permission needed. To inquire about joining my list to receive my blog posts or my availability to speak to your group or write an article for your publication, please email me at RGronsky@Gronskylaw.com. Thank you!
I’ve been a lawyer for over 25 years but no one has ever asked me the questions that I set out in that article. Mostly, I get asked about my fees. In some cases, that’s the only question that I’m asked.
Don’t hire a lawyer because he is the cheapest one around. Likewise, don’t assume that the most expensive lawyer is the best, just because he charges the most.
Make sure that the lawyer that you pick does a fair amount of the type of law that is your issue. Each area of law can be complicated and depending on what your problem is, you may need a fairly sophisticated. This lawyer may charge more, but may also save you a great deal in time and aggravation. Likewise, if you have a fairly simple problem, don't go to the largest firm in town who only works with the biggest clients. If you are a smaller client, they may not give you the attention you deserve.
But, regardless of how easy or difficult your legal problem is, you want a lawyer who treats you like a person, not like a number. What do I mean? You hire a lawyer, you want to be able to speak to your lawyer, not a secretary, not a paralegal. If the lawyer that you want to hire takes a couple of days to just return a phone call, find someone else. You want your lawyer to give you an idea of how long it will take to meet to discuss your problem, how long the process will take, and what you should expect along the way.
Lastly, you should feel comfortable talking to your lawyer. If you get the impression that he doesn’t seem interested in you and your problem, this isn’t the lawyer for you. You should be looking for a lawyer that you can work with for years, since a good lawyer knows other good lawyers in other legal specialties. Your lawyer should be able to refer you to another lawyer if he doesn't practice the type of law you need. You should want a lawyer whom you can consult about all of the legal issues in your life.
Find a lawyer who will make you feel at ease, confident that you have chosen someone that you can consult about your legal needs as your life changes.
Please feel free to forward this blog post to your colleagues, listserv members or favorite bloggers. Or if you would like to run it (in whole or in part) in any publication or quote from it, simply include my name and URL: http://www.gronskylaw.com. No prior permission needed. To inquire about joining my list to receive my blog posts or my availability to speak to your group or write an article for your publication, please email me at RGronsky@Gronskylaw.com. Thank you!
Subscribe to:
Posts (Atom)
