Frequently Asked Questions

Frequently Asked Questions > Preparing for the Estate Planning Process (13 entries)

I am getting ready to go to a lawyer for estate planning. What should I do to prepare?

Getting a will or living trust to meet your needs doesn't have to be complicated. There are things you can do before meeting with the lawyer that can help move ...
What should I do first?

First, you need to think about why you are going. For most people, this will be to have your will drawn and to get related powers of attorney. Think ...
If I do not intend to leave my assets to my family, but to other people or charities instead, do I have to leave my children, parents, siblings or spouse anything, even a dollar, or can I disinherit t

You do not have to leave anyone anything, not even a dollar. It is best to acknowledge in a will that you are married and have children, or siblings, etc., ...
Should I tell my attorney about my child with an alcohol problem or my other child who may get a divorce?

Yes, it is very important to discuss with your attorney any special needs your beneficiaries may have. Some clients have children with alcohol or drug problems or potentially divorcing spouses ...
How detailed a list should I make of my assets?

The attorney needs to know the general nature and extent of your assets. He or she does not need to know which stocks you own, just that you own stocks ...
Do I need to bring a copy of the deeds to any real estate I own?

No, at least not to the initial meeting. You need to tell your attorney what real estate you own and where it is located. If the real estate is ...
Do I need to list all my personal property, all the furniture in the house, jewelry, cars, etc.?

No, this usually is not necessary. However if you have specific items of property that are unusually expensive, such as jewelry, art or antiques, you should bring this to the ...
My assets, even my bank accounts, fluctuates daily in value. Do I have to give the attorney a value for all my assets?

Yes. Of course in this economy it is expected that values will be fluctuating a lot. Therefore an exact value of your investment portfolio is not necessary. Approximate ...
How can I tell the value of my real estate? Does real estate have to be valued?

For estate planning purposes, the attorney will need a “ball park” value for your real estate, whether it is your house, residential rental property or raw acreage. You can provide ...
Do I have to know exactly whom I want as my executor, trustee, guardian for my children, etc. before I meet the attorney?

Not necessarily, although you should be thinking about this. The attorney can give you good advice in selecting appropriate persons or entities to do these jobs. You may name ...
My last attorney asked me how much of my property was community property and how much separate and I did not know the answer. Do I have to know this before I can get a will prepared?

No. Usually this is a legal question that an attorney will have to determine. The attorney will need you to provide information to help him or her make this ...
Should I try to prepare a complete financial statement of our personal finances for the attorney, or is there a form I can use?

Some estate planning lawyers prefer that the client complete an estate planning questionnaire before the initial visit, while others do not. A financial statement has some but not all information ...
How much should I expect to pay for a will and related documents?

This is a hard question but one you should discuss with the lawyer at or before the initial meeting. Often people call us and ask what their estate plan will ...