An experienced estate planning attorney can help you avoid alienating family members when you’re not giving the same thing to each person. The attorney should also help you choose a trustee. The trustee needs to be someone who lives close by which may not be the person who is closest to you in relationship. The right attorney will help you work through the family relationships, which matter more than the money and assets.
Because of this, choosing the right attorney is important but it is not always easy. You want to look for someone who cares about building a relationship with you rather than someone who just goes through the motions and pushes the paperwork. An attorney needs to get to know you in order to assist you in building the legacy you desire. Every family has its own complexities. A good attorney will make inquiries about this. The high maintenance or untrustworthy family members will be taken into account. Your plans for future education and charity will be considered. Finding an attorney who shares your values can be extremely beneficial and make the process of estate planning easier.
Beyond that, a good attorney will play well with others. An estate planning attorney cannot do it all nor can he do just his part without communicating with your CPA and investment advisor. Communication among these different branches is vital.
A good attorney sees these other players as a part of their team rather than competition. After all, they all have the common goal of helping you. Interaction among all of your financial helpers provides balance and helps confirm that your fiscal assets are distributed according to your specifications.
Keep in mind that the relationship you have with your attorney is long term. Your attorney’s job is not over until after you have passed, and everything has been distributed according to instruction. Even after that occurs, your attorney might be used by another family member. Therefore, you want your attorney to be someone who will commit to you and meet your expectations, as well as value your trust.
With long-term commitments comes change. Families and family situations are dynamic. Thus, frequent communication with your attorney is necessary. You want your estate plan to change in order to match your present situation. It is your responsibility to notify your attorney of changes, but the attorney should also have a system set up for staying in contact with you.
In addition to shifting family situations, laws shift as well. This also needs to be reflected in your plan. Consequently, your attorney needs to be educated on current laws and changing clauses within them.
Communication between you and your attorney is not enough. The attorney needs to keep other people updated in order for things to run smoothly. For example, a trustee might need instruction on what to do. This instruction can be provided by the attorney.
It is possible to find the right attorney for you. This person will be looking to build a team for your benefit. Spend some time getting to know an attorney before you fully commit. Remember that you want an attorney who has beliefs similar to yours in order for you to be more relaxed during the lifelong estate planning process.
