Frequently Asked Questions
I have an older Will or Trust that has not been updated. Is there anything I should be concerned about?
There are a few considerations. Estate plans can be outdated or obsolete if major changes have occurred since the creation of the plan. The law changes, your personal situation changes, and your financial circumstances change. Any of these changes could mean that the plan should be updated or upgraded.
How much does an Estate Plan cost? What are your fees?
Fees for estate planning vary based upon the features and services that a client desires. In the initial meeting a fee is quoted for an estate plan appropriate for the circumstances. There is no fee for the initial consultation.
What do I bring to the initial consultation? What can I expect?
You may want to bring basic financial information such as the types of property you own and the approximate value, life insurance information, and copies of deeds to any real property that you own. If you have ever created a Will or Trust, please bring in all of those documents including any amendments. I may request additional documents that would be needed at a later time.
The initial meeting starts with talking with you about your current plan, what you may want to accomplish, and any additional protections that you may want to consider. I review your documents and answer any questions. I will quote you a fee for services and explain the process that would be needed to complete your plan. In most cases a Living Trust plan would take only two additional meetings after the first and can be completed within a few weeks.
Do I have to transfer property when I have a trust?
Assets should be re-titled to trust after the documents are signed. In simple cases the law firm will transfer real property and the client will transfer any accounts and change any beneficiary designations.
For clients that replace an outdated trust with a new restated trust, property does not have to be re-transferred in most circumstances.
