ESTATE PLANNING FAQs

QUESTION

ANSWER

1	How often should I review my documents?	I often recommend reviewing your documents every few years or as needed. (Example: Change of trustees, agents, or executors.) Alert your estate planning attorney whenever there is a big change in your life. Such major life events include: 1. A purchase of new property. 2. Death, move, change in relationship, etc. 3. Expecting a baby. 4. Getting a divorce. 5. Starting a business. 6. Making investment decisions.
2	I do not have much monetary means. Do I really need an estate plan?	Yes, you need estate documents. If you do not have the necessary documents in place, you have a lot to lose. If you have a medical emergency, you will want a trusted contact to have the authority to speak on your behalf. You do not want to wait.   Further, all your assets will be inaccessible to the trusted family or friends you leave behind. It is also highly likely that your valuables will not be distributed according to your wishes.
3	Will updating my documents cost the same as when I had them originally drafted?	No, you can rest assured that in most cases updating your plan will not be the same as the initial cost.   With that said, there is an exception. The cost will vary depending on the work that needs to be done. i.e., the work is substantial, there are several changes I would like implemented OR the work is minimal, I just want to change who I list as my Executor or Agent. Please reach out to us for a free consultation.
4	Will I be charged for the initial consultation?	No. The initial consultation is free of charge.