Planning what happens to your assets and savings after you are gone can be challenging because of all the legal and financial considerations. This is why many people ask for help from an attorney in estate planning. But, what about people who did their own estate planning. Individuals who crafted their own estate plans? As an estate planning lawyer in Bergen County, NJ from a firm like the Law offices of Joshua Kaplan can explain, a review by an experienced estate planning attorney can be useful if you know what questions to ask.
When to Get a Review
The higher your net worth or the more complex your estate, the more valuable an expert review of your estate plan will be. Trust and estate attorneys routinely consult with clients to help them keep their estate plans updated. Has there been a significant change in your life since drawing up the plan? Some events that warrant a review include:
- Divorce or marriage
- Adoption of a child
- Change in your financial goals
- Serious illness or disability of your spouse
- Child or grandchild reaches adulthood
- Starting, buying, or closing a business
In short, almost any event that substantially impacts your financial situation merits an estate review. An attorney will be able to talk you through the legal implications of these changes and help you decide what to change.
An estate planning lawyer will advise you on how your changing life circumstances might affect how your assets will be handled. A financial advisor will help you understand how this change affects your financial future. This is why consulting an attorney is advisable.
Choosing the Right Attorney
You and your attorney may want to review your plan every three to five years, or when a major event happens, such as retirement. If you are looking for an attorney to go over your plan:
- Ask for a referral
- Look for someone who specializes in Trusts and Estates
- Use an attorney licensed to practice law in your state
- Look for an attorney who asks smart questions during your initial phone consultation
Go to your attorney with a list of questions to ask. Sometimes important things slip the mind, so having a written list of questions can help. Bring documents of copies of documents that seem relevant, such as the terms of a divorce settlement or new life insurance. Bring documents specific to whatever event prompted your interest in a review.
Contact an Estate Planning Lawyer Today
Estate planning is too important to take chances with the details. An estate planning lawyer can help you make the right decisions for you and your family. Call an attorney today.