The first quarter of any year is always busy at estate planning attorney offices when people are catching up with the creation of an estate plan or revisions they meant to get done before the year ended but didn’t get around to finalizing. A recent article from the Press-Telegram, “New Year, new motivation for your estate plan,” shares some pointers for how to get this important to-do done.
The article is very clear: first, find an attorney. You aren’t expected to walk into an estate planning attorney with all the information you need or the answers. Their title, after all, is “counselors.” They help people work through all of the details. Most experienced estate planning attorneys also have organizers they provide to help guide you in listing assets, family members and ideas about what you’d like your plan to achieve. An estate planning attorney will keep you focused and organized.
Most people meet with two or three attorneys to see who they are most comfortable with. Is the office convenient for you, or can most discussions take place by phone or video chat? Did they explain how their own process works? Did they answer all of your questions? Were you treated with kindness? Or, if your estate is complicated, did they understand the complexity of your estate and the challenges about which you are concerned?
The article explains how searching for the least expensive attorney can create problems in the future. You want a professional with experience and understanding of estate planning techniques and the nuances of estate planning. For the same reason, don’t try doing your own estate planning with an online platform. These platforms have narrowed options down to the simplest and most common, and you won’t get the guidance you need regarding whether these are the best options for you.
The recent Los Angeles fires are a dramatic reminder of how quickly everything can change. If you don’t have a will, power of attorney, health care directives and trusts, and something unexpected occurs, what will happen to your family and your property? Who will know what you want regarding healthcare if an illness or accident occurs, and you can’t communicate your wishes?
Knowing where your estate planning documents are and sharing their location with people you trust is an oft-overlooked part of estate planning. If your documents are hidden deep within your home, will the person you named as a healthcare proxy be able to access these documents in a timely manner? Who knows the combination if they are locked up in a home safe?
Estate planning documents are often needed in an emergency. Make sure the people who will be using them can find them. Some estate planning attorneys provide clients with a binder and a thumb drive, so documents can be easily stored and shared. Where should the binder go? Don’t put this in a safe deposit box. If the safe deposit box is in your name and you are incapacitated or have died, no one will be able to retrieve the documents.
You hope you won’t need estate planning until your eventual demise. However, as we know, life happens, and the documents could make managing your affairs far more manageable for those you love. Start the new year off right by taking care of your estate plan and, by extension, your loved ones.
Reference: Press-Telegram (Jan. 19, 2025) “New year, new motivation for your estate plan”
