Wednesday, November 19, 2014

No reason to delay your initial estate plan appointment!

Lynn A. Dean,
Estate Planning Attorney
Whenever I’m speaking to the public on estate planning I notice the audience includes two camps.  One, the camp that has already done an estate plan who are wondering how often they need to review or revise.  The other camp are those who have not created their estate plan.  The latter group tend to have preconceived ideas about what is entailed in preparing for the first appointment.   These ideas are likened to the annual tax preparation.   Tax preparation includes anxious thoughts of sorting through mounds of paperwork and negative energy about getting something wrong.  The reality is estate planning is not like doing your annual taxes.  The preparation for the initial consultation is fairly simple and seamless.  You do need to have an idea of who you want to designate as your successor trustee and your power of attorney.  If your first choice becomes unable, who would be your second choice?  Their names, address and phone numbers are all we need.  Also, if you have property, a deed or tax bill will help us prepare a trust transfer deed so your property is put into your trust.   Lastly, a list of other assets such as Investment Accounts (i.e. Fidelity, Account XYZ) can be incorporated into your Trust.  

At the Law Office of Lynn A. Dean, we try to take away the anxiety and give you peace of mind that these essential documents are done and you can get on with living!  Estate planning is not a dreaded annual event.  We recommend that you have your estate plan reviewed every 5 years because life circumstances change.  Many people have not had to do any changes for longer periods, each situation is unique.  Click here for a checklist of what to bring to your estate planning appointment.    http://lynndeanlaw.com/media-dw/resources/will-trust-checklist.pdf