To maximize the value of our upcoming consultation, we suggest gathering certain key documents and information.
A thorough understanding of your financial situation is crucial for crafting an effective estate plan. Take the time to comprehensively evaluate:
Real Property and Rentals: Make a detailed list of all real estate you own. Include primary residences, vacation homes, rental properties, and any other real estate investments. Assess their current market value and any associated mortgages or liens.
Financial Assets: Compile information about your financial assets. This should include checking and savings accounts, retirement accounts (like IRAs, 401(k)s), stocks, bonds, mutual funds, and other investment accounts. Don’t forget to include any valuable personal property like jewelry, art, or collectibles that may have significant value.
Debts: Document all current debts. This includes mortgage balances, car loans, credit card debts, personal loans, and any other liabilities. Clarify which debts are secured (such as mortgages or car loans) and which are unsecured (like personal loans or credit card debts).
Business Interests and Loans: If you own or have an interest in any businesses, prepare details about your share, the business's valuation, and any outstanding business loans. Also, include information about any money owed to you or debts you owe to others, whether personal or business-related.
Anticipating future inheritances can impact your estate planning:
Potential Inheritances: If there’s a likelihood of inheriting assets, property, or money, consider how this might influence your current estate planning. Provide any available details about the expected inheritance, including the type and approximate value.
Reflect on your familial relationships and who you want to include or exclude in your estate plan:
Disinheritance: Clearly identify if there are any family members or dependents whom you intentionally want to exclude from your estate. This could include estranged relatives or others whom you do not wish to benefit from your estate.
Beneficiaries' Money Management Concerns: Consider beneficiaries who may not be capable of managing a significant inheritance due to age, lack of financial acumen, or personal issues. This could necessitate special provisions in your estate plan, such as trusts.
Special Needs Considerations: For beneficiaries with special needs, ensure that any inheritance does not disqualify them from government benefits. This often involves setting up a special needs trust.
Your personal goals will guide the structure of your estate plan:
Selecting Caretakers: Decide who will manage your affairs or take care of you if you become incapacitated. This includes choosing agents for medical and financial powers of attorney.
Asset Distribution: Determine how you want your assets to be distributed. This involves decisions about who inherits what, when they inherit it, and in what form (such as outright gifts, trusts, etc.).
Charitable Giving: If you intend to leave a portion of your estate to charity, identify the organizations or causes and the type of legacy you wish to leave.
Our consultations that last between 30 to 60 minutes are designed to provide a comprehensive understanding of how our firm can meet your specific estate planning needs.
During this initial meeting, we delve into a detailed discussion about your current situation, your financial assets, family dynamics, and your long-term objectives. This time allows us to thoroughly evaluate whether our services align well with what you’re looking for. We place a strong emphasis on understanding your unique circumstances and goals to ensure that our approach to estate planning is a perfect fit for you.
If we find that our expertise and services are in line with your needs, we then schedule a follow-up meeting. This subsequent session is dedicated to exploring your estate planning requirements in greater depth. We discuss various strategies and options, addressing any specific concerns or complexities in your situation. This two-step process ensures that we not only understand your estate planning goals but also provide a tailored and effective plan to achieve them.
This meeting is not only about providing information but also about addressing any concerns or queries you may have. We encourage you to bring a list of all your questions, no matter how small or complex they may seem. Our goal is to ensure you leave our meeting with a clear understanding and a sense of confidence about your estate planning journey. We're here to guide you through every step, answer your questions, and help you make informed decisions for your future and legacy.
Looking forward to our meeting and to addressing all your estate planning needs.
As you embark on the important journey of estate planning, Askander Law is here to guide and support you every step of the way. You are more than just a client to us; you are a valued individual with unique needs and aspirations. Our role is to be your dedicated advisor, understanding and addressing the challenges specific to your estate planning journey.
We are committed to ensuring that each decision you make not only secures your future but also reflects the legacy you wish to leave behind. Let's work together to turn your vision into a lasting reality.
Contact Us
Tel: (909) 610-6200
Email: contact@askanderlaw.com