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Estate Planning Attorney in Traverse City
If you are a little worried about the meeting. An estate planning attorney, for the first time, you are not alone. But fear not — this first conversation is just a start in a process. That is going to help you do a better job of protecting what you have. So that you can see that all of your wishes are given the respect they’re due moving forward. Well, if you’re up in Traverse City and you want to do an estate plan. Then you would have a pretty good idea, generally, what that meeting of initial planning looks like.
An Introduction and a Conversation
You often get to start your first meeting with small talk. The lawyer offering elder law services in Traverse City will almost certainly want to hear about you — about your family situation, your financial hopes, your fears. History trivia: You don’t have to be “ready” at every answer. And you certainly shouldn’t think you should be a master of legal words or proceedings.
Considerations of Your Financial and Other Conditions
For you to get the best estate plan possible, your attorney needs to know everything about your financial and personal history. They can inquire about your assets — your home, your bank accounts, your retirement savings, your business stakes. You’re also going to be asked who your family is — are you married, do you have children or other dependents, is anyone in your home stranger than fiction? Those assets can play out interestingly in Traverse City, where you have a lot of people who have second homes, family land, or seasonal properties.
Exploring Your Wishes and Goals
(It’s the fundamental issue of estate planning.) Your attorney needs to be hearing from whose great emptiness you stand astride. This may involve naming guardians for your children, deciding how your assets will be divided, and who will make decisions if you are unable to do so. They can guide you through critical documents, like wills, trusts, powers of attorney, and health care directives. But don’t wring your hands about whether or not you know what you need to know — because actually, you don’t need to know that, any more than you need to know any of the other things your lawyer’s going to explain as part of the case.
Clarify Fees and Timelines
At your initial visit, costs and next steps will also be discussed. Fees should be set in writing, whether a flat fee to create an estate plan or by the hour. They will also explain what the timeline should look like — how long it will take to write documents, to give feedback on them, and what it will take to finalize the plan.
No Pressure, Just Planning
One thing to remember is that you’re not making decisions at your first meeting! It’s a time to ask questions, share goals, and start talking through a strategy that might work. A qualified Traverse City estate planning attorney will not hurry YOU, but enable you to be educated and feel confident in your decision.
Leaving with Clarity
By the end of the appointment, you should have a clear idea of what your estate will be made up of. As well as any supplementary documents that you will need. You may also get a list of documents. You will be required to gather, or at least consider, by your next visit. Whether you are preparing a plan for the first time or updating an existing plan. This initial meeting is a critical step toward protecting your future and that of your family.
Final Thoughts
Estate planning isn’t just for the wealthy and the elderly. It’s for anyone who wants to gain control over his or her assets after death. Talking to a Traverse City estate planning lawyer is a nice and responsible way to protect your loved ones and the people you love the most. A wise system, with the right supports, should be relatively easy and individual, and even empowering.
FAQs
Do I need to bring anything to my first appointment?
Basic financial information may be helpful, as would lists of your assets and liabilities, any existing wills or trusts. If applicable, and the names of people about whom you have been thinking of appointing as decision-makers in your plan. If in doubt, your lawyer can guide you, but being prepared makes things move faster.
What if I’m not sure how to describe exactly what I would like?
That’s perfectly okay. The first meeting is meant to help start at least the wheels turning on those conversations for you. Your attorney will guide you with your helpful questions. You don’t need all the answers — just something to say about what you want and what you’re concerned about.
How long does the estate planning process usually take?
It varies, but approximately one month after our 1st meeting, all required documents will be drafted. Your lawyer should be able to give you a concrete time frame according to your needs and the complexity of your estate.
Would everything be decided in the first encounter?
No, the initial meeting is a time for us to learn about your situation, gather information, and talk about possible planning options. You leave with a road map, but the final advised decisions typically come later — sometimes after more consideration, dialogue, or both.
Do estate planning tools only apply to older people — or people with a lot of resources?
Not at all. Estate planning is for anyone willing to spend the time to manage what happens to their stuff, to their minor kids, and to their health care should you, for any reason, be unable to manage those details for yourself. It’s about its preparation and the peace of mind it can bring you, regardless of your age or the amount of wealth you’ve accumulated.