Estate Planning: What to Think About Before Meeting Your Lawyer

Most people recognize that their estate plan should provide for the distribution of their assets upon their death. That, of course, is an essential element of an estate plan, but there is more to consider in a well-designed plan. Prior to meeting with your attorney for the first time you should also be thinking about such things as who you want to handle your affairs should you become incapacitated, who you want to have the authority to sign important legal papers for you if you are unavailable and who you would want to raise your children if you suddenly die.

A trust may be the right choice for you if it is unlikely that you will acquire more assets in the years ahead. What can often happen, however, is that people will have a trust established and thereafter acquire new assets that they neglect to place in the trust. You can also browse http://speedwelllaw.com/alexandria-estate-planning-attorney/ to get more knowledge about estate planning.

Then when they die the assets outside of the trust have to go through probate which defeats the intent of establishing a trust in the first place. So, before deciding upon a trust as the main element of your own estate plan, take some time to consider your future investment plans and major acquisitions.

Every estate plan should include an advance directive, which used to be called a living will. This document allows you to appoint a health care representative to make health care decisions for you, including the end of life decisions, when you are unable to do so.

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