Upon first contacting the estate attorney’s office it is suggested you make an inquiry as to whether there will be a free consultation or there will be a charge for the first office consultation. The purpose of the first estate planning meeting will be to obtain information and guidance with regard to your family’s situation. It is helpful if a specific plan can be outlined to deal with you and your family’s financial and legal issues.
Wills and Trusts
You may decide after your initial consultation you need a variety of estate planning documents. You should be aware of tax laws and other laws concerning estate matters periodically change and you should follow up with your attorney every few years to make sure your estate planning documents are accurate and up-to-date. Make sure the law firm you retain is in business for a considerable period of time and will be available in the future to help you and your family with your pressing legal needs.
Estate and Retirement Planning
As you move closer to retirement you should have your attorney review retirement related documents you are presented with that relate to financial issues. You should have discussions with your attorney with regard to seeing to it your assets are properly passed to your children or other loved ones. Different techniques can be used to avoid taxation of your assets when they pass from one generation to the next.
Conclusion
If you have accumulated assets during your lifetime you should be careful to see to it that they will be properly received by your heirs and loved ones in a simple non-complicated manner that does not place a burden on your family members after your death.
Elliot S. Schlissel is a member of the National Academy of Elder Law Attorneys representing clients throughout the Metropolitan New York area.
