Tips for Working With Your Estate

2026 is the year for your Estate Planning! It may have been on your to-do list for months or years.

Now you’ve made the call and you have the appointment with the estate planning lawyer. Here are some tips to streamline the process:

• First are the preliminaries: Expect a clear fee agreement. Will the lawyer charge a flat fee? If so, what services/documents are included in the flat fee? If the lawyer will bill at his or her hourly rate, can you get a range of what you might expect to pay for your estate plan?

• Plan to provide information about your family, including family dynamics.

• Bring a complete list of your assets, including current values, even if only best estimates, and any encumbrances. Bring copies of statements and deeds. If you have an interest in a partnership, LLC, or corporation, bring copies of the organizational documents. Do you have accounts with “pay on death” beneficiaries? Who are the beneficiaries of your life insurance and retirement accounts? Do you own assets jointly with another person?

• If you have legal obligations to support or leave a portion of your estate to a child or spouse, such as in a premarital agreement or Court order, bring a copy to the meeting.

• Bring your notes about how you want your estate to be distributed when you die. Will there be restrictions or limitations on distribution? Will distribution for a younger beneficiary be delayed to an older age?

• Who should be your Successor, Trustee, or Executor – the person in charge of settling your affairs and distributing your assets? Think about possible incapacity and who should make financial decisions for you when you cannot.

• What are your wishes for end-of-life medical treatment and who should make health care decisions for you when you cannot?

• Do you want a funeral or memorial? Would you want to be cremated or buried? Have you already paid for a burial plot or cremation?

• Bring all your questions - there are no dumb questions. Lean on the experience of the lawyer to explore solutions you haven’t thought of or to provide options based on how others have approached a similar situation.

• Allow for a reasonable amount of time for the lawyer to prepare the documents. There is no one-size-fits-all estate plan where documents are produced at the touch of button. You can expect some boilerplate provisions; they are there for a reason. But the essential provisions of your estate plan documents will be tailored to you and your beneficiaries and to carry out your unique estate plan wishes.

Planning Ahead Column

By Lisa Alexander, Esq.

JAKLE, ALEXANDER & PATTON, LLP

310-395-6555