Answers To Some Common Questions
Estate planning comes with a lot of unknowns. There are many different options to create an estate plan. Each person is different, so it can be difficult to determine what you specifically need.
Here are some commonly asked questions:
When should I consult a lawyer?
There is never a better time to get started with your estate plan. Young professionals, new families and retired individuals all have need for an estate plan. I will help you include the most important elements based on your age, family situation, career and other factors.
Should I go with a trust or a will?
A trust is a more flexible document, and it allows you easier control of the transfer of assets, addition or deletion or change of beneficiaries or change of other amendments while you are alive. A will is more difficult than a trust to amend. Wills and probate will also transfer title at death, but trusts do so more easily and privately. I will work with you to determine which document is right for you.
I don’t have a lot of assets. Do I still need an estate plan?
Yes! Your car, personal property, house and bank account are things that need to be accounted for in an estate plan. What’s more, things like health care directives, power of attorney and guardianship should be established as soon as possible. It is important that everyone have an estate plan.
Is estate planning expensive?
Do-it-yourself and internet wills and trusts may seem like the right choice because they are inexpensive, but the one-size-fits-all nature of them can be woefully inadequate. Estate planning, trusts and wills are very personal, and individually crafted documents that are done right are far more satisfactory in every respect. Remember, estate plans are legally binding, and will save your loved ones the confusion and conflict that will certainly come without an estate plan. That is worth paying a reasonable fee to get the personalized, comprehensive estate plan you and your family need.
Get The Help You Need
An estate plan is an important task that everyone must complete in their lifetime. To do less is short-changing your family and your peace of mind. Consult with me, Jon T. Oden, Attorney at Law today. Schedule an initial consultation telephone or email consultation by calling 972-429-4032 or sending an email. When you schedule a consultation, I will email or mail you a confidential, personal questionnaire that we will use to discuss your goals and personal plans.