Creating an estate plan is a great way to ensure that your final wishes are honored, and your estate is managed the way you want it to be when you’re no longer able to oversee the process. While you can create an estate plan on your own, doing so isn’t the best option. Instead, you’ll want to work with an experienced Illinois estate planning attorney to help you create a comprehensive plan. But there’s more to choosing an attorney than meets the eye. You’ll want to make sure they’re the right fit for your needs and your goals.
The Questions to Ask Before Choosing an Illinois Estate Planning Attorney
It’s a good idea to schedule consultations with each estate planning attorney you’re considering working with before moving forward. These consultations are your chance to get to know them and make sure you’re comfortable working with them for the foreseeable future. Here are a few questions to ask during each consultation to help you find the right fit.
How Much Experience Do You Have?
Ideally, you’ll want to work with an attorney who has at least a few years of experience in estate planning specifically. Typically, the longer they’ve been an estate planning attorney, the more complex situations they’ve encountered and helped others prepare for. Choosing an inexperienced attorney could make you vulnerable to gaps in your estate plan. And those gaps could cost your loved ones when they inherit your estate.
Do You Specialize in Estate Planning?
Though many attorneys are capable of creating an estate plan for you, it’s important to look for an attorney who specializes in estate planning. These individuals are deeply familiar with the rules and regulations surrounding estate planning, trusts, probate, and other concerns. They’ll be better able to help you create a plan that works and looks out for your best interests. Choosing an attorney who specializes in estate plan means you’ll be able to leverage their experience to ensure that your plan covers everything you need it to and leaves nothing out.
What Will My Estate Plan Include?
Your estate plan is a comprehensive and living document that should include the following at a minimum:
- Your will
- Any trusts you set up
- Powers of attorney
- Asset inventories
- Beneficiary and guardianship designations
- Funeral arrangements if desired
Keep in mind that this is far from an exhaustive list. But if the attorney you’re interviewing suggests that all you need is a will, it’s time to look for a different legal expert. Estate planning is complicated and the types of documentation your plan should include will need to address all of your concerns.
How Do You Charge for Your Services?
Attorneys charge for their services in different ways. Some charge hourly, others charge flat fees, and still others use a hybrid approach. Before you agree to work with anyone, make sure you’re comfortable with the way they bill and the prices they charge for their services. If you have any concerns, discuss them with each attorney before signing any paperwork.
Can You Work With My Financial Advisor?
Since estate plans typically include directions for your financial assets like your investment accounts and retirement savings accounts, it’s likely that your attorney will need to work with your financial advisor and other financial professionals to make sure everything is accounted for and handled correctly in your estate plan. If an estate planning attorney refuses to work with your chosen advisor, keep looking and interview a few more attorneys.
Schedule a Consultation Today
The best way to make sure an Illinois estate planning attorney will be able to help you create a comprehensive plan is to schedule a consultation and meet with them in person. At Legacy & Life Law Firm, our team is here to help. Contact us today to book a free consultation and see how easy estate planning can be.