The 5 questions you need to ask an estate planning attorney
ARTICLE PROVIDED BY COLORADO & COMPANY
Whether you realize it or not, you have an estate. Property, vehicles and bank accounts are just a few examples of the assets that make up an estate.
Estate planning is that part of the law that allows us, during our lifetime, to determine what will happen to our assets upon our death. Meeting with an estate planning attorney is the best way to make sure your assets are protected and your wishes are carried out. The ideal time to meet with an estate planning attorney is usually after a marriage, the purchase of a home, the birth of a child, or the illness or death of a family member.
Some of the key questions you should ask your estate planning attorney are:
1. What are the assets I need to protect and how are they titled?
2. How do I best protect these assets for the benefit of my spouse and dependents?
3. How does my plan change if I have family dynamics such as disabilities, second marriages, children from different marriages, civil unions, or death of a family member?
4. What are the tax implications of my estate planning?
5. Should I have designated beneficiaries for non-probate assets such as life insurance, investment accounts and bank accounts?
The law firm of Solem, Harris & McKinley located in Englewood specializes in estate planning, Medicaid planning and trusts, probate litigation and more. Your initial consultation is free, solemlaw.com. Estate planning is a very important and positive step you can make for yourself and your beneficiaries.