If you want to walk out of the office with a comprehensive inheritance plan that perfectly reflects your wishes you must make sure that you fill your attorney in on all relevant details. With this in mind we would like to highlight five things that your estate planning lawyer definitely needs to know.
Do Previously Executed Legal Documents Exist?
To be certain that your current wishes are carried out to the letter you must let your attorney know if you have ever executed a will or any other estate planning documents previously. If you have entered into any marital agreements this too is something that your lawyer will need to be told about.
Secret Relationships
There are those who maintain long-term clandestine relationships. In some cases children have resulted. Though it may be quite uncomfortable to discuss this with anyone, it is better to let your lawyer know in advance than have individuals step forward after your passing to challenge your stated wishes.
Medical Conditions
In some instances estate planning lawyers will recommend certain legal instruments that require the client to live for a certain period of time in order for the strategy to be successful. If you are aware of a medical condition that you have that could take your life this is something that is relevant to your estate planning efforts.
Life Support
Would you want to be kept alive indefinitely via the use of artificial life-support measures if you were unable to communicate and in a terminal condition? This is a question that you must answer through the execution of a living will.
Large Gifts
The estate tax is unified with the gift tax, and with the proper planning your exposure can often be mitigated. As a result you should let your attorney know about any large gifts that you have given because they could have significant tax consequences.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
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