Legacy Talk™
By Lisa McCurdy, The Legacy Architect™
What Should You Expect During the Estate Planning Process?
People ask me all the time: What actually happens when I work with an estate planning attorney? Here is exactly what you should expect, and what you deserve.
Step 1: Initial Goals Conversation
Before we can make any recommendations, we need to hear from you. We want to know what you hope to leave behind, who is in your family, what you own, and anything that makes your situation unique. This first conversation is all about understanding your goals.
Step 2: Engagement Agreement
After that first conversation, we put together our recommendations and outline them in an engagement agreement. This document also explains the cost of our services so there are no surprises.
Step 3: Gathering Your Information
This step is about collecting the details we need to build your plan. That includes your full legal name, address, family members’ names and birth dates, a complete picture of what you own and how it is titled, and the names of people you trust to serve in key roles, such as Trustee, Executor, or Attorney-in-Fact of your Power of Attorney.
Step 4: Drafting Your Documents
No two clients are the same, and your documents should reflect that. We design your estate plan around your specific goals and circumstances. Once the drafts pass our internal review, we send them to you to read.
Step 5: Your Review
This step matters more than people realize. Read through your documents carefully. Check the spelling of names, review how your assets are listed, and make note of any questions. Understanding what your documents say, before you sign anything, is essential.
Step 6: Attorney-Guided Review
We walk through your documents with you, one by one. We explain what each document does, when it will be used, and how it works. At the end of this step, you should feel confident, not confused.
Step 7: Signing Your Documents
Based on your review and any updates needed, we finalize your documents and schedule your signing. Depending on the documents, this may also require witnesses and a notary.
Step 8: Funding Your Trust
If we create a Trust for you, the next step is moving assets into it, a process called “funding.” A Trust with no assets is just a set of instructions. It only becomes a real protection tool once it holds property and accounts. And if you want your estate to avoid probate, most of your assets need to be in your Trust.
Step 9: Ongoing Plan Maintenance
Estate planning is not a one-time event. Laws change. Families change. Your assets change, and your goals evolve with the different stages of your life. That is why you should work with an estate planning attorney who offers periodic maintenance meetings where we review your plan, check how your assets are titled, and make updates as needed. Though there may be an additional annual or biennial fee, it’s well worth it to ensure your plan remains of benefit to you and continues to reflect your values.
An ongoing, dedicated estate maintenance program also includes: Education for the people you have named as Trustees and other fiduciaries; Guidance on keeping your beneficiary designations current; Memoranda on helpful estate and related topics; Notification when there are changes in the law that impact you; Opportunities for updated plan design and structure; Consultations to answer ideas you are contemplating or questions that have arisen; Funding help when you acquire new assets; Assistance with updates on changes; Coordination with your other advisors such as financial, banking, insurance, and others if you manage an active private business
Your Legacy Is Bigger Than a Document
Creating a legacy does not happen overnight. And it is not just about what you leave behind when you die. A legacy is also the impact you make while you are alive, through your finances, your values, your generosity, and the lessons you pass on to the people you love.
Think about the legacy you want to create. Then tell us about your family, your assets, and your goals. We will take it from there, designing a plan that protects what you have built, honors what you believe, and gives you genuine peace of mind.
The Wealth Counselor, LLC was founded to make estate planning feel less like preparing for death and more like building something that lasts. We are reshaping the conversation, from death, dying, and disability to principles, values, and the unique gifts each family brings to the world.
Ready to #LegacyonPurpose? Connect with me on LinkedIn: https://www.linkedin.com/in/lisamccurdyhankins/