First Estate Planning Meeting? Here’s What to Bring
If you’ve taken the first step of scheduling a meeting with an estate planning attorney, congratulations! You are on the path to creating a plan for protecting your assets and preserving your legacy.
With your first estate planning meeting scheduled, you may be wondering what to expect. At Margerie Law, my first meeting with clients is all about learning and discovery. We will talk about your life, your assets, and your goals for your estate plan. I will do my best to answer all of your questions about what can be a complex process and help you understand your options for creating the estate plan that’s right for you.
Here are some questions I will ask at our first meeting:
- What questions or concerns do you have about the estate planning process?
- What is your vision for your estate plan? Do you have any goals for the estate planning process you’d like to share with me?
- What are your most closely held values? Why are these important to you?
- What legacy do you hope to leave for your descendants?
- Who are some of your most trusted personal friends or family members? Do you envision them playing a role in your estate plan?
- Do you give to charity? Do you envision a portion of your estate going to charity after you pass away?
- Describe your financial situation. Would you consider yourself wealthy? How did you accumulate your financial assets?
- Do you envision any big life changes like expanding your family, purchasing another home or property, making a big career change, or something else?
After this first meeting, I will carefully consider all of the elements we’ve discussed and design a personalized plan that will work strategically to help you reach your goals. Then, we will meet again and continue the estate planning process.
In order to make this first meeting as productive as possible, here is what you should plan to bring to your first estate planning meeting:
- A list of your questions and concerns about the estate planning process. And remember – no question is too small. It is crucial that you understand each step and feel comfortable sharing with your estate planning attorney.
- A list of your overall life goals, including the age at which you’d like to retire, whether you are planning to expand your family, if you’d like to move to a larger house or purchase additional property, etc. These do not have to be set in stone, but it will be helpful for me as your estate planning attorney to plan for any major changes that may happen across your life journey.
- All of your latest financial statements. This includes retirement, investment, and bank account statements for both you and your partner. If you’re not sure if something is relevant, err on the side of caution and bring it anyway.
- The deed to your home if you own your house, plus deeds to any other property you own.
- Prenuptial or other martial agreements, if applicable to your situation.
- Retirement account information along with info on any annuities you hold. Again, err on the side of caution when deciding what to bring – if you’re not sure, just bring it.
- A copy of any life insurance policies you or your partner hold.
- Name and contact information for your CPA, insurance agent, financial advisor, and any other members of your professional advisory team.
- Health contact information, including for your primary care physician(s) and any other health specialists you see on a regular basis to treat chronic conditions.
- A list of trusted personal contacts you would consider naming to roles in your estate plan, such as executor, guardian for minor children, trustee, or power of attorney. If you’re not sure about this piece, I can help you understand more what these roles entail and brainstorm potential solutions.
If you don’t have any of the above documents, that’s ok. Bring as much information as you can. If you have questions about any of the above, simply give us a call.
Estate planning is one of the most important things you will do in your life. If you haven’t made your first appointment yet, there is no time like the present. Here at Margerie Law, we provide expert estate planning advice and services to residents in Wauwatosa, Brookfield, Waukesha, Milwaukee, and all surrounding communities. Give us a call to get started today.
