Closing Thoughts: Preparing For Your Initial Consultation

Questions To Prepare For Meeting With An Estate Planning Attorney

During your initial consultation, your estate planning attorney will likely ask you some questions to understand your situation and goals, including things such as:

• If married, are you and your spouse on the same page?
• Do you want your assets to go to specific people, such as any children you may have?
• Are there any concerns about the responsibilities of your trustee, executor, or guardian?
• What is your citizenship status?
• What is the citizenship status of your trustee? (It’s preferable that the trustee be a U.S. resident and at least a green card holder to avoid potential negative tax implications, especially for those who have recently arrived or are not permanent residents.)
• What is the value of your estate? Is it close to the federal tax exemption? (This exemption changes frequently, so the attorney will consider the total value of your estate, including retirement accounts and life insurance, whether you’re single or married.)
• Do you have assets outside of the U.S., such as in India or China? If so, you may want to consult a local attorney in those countries regarding these assets.
• Do you have any business interests, such as LLCs or corporations? These would need to be included in your estate plan as well.

Documents To Prepare For Meeting With An Estate Planning Attorney

For your initial consultation, there isn’t any specific documentation you need to prepare. However, at Insight Legal, we provide clients with a questionnaire, a PowerPoint presentation, and a roadmap outlining the entire process. If you’re eager to get started quickly, you can fill out the questionnaire, which we will review together, especially regarding your chosen fiduciaries.

One common point of confusion surrounds selecting spouses as fiduciaries in a joint revocable trust. We often clarify that the spouse is typically the default fiduciary, but it’s important to consider who you would want as a fiduciary outside of your marriage if both spouses pass away.

We also discuss the general value of your estate. There’s no need to provide detailed information about every bank or brokerage account, as these can fluctuate over time. Instead, we ask for a general overview of your accounts and tangible assets. Specifically, we need information about:

• Real estate, including property addresses and how the title is held.
• Any business interests you have.
• Special considerations, such as a special needs child, a pet trust, or any specific one-off gifts you wish to make.

Ranvir Sandhu, a dedicated attorney at Insight Legal in California, brings extensive experience in estate planning and corporate law to each client consultation. He has masterfully guided clients through the complexities of estate planning, helping them secure their assets and ensure their wishes are honored. Known for his hands-on approach, Ranvir personally oversees every step of the process, ensuring that each estate plan is thorough and tailored to the client's unique needs.

Safeguard your future today and contact Insight Legal to set up a free consultation.

What Sets Insight Legal Apart

What sets Insight Legal apart from other firms is our approachable nature and commitment to robust, streamlined documentation. We utilize Wealth Counsel for our documents, ensuring that everything is done quickly and efficiently. We prioritize communication, whether it’s via email, telephone, Zoom, or, if necessary, in-person meetings.

We take our work seriously and adopt a hands-on approach. With us, you’ll interact directly with your attorney, not just staff or non-legal personnel. For every estate planning signing, you’ll meet with your attorney to conduct the signing, not a third-party staff member.

During the signing, we thoroughly cover the funding process of your trust and address any last-minute questions you may not have previously considered. We also provide an extensive overview of how the entire process works. We complete several hundred estate plans per year and are continually growing, with much of our business coming from repeat clients due to our excellent customer service.

In addition to estate planning, we also handle corporate law, which often intersects with estate planning. This wellspring of contextual knowledge and experience we draw from serves as part of the way we provide leading service. For example, a business with significant value may go through probate if not properly addressed in the estate plan. We ensure that such businesses are referenced in the trust and that ownership is transferred accordingly. Additionally, for clients with multiple investment properties, we often recommend holding those assets in an LLC, with the trust as the owner of the LLC.

Still Have Questions? Ready To Get Started?

For more information on Closing Thoughts, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (510) 916-2100 today.