Preparing to Meet with an Estate Planning Attorney

Oct. 19, 2022
ComPsych Guidance Resources
Word cloud featuring estate planning in the center, surrounding by other financial and legal terms

Make your initial meeting with an estate planning attorney productive by having already gathered vital family and financial information. Not all of these items may apply to you and this is not an exhaustive list.  In addition, your attorney may have you complete a questionnaire they provide. Having this information ready is the first step so your attorney can advise you on the best estate planning options to meet your 
needs.  Prepare the following for both you and your spouse/partner, if applicable.

Family Information 

  • Names, birthdates, addresses, and current contact information for you and your next of kin which may include a spouse, children, parents, siblings, etc.
  • Names, birthdates, addresses, and current contact information for anyone who is not family that you plan to provide for in your estate plan
  • If any of the above individuals have a disability, or special needs and receives government assistance now or may in the future  through SSI, Medicaid or other means-based government programs, be sure to provide information regarding their condition and government benefits

Asset Information
Provide the type of asset, how it is titled, the financial institution, if applicable, and the approximate value.  Common assets include:

  • Bank accounts (checking, savings, money market, CD) 
  • Real estate (include the amounts of any outstanding mortgages, lines of credit or other liens) Vehicles (include lien information such as a balance due on a loan)
  • Bank accounts (checking, savings, money market, CDs)
  • Investment or brokerage account
  • Stock Certificates
  • Retirement accounts (401(k), 403(b), IRAs, pensions)
  • Life insurance policies (type, term, death benefit, cash value, beneficiaries) 
  • Business interests 
  • Intellectual Property
  • Miscellaneous assets (mineral rights, collectibles, jewelry)

Important Documents
If you have the following, bring copies for your attorney to review:

  • Current estate planning documents (living trust, will, powers of attorney, healthcare advanced directives)
  • Prenuptial agreement
  • Divorce decree and marital settlement agreement

Estate Planning Objectives 
Carefully consider who you trust with each of these roles and it’s always a good idea to have at least one alternate.

  • Who do you want to manage your finances if you are unable to do so yourself?
  • Who do you want to make healthcare decisions for you in the event that you are unable to do so for yourself
  • Who do you want to settle your affairs after you pass away?  
  • If you have minor children, who would you want to have custody of them and make day-to-day decisions? Who would you want to manage their finances until they are either adults or another predetermined age?

Beneficiaries
Think about who you want to leave your assets to after you pass away.

  • Names and contact information for individuals 
  • Names of any charities to which you want to make a gift
  • List of any specific items or sums of money that you want to leave to specific people or charities 

©2022 ComPsych ® Corporation. All rights reserved. This information is for educational purposes only. It is always important to consult with the appropriate professional on financial, medical, legal, behavioral or other issues. As you read this information, it is your responsibility to make sure that the facts and ideas apply to your situation.