3 Effective Ways to Manage Estate Planning Expenses
Hiring an estate planning attorney may involve a notable financial investment, but the benefits and protections they offer make this investment well worth your while. It’s a proactive step to ensure your wishes are legally enforceable and followed, providing for your loved ones as you intend. Additionally, investing in an expert estate planning attorney ensures that your inheritance is not at the mercy of the courts or state law, nor vulnerable to creditors, divorcing spouses, or lawsuits. Here are three proactive steps you can take to manage estate planning expenses:
Prepare for Your Estate Planning Consultation
Before taking a meeting with your estate planning attorney, have a list of what you own, what you owe, who you’d like to manage your affairs, and what you will be leaving to who. Also, consider possible changes. For example, who will manage your affairs should your first choice be unable to do so? Having these questions answered before you meet with your attorney will streamline the process.
Simplify Without Sacrificing Protection
It’s vital that your estate plan expresses your wishes in a way that is simple for your loved ones. In most cases, the more straightforward an estate plan is, the faster it will be for your attorney to draft and maintain, meaning less attorney fees. However, there is a fine line: you don’t want to oversimplify your plan because it might miss important details or fail to address specific contingencies. Striking the right balance ensures your plan is easy to follow while being comprehensive enough to protect your interests and loved ones. Our estate planning attorneys will recommend the best estate plan for you without charging unnecessary fees for tools and features you do not need.
Review Your Estate Plan Frequently to Save on Major Updates
Your estate plan needs a review every 3 to 5 years or after a significant life change. Doing so with your attorney is crucial to prevent costly legal disputes down the road. And while many people have to update their estate plans at various points in their lives, small, frequent updates are less expensive than large overhauls.
Securing Your Future With Customized Estate Planning Solutions at Law Stein Anderson
Investing in an estate plan secures your legacy and protects your loved ones. We’re committed to providing the best solutions without unnecessary estate planning expenses. Contact us for a free consultation to discuss how we can help you put the right tools in place—while staying within your budget. Take the first step toward peace of mind today!