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Answers To Frequently Asked Questions About Estate Planning

If you’re still on the fence about estate planning or don’t know where to start, information can be inspirational. On this page, we’ve provided answers to some of the most common estate planning questions clients ask us. After reading, you can contact Legacy Law Firm, LLC, and ask your own questions during a free initial consultation.

How long does estate planning take?

It depends on how complex your assets and family dynamics are. Most people complete their estate plan within three to four weeks.

How much does it cost to hire an estate planning attorney?

The cost of an estate planning attorney depends on many factors. These include the work to be done, complexity of the situation, if the lawyer specializes in that area of law, geographic location and years of experience.

Do I need an attorney to start estate planning?

Not necessarily, but it is usually a wise idea to hire one. The issue people run into is that they don’t know the ins and outs of the law. Without qualified assistance, mistakes happen and things get missed. Sometimes these errors can make your estate more troublesome than if you had no plan at all.

Is it dangerous to forego estate planning?

Without an estate plan, you give up control over what happens to your assets and who will be the one to manage your affairs. Additionally, if you have difficulty in managing your affairs, nobody will legally be able to help with financial or medical decisions.

At what age should I start estate planning?

An estate plan is appropriate for any age, though the substance of your plan may change throughout your life. Injury or illness can happen at any time, so it is important to have a plan in place well before you expect to need it.

How do I know if estate planning is right for me?

Everyone needs an estate plan. Not everyone needs a complex estate plan, but having the basics covered is something all of us need.

I have children from my first marriage and have since gotten remarried. What do I need to consider when planning my estate?

There are many things to consider. Blended families are incredibly common in the United States, and they can make estate planning more complex. Feel free to read our page on blended family estate planning, then contact us for case-specific advice.

Are trusts only for the wealthy? Should my estate plan include one?

While many people think of trusts as a wealth protection tool for well-to-do families, they can serve many purposes and can benefit families of varying means. If you have a physically or cognitively disabled child who cannot be fully independent, for instance, you may worry about who will care for them when you are gone. A special-needs trust can be established to help fund their care needs while also keeping them eligible for government financial assistance. Trusts can also be used in blended families to ensure that all intended heirs and beneficiaries receive the funds you intended to leave to them.

In short, trusts are highly customizable, and an attorney can help you determine if one would be right for your estate plan.

Have More Questions? Let Us Help You Find Answers.

Based in Cuyahoga Falls, Legacy Law Firm, LLC, serves clients throughout the surrounding areas of Ohio. If you’d like to learn more about estate planning, contact us today to schedule your free initial consultation. Just call 330-529-7070 or fill out our online contact form.