While many Americans avoid estate planning, it’s a crucial part of financial planning for every family regardless of age or how much money they have. Estate plans include wills, trusts, power of attorney and health care directives as well as distributing assets after death.
Putting a plan in place can also mitigate tax consequences and designate charitable organizations that you want to support. Most of all, an estate plan allows you to avoid potential conflicts by controlling how an executor of your choosing will distribute your assets.
Finding the right fit for an estate planner
Drafting a will or creating a trust can be a complicated process, and you should consider these qualities when searching for an estate planning attorney:
- Experience matters: Look for a lawyer with extensive knowledge of estate and trust laws in New Jersey. Your attorney should also be well-versed in related topics, such as elder law, asset preservation, Medicaid planning, guardianships and conservatorships and probate administration.
- Ask about the cost: When interviewing candidates, ask how much they will charge and how you will be charged. Some set a flat fee, but the amount will usually depend upon your plan. Macri & Associates, LLC offers a free initial consultation to assess your needs.
- Look for a comfortable fit: You will be sharing intimate personal details with your estate planning attorney, so it’s essential you find someone you trust. Realize that this is an ongoing relationship as you will need to update your plan when life events occur, such as the birth of a child or changes to your employment situation.
- Look for professional support staff: Does the attorney have a highly-skilled team that can turn around documents quickly and respond to you and your family’s questions?
Estate planning gives you peace of mind
Having an estate plan is vital to the financial future of you and your family. It allows you to determine how your assets will be managed after you die or become incapacitated. Vince Macri is one of only 450 attorneys across the country certified in elder law by the National Elder Law Foundation. Macri & Associates, LLC will draw on its many years of experience in finding the best plan for you.