#61 ESTATE PLANNING ATTORNEYS Buyer Checklist You Need To Know Before You Spend Your Money. 60 Buyer-Beware Intelligence Points.

Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

“A will can be perfectly valid—and still fail to accomplish what you actually wanted.”

Estate planning is not simply document preparation. The interaction between wills, trusts, beneficiary designations, ownership, taxes, incapacity planning, business interests, and state law can determine what actually happens.

The ABA identifies estate planning as encompassing wills, trusts and probate issues, while the IRS separately treats estate and gift taxation as its own technical area.

1. ☐ Don’t assume a basic will solves every estate problem.
2. ☐ Don’t hire solely because the lawyer is inexpensive.
3. ☐ Verify the attorney’s estate-planning experience.
4. ☐ Ask whether trusts are appropriate for your circumstances.
5. ☐ Don’t ignore beneficiary designations.
6. ☐ Don’t assume your will controls every asset.
7. ☐ Review jointly owned property.
8. ☐ Identify business interests.
9. ☐ Identify real-estate ownership.
10. ☐ Ask about incapacity planning.
11. ☐ Ask about powers of attorney.
12. ☐ Ask about healthcare directives.
13. ☐ Ask how your documents interact.
14. ☐ Ask how often the plan should be reviewed.
15. ☐ Don’t assume an old plan remains appropriate after marriage.
16. ☐ Review after divorce.
17. ☐ Review after births or deaths.
18. ☐ Review after major asset changes.
19. ☐ Ask about state-specific rules.
20. ☐ Ask whether tax planning is relevant.
21. ☐ Understand every fee before signing.
22. ☐ Obtain copies of executed documents.
23. ☐ Understand where originals are stored.
24. ☐ Know who needs access to the plan.
25. ☐ Never confuse document completion with estate-plan completion.

Premium Consumer Checklist

1. Define the Mission

☐ Identify what you want the plan to accomplish.
☐ List beneficiaries.
☐ Identify special circumstances.
☐ Identify assets and liabilities.

2. Vet the Attorney

☐ Verify license.
☐ Verify relevant practice experience.
☐ Ask how many similar plans they handle.
☐ Ask who actually prepares the documents.

3. Inventory the Estate

☐ Real estate.
☐ Bank accounts.
☐ Investments.
☐ Retirement accounts.
☐ Insurance.
☐ Businesses.
☐ Digital assets.
☐ Personal property.

4. Document Architecture

☐ Will.
☐ Trusts if appropriate.
☐ Financial power of attorney.
☐ Healthcare documents.
☐ Beneficiary coordination.

5. Tax & Transfer Review

☐ Determine whether estate/gift-tax issues are relevant.
☐ Identify lifetime gifts.
☐ Ask about federal and state taxes.
☐ Verify current-year rules.

The IRS notes that estate-tax calculations can include real estate, securities, insurance, trusts, annuities and business interests.

6. Final Audit

☐ Every major asset has an intended destination.
☐ Beneficiaries are consistent.
☐ Incapacity instructions exist.
☐ Family circumstances are reflected.
☐ You understand what happens after death.