If you live in South Carolina, estate planning is more than just papers and signing legal documents. There are several requirements that a South Carolina estate planning attorney can help their clients with. Hiring an estate planning attorney is the most empowering decision and does not have to be fearful for you. You want a person who is an expert and who has the skill to help you with estate planning so that you don’t end up spending a lot of money. Consider these questions to ask your estate planning attorney.
What is included in an estate plan?
This is one of the most important questions to ask your attorney. A will’s basic documents include a power of attorney, a living will, a testament, and a healthcare power of attorney.
Having young children may require a guardianship provision in your estate planning and a minor’s trust to protect and preserve their money.
You may also need to consider other trusts if you own many assets, such as real estate, businesses, and other valuable items. This is to protect and preserve these assets for your loved ones.
How do you charge for your services?
Some attorneys say they charge a flat fee but hide miscellaneous costs like postage, courier, telephone, photocopy, recording fees, etc. You should find an estate planning lawyer who bills their services on a flat-fee basis. If the court requires it for limited purposes, he could charge on an hourly basis.
You will need a lawyer who understands you and your family background and helps you choose the right plan according to your budget.
What if I become medically incapacitated?
This is probably the most crucial situation to be in, and hence an important question to ask your attorney. If you become medically incapacitated for any reason like a sudden illness, coma, etc., who will make financial, business, and healthcare decisions on your behalf? An estate planning lawyer will help you out with suitable options.
How and when should my estate plan be revised?
An estate plan is not a one-shot thing, and you will need to revise it regularly to update it. Your attorney must be informed of any change in your asset or family. These include marriage, divorce, childbirth, adoption of child/grandchild, the birth of child/grandchild, financial gains/losses, etc.
Do I need a trust?
Many people think estate planning is a matter of creating a will. However, a will alone will probably not suffice if you want your heirs to avoid probate court. One way is to set up a trust.
An estate planning lawyer can help you determine the type of trust that will accomplish your estate planning goals.
