23 Oct Estate Planning Lawyer Argentina
Estate Planning Lawyer Argentina
Questions to Ask Your Estate Planning Attorney
Estate planning is not something to which most people look forward because it’s associated with mortality, but it’s important to think of the next generation. If you want your assets passed down to them without incident, you’re going to need to make smart decisions. Fortunately, if you hire the right Argentine estate planning attorney, most of those decisions can be made for you. On the other hand, if you hire the wrong estate planning attorney, you could end up paying a lot more than necessary — and all of your assets might not go to the right place.
The Right Questions:
These questions should help you find the right Argentine estate planning attorney:
What is your experience in dealing with trusts and estates? The quality of this answer will depend on your requirements, but you definitely want to hire someone who has been in the business for a minimum of ten years.
How long will it take you to complete my estate planning project? In most cases, there is no rush. The key is to avoid the probate process (more on this soon).
Will you send estate planning documentation for me to review? Even if you’re working with the most experienced estate planning attorney in the world, you want to review documentation to make sure everything is set up as you intended. Your attorney may be highly skilled, but there’s always the possibility of miscommunication.
Will you be able to assist me with my funding any assets into a revocable living trust? Not all estate planning attorneys will help fund a trust. Assets also must be titled in your name while you’re alive.
Do you offer a formal updating and maintenance program? For a small fee, some estate planning attorneys will offer a semi-annual or annual review. This is important because there may be changes to laws and taxes, as well as to your life. In regards to the latter, adjustments to your estate might be necessary.
Do you quote a fixed price after reviewing my estate planning project? You want this answer to be “yes.” Any estate planning attorney who charges by the hour is not likely to be acting in your best interest, and knowing the charges are hourly, you’re not likely to be very comfortable. Also, some estate planning attorneys will switch from a fixed rate to an hourly rate after a certain amount of work is complete. Be sure to inquire about this possibility so you’re not surprised down the road.
If you’re not available and I need help with something, will anyone else in your office be familiar enough with my estate to help if I have a question? Most estate planning attorneys will make themselves available, so this shouldn’t be a big concern, but it’s still a good question to ask.
If any unexpected issues arise that are indirectly related to my estate, will you be able to help? You’re not looking for a specific answer here. This is more about seeing how the attorney responds. Is he or she willing to offer a little extra? Or is the response all-business and cold? It’s important that you work with someone with whom you feel comfortable.
Is your primary focus on estate planning? You’re looking for a “yes.”
How do we (or I) avoid the probate process? If the attorney directs you toward a will and probate, he might be more focused on his income than your estate planning project. The probate process is expensive and time-consuming.
According to legal statistics, probate costs total $2 billion per year, with $1.5 billion attributed to attorney fees. If on the other hand, an estate planning attorney guides you toward a living trust, he or she is much more likely to have good intentions.
The Bottom Line
Every situation is different, but asking an estate planning attorney these 10 questions should provide you with a lot of information to help you decide whether she is the best option for you, which also would mean the best option for your spouse and/or children.
Estate Planning Lawyer Argentina
Once you’ve located a prospective estate planning attorney, you’ll need to ask the attorney the following list of questions in order to determine if they’re truly qualified to help you:
Is the attorney’s primary focus on estate planning?
This question may or may not be important to you from the standpoint that if all you need is a simple will, power of attorney and health care documents, then a seasoned and sophisticated attorney may not be right for you. An attorney whose practice is broad but includes simple estate planning and probate matters will work just fine in this situation. On the other hand, if you have a complicated family or financial situation or a taxable estate, then you’ll need to work with someone whose primary focus is on estate planning and estate tax reduction.
How many years of experience does the attorney have?
The more years of experience the attorney has – whether the attorney is a generalist or primarily focuses on estate planning – the more the attorney will have had the opportunity to see their essential estate planning documents in action when a client becomes disabled or dies. Our attorneys adapt wills, trusts, powers of attorney, and health care documents according to every specific case. This will give you the peace of mind to know that the documents they prepare for you will work when they’re needed.
Does the attorney assist clients with properly funding their assets into a revocable living trust?
Many attorneys create beautiful estate plans for their clients. However, they fail to assist them with the next important step: funding the revocable living trust. A well-drafted trust will be virtually useless immediately after you die if your assets aren’t titled in the name of the trust while you’re still alive. Some firms have full-time funding assistants or even entire funding departments, while others will give you comprehensive written instructions. Still, others will merely mention the importance of funding but fail to give you any guidance whatsoever. You need an attorney who will oversee the funding process, if necessary.
Does the attorney have a formal updating and maintenance program?
Many estate planning attorneys view their work as a one-time transaction. Also, they simply draft the documents requested by their clients and then send them on their way.
On the other hand, many estate planning attorneys inform their clients about changes in the law. They also explain new estate planning techniques. Moreover, they ask about life changes so as to modify the client’s documents.
You need to work with an attorney who has a formal updating and maintenance program because this will ensure that your plan will remain up to date and work when it’s needed.
Does the attorney charge a flat fee or an hourly rate for providing estate planning services?
This is an important question to ask so that you won’t be surprised by hidden fees and costs. These days the majority of estate planning attorneys charge a fixed fee for most, if not all, of their services. This will give you the peace of mind to know that you only need to pay the flat fee. You’ll need to understand, however, what the flat fee does and doesn’t cover and when the attorney will charge an additional flat fee or start billing you on an hourly basis.
Ask yourself: “Can I see myself working closely with this attorney?”
First, your prospective attorney needs to answer the above questions to your satisfaction. However, even if the attorney has all of the right answers, you need to be comfortable too. Otherwise, chances are you’ll end up holding certain things back. The truth is that the attorney can’t plan for, or around, things that the attorney doesn’t know. It’s better to find this out in the very beginning instead of spending valuable time and money. If this happens to you, simply move on until you find someone who you can work with and trust.
Estate Planning Lawyer Argentina