5 important questions to ask when hiring an Estate Planning Lawyer

House, business or cars—you will be the owner of many expensive assets throughout your life. Have you ever thought what would happen if something changes over the period of time? Whether its personal injury, divorce, family dispute or death, a thorough estate plan allows you to ensure everything goes into the right hand. This provides peace of mind to you and your loved ones. 

Estate plans are indeed one of the most important documents of your life. For this, the Wills and Estate Lawyers Sydney needs to understand your exact situation, adapt to your legal requirements and must fit in your budget so that the estate plan is perfect. Though it’s a tough task to do but by asking the following questions, you can make the right decision. 

1. What information will a lawyer need? 

Estate plans are quite personalised and fall under a complex area of law. An estate plan is often seen as a will in case of your death or you become incapacitated, but in reality, it covers much more than that. Here are a few examples of what an estate plan can include: 

• Power of attorney 

• Future investment plans 

• Living will 

• Retirement plan and 

• Life contingencies 

Here you need a lawyer who knows what information he/she is looking for and how to use it. You may find that you need a lot less or a lot more than you initially thought. 

2. How much experience do you have? 

Once you are aware of the requirements, you would want a lawyer who has experience in doing what you need. It is important to have a lawyer who understands your personal preferences and can tailor their services so that your best interests can be kept at heart. 

On the other hand, you may not want or need an extensive estate plan and look for a will only. In that situation, you might find yourself more comfortable with a less experienced lawyer to handle all your legal matters.  

3. What about the fee?

Legal fees are known for being expensive. The more you pay for the estate plan, the smoother the process is going to be. However, you should try to strike a balance between cost and services offered by Will Dispute Lawyers. 

There are two types of payment methods 

Billable hours 

Billable hours are when the lawyer charges for every single hour spent on your work. You should try and get an idea about estimated hours the lawyer will be needing for your work. Keep in mind that even a short five-minute conversation can add a lot into the final charge. 

Flat fee 

A flat fee can give a clear picture of what you are paying. This type of fee, however, may not cover all legal costs like updates or filing your plans in future. You can find reliable lawyers from online directories. 

4. Can I review a plan before you finalise it? 

 If you need a comprehensive estate plan, you may find the legal terms and arrangements a bit confusing. A review of the plan provides another opportunity to ensure that the legal services match your specific needs. 

5. How will I update my estate plan? 

Your estate plan is a reflection of your personal preferences and your future plans. It may change in the future due to changes in-laws, but there is no better way of distributing assets than estate planning. These are important documents and you must carry them along when you meet the estate planning lawyer for update purpose. 

Conclusion 

An estate plan is an incredibly important legal document that requires the best lawyer. With the above questions, you will be able to hire the perfect lawyer for your specific needs.