1.  The cost is ridiculously inexpensive (you do get what you pay for!);

2.  You can create a document 24/7;

3.  No extra fees to pay an attorney to do what seems to be a pretty easy job…just answer a few pop up questions;

What these programs do not assist you with is:

1.  Going beyond the basic questions that need to be asked;

2.  Thinking through the next step;

3.  Suggest what might be a more appropriate option for your personal situation;

4.  ANSWER YOUR LEGAL QUESTIONS!!!

Number 4 above is what prompted me to write this blog today.  I received an email from an individual who wanted to find out about recording a power of attorney in North Carolina that she just recently had created for her mother.  When I asked her why she didn’t speak with the attorney who drafted the document for her she told me that she had it created on-line by a well known company and that she thought the next step was to record it in North Carolina.  The problem here is that she is asking for legal advice on a document that was created outside the guidance of a North Carolina attorney and more importantly not by me.  Why is it important that I did not create the document?  Well, if I had done it for her I wouldn’t now  have to ask her:

1.  Is your mother incapacitated?

2.  What type of Power of Attorney is it?

3.  What does the power of attorney say?

You do not receive the legal advice that is required to properly draft these types of Estate Planning documents from an online service.  It is the foundation of having a document that will actually work when it needs to be used.  In the long run she may actually pay more than what she would have if she consulted a licensed North Carolina attorney in the first place.

Have any additional questions, contact us at (704) 843-1446 for a free phone consultation!

When you make an appointment with our Firm, you will be sent 3 documents to review prior to the meeting.

1.  Welcome Letter:

This is primarily to familiarize you with our office policies and procedures and to also discuss the basic estate planning strategies.  It gives you a basic discussion of the end result of  a Last Will and Testament based plan versus a Revocable Living Trust based plan.

2.  Family Information Worksheet:

This is for the client to complete and bring to our meeting.  It asks for names, addresses, contact information, birth dates, childrens’ names, etc.; typical  personal information.

3  Asset Worksheet:

This is also to be completed by the client and brought to our initial meeting.  It is broken down by type of asset so that you can list your assets, how they are owned, the value and beneficiary names.

Having these 3 documents reviewed and or prepared prior to the meeting has three purposes:

1.  It forces you to gather your assets and know what they are. Far too many have assets and don’t even know their value, who owns it or even if they are in existence anymore…especially when it comes to Life Insurance policies and 401Ks.  This isn’t helpful at all.

2.  It allows us to spend more time together discussing the actual plan and how it will help you and your family.  Having to collect this information at our initial meeting could take 30 to 45 minutes or longer.  Compare it to  the endless forms you have to complete while waiting to be seen at your doctor’s office.  You won’t have time to fill out forms at your scheduled appointment time  with me because you will never have to wait long enough for me to fill out the forms!

3.  It gets your mind focused for the discussion you will be having about your death, your children’s caregivers when you pass, estate taxes, etc.  You will think of questions that you didn’t even realize you needed to be thinking about.

There is little preparation, but it goes a long way!

The lesson to learn from this tragedy is that you should partner only with advisors that are experienced and caring and that have only your best interest at heart and care about your future and not the size of their fees.

When I draft Estate Planning documents, I always assume that my client could die tomorrow. I also make certain that my clients understand that the provisions in the Estate Planning documents can always be changed in the future. Also, and this is probably an obvious statement to many, but, if you are married the only time your child will have a Guardian appointed is after the second parent dies.

Listed below are points I tell my clients to consider in choosing the proper Guardian.

1. The age of the person? If your guardian is too young perhaps he or she is not at the right place in his or her life to care for a child. Or, if he or she is too elderly perhaps he or she is not physically capable of caring for a child.
2. Does he or she have children already or plan on having children? Maybe he or she already has all the children they can or want to care of or he or she wants to have more children and could not be able to care for others in the future.
3. Is this person married? If so, you need to consider whether you like the spouse as well. After all, your child will be living in the same home as the spouse. If he or she is not married, you need to consider whether you are comfortable with your child being raised by a single parent. There are some difficult obstacles that a single parent faces raised every day.
4. What are the religious beliefs of the person? This is something to think about if it is important for you to have your child raised with the same religious beliefs as you are currently raising them.
5. Is he or she a blood relative or relative by marriage? Be careful if you are considering nominating an “in-law”. You should always consider the possibility of divorce, regardless of how happy they are today.
6. Does your child actually like this person? You may think he or she is the perfect person to raise your child, but if your child does not have or show the same feelings towards that person, you may be causing more harm than good.
7. How drastic will your child’s daily life change? Think about whether your child will have to move (in or out of state) or change schools. This could be a difficult transition without having just lost your parents. Imagine how difficult that would be if it is due to your parents passing away.
8. Does this person have pets? If your child has allergies which may be drastically affected by living in a home with a pet, that home may not be the best place for your child to live. Many people will not give up their pets that easily.
9. What type of job does this person have? Think about whether that person has to travel for work or has a job that is considered dangerous. This may mean that your child may have to go to daycare (not that that is a bad thing) or potentially even be faced with loosing another loved one.
10. Would you live with this person? You cannot expect your child to live with someone if you could not see yourself living with this person!

It is my job as an attorney to give the good, the bad and the ugly. These points are to provide my clients with as many possibilities to consider before making a very important decision. In order to make the best decision for your family based on what your family’s needs, beliefs and traditions are, I supply the things to consider in making that decision.

Referral
If you do not have the benefit of a referral, you can call your local County Bar Association.  They will provide you with a few names and telephone numbers of attorneys in your area.

Internet
The internet is a wonderful resource.  You are able to search numerous attorney websites for attorneys in your area and get a real sense of who they are by viewing their websites.  Often times they will provide legal information so that you can educate yourself.

Local Yellow Pages
Of course, you can still use the good old and trusted Yellow Pages!  Believe it or not, I have received numerous calls from clients who have found my contact information in the local phone book.

Business Associates
Your banker, financial planner, local real estate broker and agent are great people to be in the position to refer an Attorney.  Attorneys often times will visit with local business owners to introduce themselves and tell them about their practice; leaving their business cards behind, of course!

Regardless of how you are put in touch with an attorney, you should keep some things in mind:

How long has the attorney specifically practiced Estate Planning and What percent of his practice is dedicated to Estate Planning

I am in no way implying that an attorney who has practiced longer than another attorney or dedicates a larger percent of his practice to Estate Planning than another attorney is more able to prepare an Estate Plan.  You need an attorney who is up to date on the changes in the laws.  It is more likely that an attorney who dedicates a significant portion of his practice to Estate Planning has kept up with any changes in the laws.

Is the initial consultation free?

Some attorneys will charge a flat fee and others will charge you an hourly fee. It depends entirely on what attorney firm you use and often times it depends on what county they practice in.

What documents exactly will be drafted as part of your Estate Plan?

A properly drafted Estate Plan does not only include a Last Will and Testament, but it should include other Advanced Directives. These include a Power of Attorney, Health Care Power of Attorney and A Desire for a Natural Death (a/k/a Living Will).  Some Estate Plans may warrant a Revocable or Irrevocable Trust.

Speaking and thinking about our own death is not an easy subject for many of us to confront.  Just the thought of leaving my child to grow up without her mother sinks my heart and brings tears to my eyes.  It is almost as difficult to discuss our personal finances, beliefs and feelings with a person we probably have never met before.  You absolutely should feel comfortable with the attorney you chose.  The attorney should be sensitive to the issues that will be discussed and compassionate in his or her handling of your family matters.