1. What is your opinion of the probate process?
- The Answer to Listen For: “If you knew how lengthy, complicated, and costly the probate process is, you would definitely want to avoid it.”
2. What percent of your practice is handling probates?
- The Answer to Listen For: “Sixty percent.” Aha! The attorney tells on himself. He does not help his clients avoid the high costs and intricate, frustrating details of probate. Take your business elsewhere!
3. What percent of your practice is setting up living trusts?
- The Answer to Listen For: “Sixty percent [or more].” Yesss! This attorney understands the importance of helping his clients avoid probate. It is worth your time to continue questioning him.
4. How many living trusts have you set up?
- The Answer to Listen For: “Many hundreds.” A good answer. You want an attorney with knowledge and experience with living trusts—at least 500. Remember, he is not simply handling your hard-earned estate . . . a good attorney will be able to make the experience of your death much easier for those you leave behind.
5. Under what conditions do you recommend a living trust?
- The Answer to Listen For: “A person needs a living trust if he owns any real estate, has minor children, or owns assets worth more than $20,000.”
6. If I have a living trust, do I need to name a bank as the trustee?
- The Answer to Listen For: “Absolutely not. In fact, I recommend that you not use a bank. I recommend that you (and your spouse, if you are married) name yourselves trustees of your trust. Your successor trustees—those who take over after you die—should be someone you trust, usually a family member.
7. Ask specific questions about your estate and your objectives, such as: How can I reduce estate taxes? How can I provide for children from a prior marriage? How can I leave money for my child's education?
- The Answer to Listen For: “Good questions. a) Of course, each person has different particulars about his estate, but generally, the steps taken to help reduce estate taxes follow certain guidelines. In your case . . . . b) Now, there are specific details to which we must attend when estate planning includes stepchildren. For example . . . . c) As to leaving money for your child’s education, there are several options. We can weigh the pros and cons of each, and you can choose the one that seems best for you . . . .” An experienced attorney should have meaningful and thoughtful answers that show he has considered these situations before.
8. How long will it take to set up my trust?
- The Answer to Listen For: “Setting up a trust should never take longer than three weeks.
9. Do you personally draft my trust, or do you use a software program created by someone else?
- The Answer to Listen For: “There are pros and cons to both options. But I feel more comfortable with the trusts I personally draft because of my extensive experience in this area. I know that the trusts I draft will stand up in court. I know they incorporate the proper legal language. I know that the trusts I draft offer the best possible protection for my client.”
10. How many times do I meet with you during the process of preparing my trust?
- The Answer to Listen For: “I typically meet two or three times with each client.”
11. What do you charge to set up my living trust? And, specifically, what does that fee include? Do you transfer my property into the trust?
- The Answer to Listen For: “I charge somewhere between $1,200 and $3,000—depending on the complexity of your estate. Your first consultation with me is free. At that time, I will gather information and quote my fee. Half the fee is due before I begin your work. The other half is due when you come in to sign your documents. The fee includes all copies, phone calls, and the transferring of all your assets into your trust. We always handle the transferring of the client’s property into his trust. I have found that if we don't do this, too often it doesn't get done. Yet the transfer is the most important part of a living trust. It is called “funding the trust.” Many attorneys fail to fund the living trust. That important detail will cause your estate to go through probate. And that is the very thing we are trying to avoid.”
12. What do I need to bring with me to our first conference?
- The Answer to Listen For: “At the time you make an appointment for your first consultation with me, my office will send you an Estate Planning Questionnaire. Bring the completed questionnaire and all the documents mentioned therein (deeds to any real estate you own, insurance policies, etc.) to your first consultation.”
13. If I have more questions after you set up my trust, may I call you? What is the charge?
- The Answer to Listen For: "Yes, you may call my office at any time. No charge."
14. Can you send me information about wills, livng trusts, and probate?
- The Answer to Listen For: “Certainly, I will be happy to do that!” An estate planning attorney should have on hand printed information packets about wills, trusts, and probate.
