7 Key Characteristics to Consider in an Estate Planner
Making estate plans is only one aspect of being an Estate Planner. An Estate Planning Professional is an important part of your future preparation, however being organized with your information with My Estate Planner is very helpful when going through the estate planning process. Estate planning professionals can assist in covering documents for all angles of your end of life planner checklist; without them, your loved one may be unable to manage your affairs as you wish.You must consult a skilled and knowledgeable estate planning professional to guarantee that your end of life planner checklist will be followed. Although not all estate professionals have the necessary training and expertise. It would be costly to choose the wrong person. Here are the seven key characteristics to consider when you are looking for the best profesional to create your plan:
1. Estate Planning is the Focus. It must be the primary focus of the estate planner because it is a complex process that necessarily involves a wide range of abilities and knowledge. They must know how to manage these plans properly. In addition, they must be familiar and updated with the most recent laws.
2. Has Relevant Experience. Estate plan covers a wide scope of topics, including property law, assets, last will and testament, disability management, and many others. A great estate planner has the necessary knowledge to help you with your plan, especially if your requirements are distinct and complex. They must be familiar with the complexitiy of your estate as well. If they rarely have knowledge of the relevant topic and process, you may end up with a sketchy, half-baked plan.
3. Makes Use of Cutting-Edge Technology. Several estate professionals have been utilizing the same tools and techniques for many years.They may be doing a good job, but they risk considering innovative techniques and practices that could favour both them and the client. If they take advantage of the technology, they can focus on the client because modern technology simplifies the task and eliminates duplicate data entry.
4. Works Efficiently and Effectively. In doing your plan, time is valuable, especially if you are coming towards the end of your life. When looking for the right professional for you, the first question you should ask is how long it will take to create your plan. By doing so, you can then hold them responsible for this timeline all throughout the drafting process. Some dedicated estate professionals can prepare the draft in a matter of weeks and can complete the plan in less than two months. Others require several months or more because they have a large number of clients, which means they are unlikely to prioritize you.
5. Provides Flat Rates. Estate planning costs vary, and most fees are not listed on the estate planner’s website. They should be totally upfront about all costs associated with creating your estate plan. Some of them charge flat fees, while others charge by the hour. Asking for information about the plan coverage can help you avoid unforeseen expenses and other undesirable surprises in the future.
6. Walk You Through Each Phase of the Process. A lot of clients are unaware of the process of estate planning; if they were, they could begin preparing the necessary documents themselves. Hiring an estate planner will guide and assist you across every step along the way, explaining each process in simple terms.
7. Maintains Consistent Contact. If your hired professional has provided you with final plan copies, this should not be the end of your communication with them. The best estate planners contact their clients once a year to revisit and reassess the plan and make any necessary changes. From the time you get them until years after your death, your estate planning professional plays an important role in your life, and constant communication is a simple gesture to express that they are dedicated to you until the end.
In conclusion, it is very helpful to have a professional estate planner to help you plan for the inevitable. The characteristics of the ideal Estate Planner is an expert, has relevant experience and is able to communicate clearly about the costs and the process. However, it is also equally as important to be organized with My Estate Planner. This is the most complete estate planning workbook available to help you organize your physical and digital life. Utilizing an estate planning workbook is important because it will give you the information that you need in one place for your end of life planning needs.
