How long does it take to complete an estate planning project?
An estate planning project is a pretty broad term, so there's no one-size-fits-all time frame. You may have an easy, uncomplicated situation that doesn't require the help of a lawyer or an accountant to complete. In most cases, you'll want to get started on your estate planning project as soon as possible, although it's understandable that some people don't start until they are older and have accumulated significant assets.
In any case, if you're looking for a rough estimate of how long it takes to complete an estate planning project in general, here are some factors to consider: -The amount of information you need to compile about yourself and your family -The extent of the estate planning process -Whether you need to make more than one trip to meet with your lawyer or accountant -Anything else that will lengthen the process
As you can imagine, it depends on the lawyer, but overall it usually takes between 1 and 2 days to complete an estate planning project. We find that most people come in ready to sign the documents and get started on their estate planning, which makes things go even more quickly.
The short answer is that it takes as long as it takes, but there are some elements that can be brought under control. For example, if you want to maintain control of your assets until you die and then leave your estate to a specific person or group of people, the process is quite simple. If you want to set up a trust that provides for your children after you die, you'll have to take extra steps such as drafting a will, naming guardians for your children, and possibly even drafting a trust while you're still alive. If you want to leave your money to an organization or cause in your will, the process may be simpler or more complicated depending on how much of your estate you want to go to the organization or cause. The amount of time it takes for an estate planning project also depends on whether there are any issues with your health or finances that need to be addressed before going forward with the project. It's possible that if there are serious health issues—or if a family member is handling the estate planning project—that someone might need to spend more time than usual handling other matters before continuing with the project. And, if you're older than 60 and don't have an estate plan already in place, it's important to know that having one could help.
If you need an estate planning attorney, please call this law firm for free consultation.
Parklin Law
5772 West 8030 South, Unit N206,
West Jordan, UT 84081
(801) 618-0699