Frequently Asked Questions
Answers to Your Most Common Questions
FAQs about Wills, Trusts and Probate
Estate planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure. It can involve the services of a variety of professionals, including your lawyer, accountant, financial planner, life insurance advisor, banker and broker.
What should I bring with me to the initial meeting with the attorney?
Before your meeting, our staff will guide you through a short list of questions which will help the attorney prepare. We find that most people have a generally good idea of what they own and who the people are in their lives that could act as agents upon death or disability. We encourage our clients to leave their documents at home for the first meeting.
How long will it take to create my estate plan?
The staff at Beaupre Law is here to guide you through the necessary steps to help you move through the process. We generally find that the process takes about 60 days to complete, on average. But if you have a tight deadline, we may be able to complete your plan in as little a few weeks.
What is probate?
Probate is the legal process through which the court sees that, when you die, your debts are paid and your assets are distributed according to your will. If you don’t have a valid will, your assets are distributed according to state law. Probate can be expensive, time consuming, invites controversy, and lacks privacy.
What is an "estate?"
For many, the term "estate" conjures images of mansions and piles of money. But your estate is simply everything that you own and everything that you owe. It's your entire net worth, from the property you own, to all your bank accounts, investments, and everything in between. It often includes any rights or interests you are entitled, as well.
What is a trust, and how can it benefit me?
A trust is a legal arrangement where a trustee holds and manages assets on behalf of beneficiaries. Trusts can provide numerous benefits, including avoiding probate, reducing estate taxes, and protecting assets. Consulting with a trust attorney in NH can help you determine the best type of trust for your needs.
What types of trusts are available?
There are various types of trusts, including revocable living trusts, irrevocable trusts, special needs trusts, and charitable trusts. Each type serves different purposes and offers unique benefits. Our trust attorney in NH can guide you through the options and help you choose the right trust for your situation.
How can a trust help with estate planning?
Trusts can play a crucial role in estate planning by ensuring your assets are distributed according to your wishes, minimizing estate taxes, and avoiding the lengthy probate process. A trust attorney in NH can help you integrate trusts into your estate plan to provide for your loved ones and achieve your financial goals.
What is an estate plan?
Estate planning is all about protecting yourself and your loved ones. It's made up of a handful of very important documents, each with a different and unique purpose. Essential to estate planning is ensuring your goals are met, such as avoiding the probate court process, transferring assets to chosen beneficiaries, and minimizing taxes. Various documents are prepared to accomplish your goals, which might include a Will or a Trust.
Do I need to plan my estate if I don’t have children?
Yes! Planning for your care and estate when you are older is more complicated if you don’t have children, since children often fall into the role of backup agents and caregivers.
My family member was diagnosed with dementia. Is it too late for her to start estate planning?
Not necessarily. A dementia diagnosis doesn’t always mean you’re unable to make important decisions at a certain point in time. But as symptoms of dementia get worse, you may no longer be able to make decisions about things like your finances, health, or welfare. This is sometimes referred to as lacking mental capacity. If you are worried about this possibility or if you know someone that was diagnosed with dementia, you should immediately call your Attorney and make arrangements to discuss your options.
How much will it cost?
For our estate planning work, we offer a range of options to meet your needs, so cost will vary depending on your family dynamics, assets, and goals. We charge fixed fees, meaning that before you engage with us you’ll know exactly what it will cost. No hourly billing. No surprise charges for those extra phone calls.
How do I set up a trust?
Setting up a trust involves several steps, including selecting a trustee, drafting the trust document, and transferring assets into the trust. Working with a trust attorney in NH ensures that the trust is properly established and meets all legal requirements, protecting your assets and fulfilling your wishes.
Can I change or revoke a trust once it's established?
It depends on the type of trust. A revocable trust can be modified or revoked by the grantor at any time, while an irrevocable trust generally cannot be changed once it is established. Our trust attorney in NH can explain the differences and help you decide which type of trust is best for your needs.
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We aim to educate our clients and the community with various resources and information about Life and Legacy Planning - using estate planning tools like Wills, Trusts, Advanced Directives, IRA tax strategies, Business Planning, and more.
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