My father is getting up there in the years and feels that his time with us is drawing to a close. Being a man who likes to always be prepared, he has started planning the contents of his will and how he would like his estate to be divided.Right through my life, my father and I have always shared a special bond, which is why he tasked me with finding the best Murrieta California Attorney to handle the proceedings.
Of course, that was easier said than done. My knowledge of the law was basic so after speaking with many potential candidates, I often left the room confused and a bit dazed. Sure, I could have just randomly pick whoever talked a good game, but then that wouldn’t be fair to my father. He has always gone above on beyond to provide the very best to use and I felt that he deserved the same.
After confirming my resolve, I went online to learn more about estate planning attorneys and various tips on how to choose the best one for your situation. The internet is a vast place, so finding information wasn’t hard, but when every site I came across said the same set of things, I still felt a bit lost. Until I read “Preserve Your Heritage for You and Your Heirs”, an article I found on the Huffington post’s website.
After reading the article, I unexpectedly felt myself being drawn in as I learned the most important financial lessons of my life. I truly felt akin toward I would be able to fulfill my father’s request. That is why I am writing this story to tell you exactly this post changed everything. But I am sure you are asking yourself, “What did he learn?” Well, let me tell you.
While reading the post, the first thing it explained to me was “How to build the right team”. When I first read that I thought this meant that I would have to get more than one estate planning attorney. Luckily, I was wrong. What it really meant was that it wasn’t just enough to speak with attorneys. I needed to speak with my father’s insurance agent, his fidelity representative at the bank and various other financially related representatives he had.
Surprisingly, as it so turns out, I knew all these people. When I was younger, my father often took me with him when he had business to conduct and he would always introduce me and have me sit in on their meetings. I always found those things to be very boring and my father knew that, but as usual, he was planning ahead by getting me acquainted with his important people. This made speaking to them on my own because I had no need to be nervous.
The article also explained how to go about negotiating estate planning fees with an attorney. For this, I decided that I would better if both dad and I handled this one. Even though I had not picked one as yet, there were a few I liked and I arranged a meeting with them. After each meeting, I would be left in shock from listening to how my father negotiate the estate bill. He knew closely what he wanted and how he wanted to be done and I had not realized that. I was thinking solely about how everything was on my shoulders when it wasn’t. I wasn’t my estate it was my dad’s so it should be him deciding how things go and not me.
When it came to actually choosing an attorney, we used their legal fees to help us decide. The article enlightened me to the fact that when it comes to deciding this, you would want to go with the lawyer who accepts your demands and doesn’t overcharge. According to the article from Huffington Post, a lawyer typically charges between 3% to 5% of the total-value of the-estate. My father wanted someone who would charge 4% and accept his demands. Luckily there was only one Murrieta, California Attorney willing to do that. I had completed my father’s task.
It was after that that my father decided to show me the Binder. This was his book that contained everything pertaining to his funeral. Told you, my dad’s a plotter. He have already pre-paid all the funeral expenses and still left some extra funds in a special funeral account at the bank. He sought after me to go over everything with him so that in the event he missed something, I could take care of it. He had made copies of every bill, credit card receipt, bank statement, and cheque book for tax purposes. He even had specific details of how thing should proceed if it rained or the day was too windy. I’m beginning to think my dad be a control freak because this thing was really in-depth.
The last thing I needed to take care was ensuring that all my father’s affairs were settled. My father always had a will but he never could pick and executor. Learning this I readily volunteered to do it. My father smiled and sighed a sigh of relief because he felt safe now. He offered me a commission of 3% and even though I declined, he forced to me to take it. When we go to Fidelity to opening up his IRA, he have stipulated that I collect 1% more than my brothers on behalf of my job as doer. He remunerated me anyway! He knew the job shouldered a lot of responsibility and character and so it should move toward with a few extra compensation. He even set things up to ensure the preservation of my relationship by way of my brothers.
So I hope you enjoyed my story about how a simple article call “Preserve Your Heritage for You and Your Heirs” enlightened me and gave me the courage and resources to do what need to be done. I always felt that estate planning was a messy process, but as it turns out, I was just inexperienced in the matter. The process though a bit tedious was simple and it brought me closer to my father, helping me realize just how much he did for us until the very end. Thank you, Huffington Post.