Planning for the future brings a sense of relief, knowing your wishes will be carried out. The time it takes to create an estate plan depends on several factors, including the complexity of your assets and how quickly decisions are made. Some steps require careful thought, while others move swiftly with the right support. While no two plans are exactly alike, most can be completed within a few weeks. At OC Wills & Trust Attorneys, we guide you through each stage, making the process as smooth and straightforward as possible.
Step 1: Initial Consultation (30-45 Minutes)
The first step in creating an estate plan is meeting with us to discuss your needs and goals. This conversation helps us understand your situation and determine the right documents to protect your assets and loved ones. The meeting usually lasts 30 to 45 minutes and can take place in person or virtually.
During this consultation, we will:
- Review your family structure and any specific concerns you have.
- Discuss your assets, including real estate, financial accounts, and business interests.
- Identify key individuals, such as beneficiaries, guardians, and trustees.
- Explain the estate planning tools that may be right for you, including wills, trusts, powers of attorney, and advance healthcare directives.
If you already have an estate plan, we will review your documents to see if updates are needed. Once the consultation is complete, you’ll have a clear understanding of the next steps and what information to gather.
Step 2: Gathering Information (1-2 Weeks)
Once we outline your estate plan, the next step is gathering the necessary information. This includes details about your assets, debts, and any specific instructions you want to include. If your financial records are well-organized, this step may take only a few days. If updates or additional documents are needed, it could take a bit longer. We will provide guidance on what to collect, ensuring nothing is overlooked. Once everything is ready, we can move forward with drafting your estate planning documents.
Step 3: Drafting the Documents (1-3 Weeks)
Once we have the necessary information, we begin drafting your estate planning documents. Depending on the complexity of your plan, this step typically takes one to three weeks. Simple wills and powers of attorney can be prepared quickly, while trusts or more detailed arrangements may require additional time.
We will draft key documents such as:
- Last Will and Testament – Outlines how your assets will be distributed and names guardians for minor children.
- Trusts – Helps manage and distribute assets efficiently, avoiding probate when necessary.
- Powers of Attorney – Grants authority to a trusted person to handle financial or legal matters if you’re unable to do so.
- Advance Healthcare Directives – Specifies medical preferences and appoints a healthcare decision-maker.
Once the drafts are complete, we will send them for your review and make any necessary adjustments.
Step 4: Reviewing and Finalizing (1-2 Weeks)
After the initial drafts are completed, you will have time to review each document carefully. This step typically takes one to two weeks, depending on how quickly revisions are requested. We encourage you to read through everything and ensure that names, instructions, and asset distributions reflect your wishes. If any changes are needed, we will make adjustments and provide updated drafts for your approval. Once you are satisfied with the documents, we will prepare them for signing, ensuring they are legally sound and ready for execution.
Step 5: Signing and Notarizing (30-60 Minutes)
Once your estate planning documents are finalized, the next step is signing them in the presence of witnesses and a notary. This process typically takes 30 to 60 minutes and ensures that your will, trust, and other legal forms are properly executed. We will guide you through each signature to ensure compliance with state laws. After signing, your estate plan becomes legally binding, giving you confidence that your wishes are formally documented and enforceable.
Step 6: Implementing and Storing Your Estate Plan (Varies)
After signing, it’s important to store your documents safely and ensure the right people know where to find them. If you created a trust, you may need to transfer assets into it. We will guide you through this process and help keep your estate plan properly maintained over time.
Start Your Estate Plan with OC Wills & Trust Attorneys
Creating an estate plan doesn’t have to be overwhelming or time-consuming. With the right guidance, most plans are completed in a few weeks. At OC Wills & Trust Attorneys, we make the process clear and efficient. Contact us today to schedule a consultation and take the next step in protecting your future.
