Estate Planning Interview Questions

Summary

When conducting an estate interview after a death with a will, consider asking about the wills registration, executor, funeral instructions, debts, specific bequests, and any minor beneficiaries. Determine if probate is needed and anticipate any disputes. Ethically, maintain confidentiality, avoid conflicts of interest, and ensure fairness. If a firm partner is a beneficiary, disclose the conflict, have them recuse themselves, and suggest independent legal advice for beneficiaries.

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what things should i be aware of from an ethical point of view
From an ethical point of view, you should be aware of the following:
- Confidentiality: Ensure all information about the deceased and the estate is kept confidential.
- Conflict of Interest: Avoid any situation where you have a personal interest that could conflict with your duties.
- Executor Duties: The executor must act in the best interests of the estate and beneficiaries.
- Fairness: Treat all beneficiaries equally and fairly.
Do you need more information about any of these points?
what if one of the beneficiaries in the will is a partner at the firm
If one of the beneficiaries in the will is a partner at the firm, it can create a conflict of interest. Here are some key points to consider:
- The partner should not be involved in administering the estate.
- The firm should disclose the conflict of interest to all parties involved.
- Independent legal advice may be necessary for the beneficiaries.
Would you like more detailed information on handling conflicts of interest in this situation?
yes
If a partner at the firm is a beneficiary, it's crucial to address the conflict of interest appropriately. Here are some steps:
- Disclosure: Inform all parties about the conflict of interest.
- Recusal: The partner should recuse themselves from all estate administration duties.
- Independent Advice: Encourage beneficiaries to seek independent legal advice to ensure fairness.
Would you like more information on independent legal advice options?