At Inkwell we think “Estate Planning” is better called “Individual Legal Planning”. It is planning that prepares you and your loved ones legally for life’s milestones. During your lifetime, your plan can provide the individuals you select the ability to access to your medical, educational and financial information, and the authority to make decisions for you if you become unable. At your death, your plan determines who will receive your property. An essential function of your legal plan is to limit court involvement in your personal affairs, and to instead, let the individuals you select make decisions relating to your well-being.
Does my spouse need to attend the Design Session with me?
Inkwell can prepare a plan for both spouses or only one spouse–it’s really up to you. Often couples want to coordinate estate plans, in which case, both of you should attend the Design Session to ensure you align on wishes and expectations.
Where do we have the Design Session?
If you prefer to meet with your attorney in person you can schedule your Design Session at an Inkwell office. If you would rather skip traffic, you can schedule a phone or video chat at your convenience.
How much time does Inkwell’s process take?
From Design Session to document execution it typically takes two weeks. For clients that need expedited planning, Inkwell can prepare a plan in about 48 hours for an extra fee.
How much does it cost?
Inkwell’s pricing starts at a base fee of $350 for student plans and $550 for a comprehensive core legal plan, and goes up from there based on the complexity of your needs. At the end of the design session, your Inkwell attorney will provide you with an estimate that corresponds to your own individual plan and can explain how the fee was determined based on the plan complexity. Your plan. Your fee. No more and no less.
What's the difference between fixed, flat and hourly fees?
Inkwell offers fixed fee pricing agreed upon in advance. This means no surprises for our clients. Inkwell’s attorneys craft a unique plan to match your needs and wishes, no matter how simple or complex. We believe documents (and therefore pricing) should fit you instead of you putting your information into cookie-cutter pre-existing plans.
Many competitors offer flat fees. These are pre-existing plan packages that are not tailored to the client’s situation. Clients are funneled into the closest plan and may be provided with features they do not need and also may not be offered options to enhance their plan.
The traditional pricing model is hourly. The final fee is estimated up front, but the actual final cost may vary wildly. In this model, every call, email or meeting is billed back to the client. This often leaves clients hesitant to ask questions for fear of incurring additional costs.
What do I need to do to prepare for the Design Session?
Once you schedule a Design Session, Inkwell will send you a short list of things to consider prior to the Design Session. These include considering who you would like to make healthcare and financial decisions on your behalf if you are unable, who you would want to care for any minor children, and a general understanding of the types of assets you own and their approximate value.
Additionally, there are certain legal documents that your Inkwell attorney will need to review in order to recommend a final plan, so it’s a good idea to start gathering the following: any existing trust; any divorce decree or settlement that includes any provisions relating to responsibilities owed to a prior spouse or children at death; and any premarital or post-marital agreement that includes obligations upon your death.
May I change my plan once it is signed?
Yes, we hope you will! As life progresses and your family and financial situation changes, your plan should be updated as well. As long as you are not impaired to an extent that you cannot manage your affairs, you may change or even revoke your plan.
I already have an estate plan, why should I schedule a Design Session with Inkwell?
The legal landscape has changed dramatically over the last 10 years both on a federal and state level. This is true yet again with the recent tax law. Inkwell attorneys can review your plan during a no-obligation design session and discuss if any changes are needed.
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