Reviewing and Amending a Will or Estate Plan
An individual meets with an estate planning attorney to review their existing will or create a new one, discussing beneficiaries, asset distribution, and potential tax implications.
Dialogue
Listen and follow along with the conversation
Vocabulary
Essential words and phrases from the dialogue
will
A legal document that specifies how a person's assets should be distributed after their death. Use it when discussing inheritance plans.
estate plan
A set of legal arrangements for managing and distributing someone's property and affairs after death. It's common in conversations about future financial security.
beneficiaries
People or organizations who receive benefits, such as money or property, from a will. Mention this when talking about who inherits assets.
asset distribution
The process of dividing and allocating property or money to heirs. Useful in legal discussions about sharing possessions.
tax implications
The effects of taxes on financial decisions, like inheritance. Ask about this when concerned about costs in legal matters.
bequest
A gift of money or property left in a will to someone. It's a formal term for specific donations in estate planning.
trust
A legal arrangement where a trustee holds property for beneficiaries. Often used to manage assets for minors or specific purposes.
contingent beneficiaries
Backup recipients who inherit if the primary beneficiaries cannot. This adds security to a will.
amendments
Changes or additions made to a legal document like a will. Use when updating existing plans.
Key Sentences
Important phrases to remember and practice
I understand you're looking to review your existing will and estate plan?
This is a polite question to confirm the client's needs. It uses 'looking to' for expressing intentions, useful in professional consultations to start discussions.
It's been several years since I had it drafted, and with some recent changes in my life, I want to make sure it still reflects my wishes.
This sentence explains reasons for updates using 'since' for time and 'make sure' for verification. It's practical for describing personal changes in formal settings.
I'm also curious about potential tax implications, as I've heard the laws can change.
Expresses interest with 'curious about' and 'potential' for possible effects. Good for inquiring about uncertainties in legal or financial talks.
We'll go through it all. We can discuss your current beneficiaries, see if any updates are needed there.
Uses 'go through' for reviewing items and 'see if' for checking conditions. This pattern helps outline steps in a consultation.
My youngest daughter just turned 18, so I want to ensure she's properly included in everything without the need for a trust now.
Connects events with 'so' for cause-effect, and 'ensure' for guaranteeing. Useful when explaining family-based changes in plans.
Those are clear changes we can certainly incorporate.
Affirms agreement with 'certainly' for emphasis. Practical for confirming actions in professional advice scenarios.
Once we've outlined all the revisions, I'll draft the amendments, and we can schedule another meeting to review and execute them.
Outlines future steps with 'once' for sequence and 'schedule' for planning. Helps in describing processes in legal or business contexts.
That sounds perfect, Sarah. Thank you for your thoroughness.
Shows appreciation with 'sounds perfect' and 'thoroughness' meaning careful attention. Use to end positive interactions politely.