28 Dec How do I find advisors who are competent and trustworthy?

Q. As a senior citizen, I’m looking for a law firm in reasonably close proximity to my home, capable of fully addressing all the areas of expertise of wills, trusts, advanced directives and durable powers of attorney. How would I go about locating a competent, trustworthy law firm that has confidence-inspiring staff?
— Senior

A. It’s a terrific question.

Having an attorney who can handle your estate matters is important.

Finding a competent, trustworthy advisor with confidence-inspiring staff requires careful consideration and research, said Howard Milove, a wealth advisor with Access Wealth in East Hanover.

Whether you are looking for a lawyer, a financial planner, an accountant, or any other financial or legal advisor, one of the best ways to find someone trustworthy is to get a referral from a trusted friend, family member, or colleague, he said.

In lieu of a direct referral, there are steps you can take to determine if the advisor is the right fit for you, he said.

Begin with research.

He said many review sites are available to help you find lawyers, financial planners, accountants, and other trusted advisors in your area. These include Martindale-Hubbell, Lawyers.com, your local bar association and the Better Business Bureau.

Once you have identified some options, check reliable sources for complaints, Milove said.

To check on a lawyer, visit your state bar association, he said.

“Every licensed lawyer must be listed, and if they’ve had any ethical trouble, it will be reflected on their profile,” he said.

For financial planners, visit BrokerCheck and Investor.org to review employment history, certifications, and licenses and to discover any violations they may have.

For accountants, check cpaverify.org, your state Society of CPAs, and the Association of International Certified Professional Accountants (AICPA).

“When you’ve narrowed your list, visit their firm’s website to learn more about them, their approach, their philosophy, and their team,” Milove said. “You can also Google them and their firm to find articles they’ve written, cases they’ve been involved with, news stories, philanthropic involvement, and more.”

Next, you will have to go through an interview process. When you do this, remember your goal, Milove said.

“Ask questions to learn how they operate and work with their clients. Here are some of the top questions we recommend individuals ask when selecting any trusted financial or legal advisor,” he said.

· Confirm they specialize in the services you require.
· What can I expect during an initial client meeting?
· How often will you speak with me?
· If I have a question and you’re unavailable, is anyone else able to assist me?
· What’s the best way to reach you (phone, email, text)?
· What happens if I need to update my documents and plans?
· Can you help me with other aspects of my world, such as buying insurance, retirement planning, family wealth planning, etc.?
· How do you bill (hourly or a flat fee)?
· How much will everything cost?

Good luck with your search.

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This story was originally published on Dec. 28, 2022.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.