Do you intend to create an estate plan? Perhaps you’re wondering what it entails. Estate planning involves drafting a will, creating a trust, designating beneficiaries, and entitling guardianship. If you aren’t conversant with these legal terms, then it’s better to hire an attorney here https://easlerlaw.com. Here are important aspects to check out when hiring an estate planning lawyer:
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Specialization
Estate planning attorneys are highly specialized in managing estate planning issues. Regardless of their specialty, they still undertake the bar exam before they start practicing. Their main goal is to help clients prepare for their end-of-life.
They can assist you in writing a testament. Moreover, they can help you to set up a trust and minimize any estate taxes. Once you’re gone, they’ll work with the executor of your will to ensure that your assets are successfully transferred to your beneficiaries. In case probate becomes necessary, your estate planning attorney will chip in as well.
A reputable estate planning lawyer will guide you when drafting a living will, creating advanced directives, and assigning power of attorney. They’ll help you navigate the complex legal process and adequately prepare for your end-of-life. Plus, they’ll ensure that your loved ones are well cared for once you’re gone.
Legal Fees
Most law firms are expensive. They charge a lot of money for their legal services. But the truth is that estate planning is a highly specialized field. You can’t possibly replicate what estate planning attorneys do without undergoing rigorous training, which can last for several years. Thus, even if the total cost looks pricey, you can rest assured that your property and family are in safe hands.
If you decide to hire an estate planning attorney, then be ready to pay initial consultation fees, hourly charges, as well as fixed fees. Different lawyers will charge different fee rates. So, be sure to choose an affordable attorney who offers reliable services. Take time to review your needs and compare the rates offered by different attorneys. Make sure that you settle for the most competitive rate. Don’t just hire any attorney you come across. Look for a reputable attorney who charges affordable fees. You don’t want to work with someone who’s going to break your bank.
Certifications
Whereas estate planning lawyers don’t require separate certification documents to practice, some opt to obtain further credentials. And this is particularly common among professionals who aren’t attorneys. These include accountants, as well as, financial advisors.
Being aware of your attorney’s designations will make it easier for you to determine what they’re knowledgeable about. It’ll give you a true picture of who you’re working with.
Here are some of the certifications you should check out for:
- Accredited Estate Planner – Licensed attorneys and financial advisors are usually awarded this designation after obtaining at least 5 years of experience in estate planning.
- Chartered Trust Planner – This designation is often granted to lawyers by a top Financial Management academy in the United States of America. Other requirements include successful completion of a five-year course, as well as, annual continuing education.
- Certified Trust and Financial Consultant – Individuals who have extensive experience in wealth management are usually awarded this designation by the American Bankers Association.
How To Effectively Plan Your Will
Are you looking for a way to maximize your legacy? Well, it’s time you consider drafting a comprehensive financial plan. With the help of an estate attorney, as well as, a financial advisor, you can effectively plan your estate.
Through a living will, you can effectively communicate your wishes to your family. It’s unpleasant to talk about, but there’ll come a time when you can’t make decisions for yourself.
As your age advances, it’s imperative to devise a secure estate plan. This will help you to relax knowing that your assets and loved ones will be safe when you’re gone. Estate planning typically involves drawing up a lot of legal paperwork. If you have a busy schedule, then you can’t possibly handle this by yourself.
That’s why you need to hire an experienced attorney. Estate planning lawyers specialize in drafting wills and trusts. They’re also experts in handling tax-related issues. If you think that someone is going to contest your will, then it’s better to hire a qualified legal representative. And if your estate is large, consider hiring a financial advisor. He or she will assist in managing your assets and other finances.
Choose The Right Legal Expert
The best way to find an estate planning lawyer is to ask for referrals. Consult your friends and relatives for recommendations. If they’ve any personal experiences with estate planning attorneys, then that would be a great place to start. You may also want to consider getting referrals from your local probate court or state bar association.
Make sure that the attorney has the right qualifications and certifications. They should also demonstrate a high level of state-specific expertise. Remember, probate laws differ from one state to another. So, be sure to work with a lawyer who has passed the bar exam in your state.
It’s also important to look for an attorney who’s honest, reliable, and hospitable. Bear in mind that this individual will be helping you make emotional decisions. As such, you need to make sure that he or she puts you at ease. You’ll need to disclose sensitive information, including your end-of-life wishes. This process will be simpler if you feel confident and comfortable with your attorney.
The Bottom-Line
Estate planning is quite a complex endeavor. It involves making countless decisions right from the beginning to the end. Your attorney can assist you to devise a comprehensive plan that works perfectly for your unique situation. Working with an experienced attorney will make it easier for you to navigate the estate planning process. Plus, it’ll give you peace of mind knowing that your estate plan is airtight.
Even more, you can rest assured that your loved ones will have peace of mind. Use the above tips to find the best lawyer for your needs.
