Deciding whether you need a lawyer to represent your case is certainly a complicated task. The decision doesn’t simply lie on advertising, the Internet, or word-of-mouth referrals from your friends or family. Looking for a professional lawyer to resolve a legal matter or obtain legal advice requires a huge time investment, especially if it involves your future and important assets.
As time goes by, it is important to secure an estate plan to identify your assets and guarantee the future of your family once you’re gone. This includes filing plenty of legal documents and hiring the expertise of an estate planning attorney. These lawyers have the skills and knowledge in different aspects of estate planning, such as trusts, taxes, wills, and power of attorney.
Estate planning is a complex process that will leave you confused and stressed. It is never easy to handle plenty of legal files for estate planning that include a trust or will and delegating power of attorney.
To save time, money, and effort, you need a trusted legal consultant to handle everything correctly for your estate planning. With this in mind, here are some things you must know before hiring an estate planning lawyer.
The basic services of an estate planning lawyer
An estate planning lawyer specializes in handling matters concerning estate planning. They may not have any letters or certifications that distinguish them from other lawyers, but they often refer to themselves as estate planning professionals. There are a few certifications, which accountants or financial advisors can acquire if they want to specialize in estate law. These include accredited estate planner, chartered trust and estate planner, and certified trust and financial advisor.
The difference among estate planning lawyers lies in their specialization obtained through experience and previous cases that tackle various issues in estate planning. They have a wide range of duties, but they focus on helping clients prepare their financial legacy if they passed on. Although hiring an estate planning attorney may not be necessary for most situations, others turn to them to ask for legal advice and ensure comprehensive estate plans.
The function of an estate attorney may vary depending on the client’s demands, such as setting up their trust, drafting their last will, and reducing inheritance and estate taxes. If a property owner passes away, they can also assist the executor in transferring assets to the rightful beneficiaries.
The cost of hiring an estate planning lawyer
There is a good reason law firms are known for their expensive rates. Legal services for estate planning are heavily specialized, which you can’t simply acquire without years of experience and education.
An estate planning attorney will often discuss their fees at the first meeting. The cost may vary depending on different combinations, such as payment for the initial meeting, fixed fees, and hourly fees. You’ll often pay more if the lawyer spends more time managing your case.
Rates may vary depending on the state and attorney. Law firms often charge a starting fee during the first meeting with the lawyer. The meeting often involves discussing the estate plan and whether you’re a great fit as their client. During the initial meeting, ask for a quote to compare fees and find the one that works within your budget.
Finding an estate planning lawyer
If this is your first time tackling estate matters with a lawyer, it is best to spend more time choosing the best legal consultant that works for your situation. There are plenty of options for an estate planning attorney, such as referrals, attorney directories, online lawyer reviews, Internet ads, and telephone directories.
A single referral or review should not easily sway you when picking a lawyer. Finding a lawyer plays a huge role in your assets, so you need one who is qualified to handle your legal needs. Learn more about their specialization, previous cases they handled, certifications, fees charged, office location, and the period a particular case will take.
Another important factor to note is to hire a lawyer that is easy to work with. A skilled estate planning lawyer knows the best way to secure yourself, your family, and your assets. They should be someone who you can trust since you will disclose plenty of personal information and private data. The entire process will be much easier if the lawyer will respect your final decisions and life choices but sensible enough to provide clear and logical recommendations.
Estate planning is a complicated endeavor that involves critical decisions. Hiring an estate planning lawyer will make the process easier by providing a plan for your situation. Through their expertise, you can ensure that your assets are in good hands.