Full Answer
With these tips, you can find an attorney who has your best interests in mind. Start your search with this helpful guide today. 1. Ask Your Inner Circle. There are over 169,941 estate lawyers and attorneys in the US. Here in Michigan, there are over 35,000! By using this guide, you can find the best estate planning attorney in your area with ease.
Because of the variances, an estate lawyer may cost anywhere from $200 to $2,000. This amount may also depend on whether or not the cost includes a filing fee, which is set by the local court. Due to these factors, estate lawyer costs are unique to each individual and their situation.
The attorney agrees to create a will, living will, and revocable living trust for $1,000. Unless something changes and you decide you want the attorney to do some additional work, you’ll only have to pay $1,000 for the attorney’s services.
1. Decide whether you need an attorney. If you own very little real estate or personal property, you may be able to use a document kit and plan your estate on your own. However, if you own real estate, have retirement or investment accounts, or own your own business, you should seek professional legal assistance.
1. Have a preliminary phone consultation. Many attorneys will hold a brief interview with you over the phone. Since these take up less time and require less effort than in-person consultations, you can talk to more attorneys this way and use the phone interviews to narrow your list of possible contenders.
Many factors will affect the cost of your estate plans, including the experience of the attorney, the type and amount of assets you have, and the complexity of any tax planning. Each attorney should be able to explain clearly how costs are assessed and how rates are computed.
Planning your estate involves deciding what will happen to your personal property and real estate after you die. The law provides a default scheme for disposing of property, but relying on that involves a lengthy court process and potentially hefty tax consequences for your heirs. The alternative is to plan things out ahead ...
State bar associations often offer a lawyer referral service that enables you to meet briefly with a pre-screened attorney after answering a few general questions about your needs.
How long has the attorney been practicing in the areas of Probate, Trusts, & Estate Planning Law? Is [s]he experienced enough to have firsthand knowledge of family and business matters of concern to you? There is no law that prevents an attorney from calling himself an estate planner, even if he has no qualifications or experience in estate planning.
What percentage of the attorney's practice is devoted to Probate, Trusts, & Estate Planning Law? An attorney simply cannot handle divorces, traffic tickets, and other matters and be an estate planning expert, too. Estate planning is a complicated and sophisticated area of legal practice.
Is the attorney certified as a specialist in Probate, Trusts, & Estate Planning Law by the California State Bar Board of Legal Specialization? Although there are many knowledgeable attorneys who have not been certified as specialists, passing the certification exam provides some measure of assurance that the attorney is competent to practice in this field..
Does the attorney offer free (or low-cost) initial consultations? Make sure you know the answer to this question so you won't be surprised at your first meeting.
How does the attorney decide what to charge? If an attorney or firm charges by the hour, there is a built-in incentive for more office consultations and multiple drafts of documents.
What services are included in the fee? The more office consultations and legal services that are included, the higher the fee will be.
How much should you pay for your estate plan? You need to be careful about the too-good-to-be-true bargains. This decision is too important to look for the cheapest plan you can get. Your estate plan may have a profound effect on your loved ones' lives and well-being.
Estate Planning attorneys are licensed legal professionals who have a clear and thorough understanding of federal and individual state laws surrounding everything having to do with an estate.
Now that you understand what, exactly, an Estate Planning attorney is, you may be wondering how to find an Estate Planning attorney who’s right for you, your situation and your estate. You can find the perfect attorney for all your needs by following five simple steps.
Creating your estate plan is one of the most important things you’ll do in life. Finding the right Estate Planning attorney can help you do it. Your estate plan protects you. It helps ensure that your loved ones will have the comfort of knowing you cared enough to prepare for their future.
Generally, there are four steps a person takes to create a “shortlist” of potential attorneys.
The next step is to meet with lawyers on the shortlist to determine which one is the best fit for the client’s particular situation.
Once you can get the potential client in the office door, it is up to the attorney to close the deal. However, the law firm cannot forget that with each initial interview, there may be dozens of new leads that day for the law firm to process.
An estate lawyer is trained in matters related to passing on your assets after you die, and planning for situations where you can no longer care for yourself. They are experts in wills, trusts, and your local probate process. Some estate lawyers may also have specialties, like planning the succession of a business.
To leave assets to a stepchild, stepparent, or half-sibling, consider working with an estate lawyer. Most people could benefit from working with an estate planning attorney, but it may not be necessary (and you may not want to pay for it) in many situations. On the other hand, people in certain situations may need the help ...
This only happens if you aren’t survived by a spouse or child, but a solid estate plan will protect your assets and allow you to pass on as much of your estate as possible. If this is your situation, you may want to look for an estate lawyer who specializes in elder law. You want to set up an irrevocable trust .
You have out-of-state property or assets . Passing on assets can get tricky if they’re crossing state boundaries, since two states may have different tax codes or other legal requirements for how to transfer an asset.
You have foreign property or assets . You’re planning to bequeath assets to someone who isn’t a citizen . You could also run into issues if you plan to name an executor who isn't a legal U.S. resident. Certain tasks, like getting a tax ID to open an estate account, may not be possible for nonresidents.