how to hire an estate lawyer

Tips for Hiring Your Estate Attorney

• Feel free to interview a few attorneys for the job. Personality matters. ...
• Ask about the fees. How will the estate attorney be compensated? ...
• Ask about the process. Will you work with the person you are talking to or a team of people? ...

Full Answer

How to hire an estate attorney as an executor?

Jun 12, 2018 · Tips for Hiring Your Estate Attorney Feel free to interview a few attorneys for the job. Personality matters. As an executor, you’ll be working closely with …

What should I consider when hiring an estate attorney?

Jan 21, 2022 · How to find an estate planning attorney 1. Create a list of potential attorneys Here are some places to find an estate planning attorney: Referrals from friends... 2. Talk to every estate attorney on your list It sounds tedious but it's important to …

How do I find a good estate planning attorney?

May 06, 2021 · Building a sound estate plan involves a good deal of paperwork and strategy. To navigate the complex world of state and federal laws and taxes, you’ll likely want to enlist the help of an estate planning attorney. The right estate planning lawyer can set your beneficiaries up for success when the unfortunate but inevitable time comes.

Should I hire a lawyer or an estate planner?

If you’re looking to hire an estate planning attorney, ask questions to learn as much as possible about pricing up front. Some attorneys will try to avoid giving you a clear price. This is a red flag. Do I Need an Estate Planning Attorney?

How to hire an estate attorney?

Once you figure out the type of attorney you need, you then need to go about hiring an estate attorney. Here are a few tips to hire an estate attorney: 1 You don’t have to hire the first estate attorney you talk to. Personality matters. As an executor, you will have to work with the estate attorney, so make sure the estate attorney you hire is someone you trust and respect. 2 Ask about the fees. How will the estate attorney be compensated for her work? Will she charge you by the hour or is there a flat fee based on the will and size of the estate? 3 Ask about the process. Will you work with the person you are talking to or a team of people? If it will be a team, make sure you meet those people as well. Paralegals can play a significant role in this process – so meet them if they will be involved.

Why is it important to have an estate attorney?

Because wills and estates vary in complexity, and assets within the estate can add another layer that must be understood and managed properly, it’s always a good idea to have an estate attorney at your side to help manage your executor duties.

What is an estate lawyer?

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.

Who is Derek from Policygenius?

Derek is a personal finance editor at Policygenius in New York City, and an expert in taxes. He has been writing about estate planning, investing, and other personal finance topics since 2017. He especially loves using data to tell a story. His work has been covered by Yahoo Finance, MSN, Business Insider, and CNBC.

What is the importance of estate planning as you age?

As you age, the importance of estate planning becomes clearer and clearer. What will you leave behind to loved ones, and how will you divide your assets in a way that ensures your legacy will be carried on the way you want?

Is Mercer Advisors a law firm?

[1] Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning documentation preparation and other legal advice is provided through Advanced Services Law Group, Inc.

What questions should I ask when planning an estate?

Core Estate Planning Questions – About You and Your Wishes: 1 Family and Loved Ones. What is your family situation? Who are your closest family members and other loved ones? Do you have any minor children? Do any of your children have special needs? 2 Personal Estate. What do you own? What is your financial situation, and what kinds of financial assets do you have (e.g., checking accounts, stock brokerage accounts, IRAs, life insurance)? Do you own any real estate? 3 Do you have a high net worth (over $10 million), such that the estate tax may be a concern? 4 Beneficiaries. To whom would you like to leave all of your property? 5 Health Care. What kind of treatment would you want if you were incapacitated (unable to make decisions for yourself)? 6 Agents. If you are incapacitated, who would you want to make health care and financial decisions on your behalf? Once you pass away, who should be your personal representative — the person in charge of settling your estate?

How long does it take to get an estate plan?

Time: 2 to 4 weeks. Once the attorney has your information, your estate planning documents will be prepared. Basically, these are what you’re paying for. In many law firms, your documents will not actually be prepared by the attorney; they will be prepared by an assistant based on a template that the law firm uses.

What is a living will?

Usually referred to simply as a “will”. Living Will Describes your preferences for care in a medical emergency and names someone to carry out your health care wishes. This document is sometimes called an advance directive, health care directive, or medical power of attorney.

What should I do if my child has special needs?

If you have a child who has special needs, you should work with an estate planning attorney who can help you create a plan that ensures the child is cared for according to your wishes when you’re gone. High net worth.

Do it yourself estate planning?

A good do-it-yourself tool will deliver the same results as an estate planning attorney — legal documents tailored to your situation. (Recall that most law firms simply reuse the same template and make a few changes to it — software can do this better, and doesn’t make mistakes because it’s too busy, tired, or bored.)

What is a good real estate attorney?

He/she is the only member of the real estate transaction that is legally obligated to protect your interests. Everybody else is more concerned with making a buck and covering their own butt.

Where does closing take place?

The closing can take place at the buyer’s agent’s office, the title company’s office, or at any other convenient location the notary wants to meet you. Note that some states may require the closing to take place at the attorney’s office. You can find out about this limitation when you interview your Real Estate Attorney.

What is an estate planning attorney?

An estate planning attorney is a lawyer who specializes in handling estate planning matters. In terms of certifications, these lawyers are no different from ones who specialize in mergers and acquisitions or personal injury suits. Regardless of specialty, they still have to pass the bar exam for the state in which they practice.

What is the best way to plan an estate?

An estate planning attorney can help you determine a plan that makes the most sense for your unique situation. With the help of a qualified professional, you can go into the estate planning process with confidence. This will leave you knowing that your plan is airtight, which will only bring you ease.

Why is it important to have an estate plan?

As you grow older, it’s important to have a secure estate plan in place so you know your assets and family will be taken care of when you’re gone. This involves drawing up plenty of legal paperwork, which is when hiring an estate planning attorney can be especially beneficial.

What is an AEP certification?

Here are a few examples of certifications you might see: Accredited Estate Planner (AEP): The National Association of Estate Planners and Councils awards the accredited estate planner designation to licensed attorneys, CPAs, chartered life underwriters and certain other financial advisors.

What is a CTFA?

Certified Trust and Financial Advisor (CTFA): The American Bankers Association, along with the Institute of Certified Bankers, awards the certified trust and financial advisor (CTFA) designation to individuals who meet certain criteria.

Do estate planning attorneys need certifications?

While an estate planning attorney doesn’t need separate certifications to practice, some choose to attain further credentials. Some of these are available to professionals who aren’t lawyers, such as financial advisors or accountants.

What is legal quality?

Quality of Legal Work 1 Quality means different things to different people, but I describe it as attention to details. There may be details which may not appear to affect the legal outcome or they may be details that the client does not value. Ultimately, the client is spending money on the lawyer’s time to produce those details and the clients goals should match those of his lawyer. 2 Having an attorney or law firm at the cutting edge of statutory or untested case law can also be important for high dollar situations. Understand whether you need to pay for this skill or experience.

What is quality in legal terms?

There may be details which may not appear to affect the legal outcome or they may be details that the client does not value. Ultimately, the client is spending money on the lawyer’s time to produce those details and the clients goals should match those of his lawyer.

Is it easy to hire a lawyer?

Hiring a lawyer is never an easy process, but with the right understanding of your own goals, asking the right questions of the attorney, you can minimize your risk of disappointment in your legal team. The right lawyer will maximize your commercial real estate investment and avoid catastrophic disputes which consume profit.

How to narrow your list of potential attorneys?

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.

What is estate planning?

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 ...

What is the state bar association?

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.

Who is Jennifer Mueller?

Jennifer Mueller is an in-house legal expert at wikiHow. Jennifer reviews, fact-checks, and evaluates wikiHow's legal content to ensure thoroughness and accuracy. She received her JD from Indiana University Maurer School of Law in 2006. This article has been viewed 35,595 times.

What happens if you don't have liability insurance?

Without liability insurance, you and your heirs could lose everything.

How does a trust help you?

A trust can help save on estate taxes, avoid probate (proving in court that a will is valid), save on time and court fees and put conditions on the disposition of your assets after you die. “Often, having a will and trust drafted can cost several thousand dollars,” says Joseph.

Is estate planning a part of financial planning?

Estate planning is a critical part of financial planning, but something many Americans procrastinate about. Yet drafting a will and a health care proxy or power of attorney, maybe creating a trust, and maximizing your loved ones’ inheritances by minimizing taxes are all important matters you don’t want to leave to chance.