what to look for in estate lawyer

Make sure to look for the below qualities to find the right attorney for your needs:

• Estate Planning Expertise: For efficient services, you need an attorney who devotes their entire practice to the area of...
• Comfortable: You need to feel comfortable with your attorney. Only then can you share your intimate life details and...
• Proficient: Your lawyer has to be well-ver...

Full Answer

What should I look for when hiring an estate planning attorney?

Above all, make sure you hire an attorney who demonstrates a high-touch level of service, and with whom you feel comfortable discussing personal matters. The following questions will help you to learn about estate planning and to determine if a prospective estate-planning attorney is right for you.

What should I look for when hiring a lawyer?

Check the bar records of attorneys you're interested in interviewing. Before you schedule any interviews, go back to the bar association's website and look up each attorney's name. You want to make sure all attorneys you interview are licensed and in good standing.

Do I need a lawyer to plan my estate?

The alternative is to plan things out ahead of time through documents such as wills and trusts. Because this area of law is impacted by so many variables and factors you may fail to consider, hiring an attorney to help you is a good idea, even if you have a relatively simple estate.

How do I choose a lawyer after a client dies?

Obviously, you should strive to find the most experienced attorney possible—one who has seen prepared documents take effect after a client's death. Such attorneys will have faced challenges from courts or the Internal Revenue Service (IRS) and will know how to overcome any hurdles.

What are the five most important estate planning documents?

5 Essential Estate Planning DocumentsLast Will and Testament. This legal document is the foundation for a successful estate plan. ... Living Trust. ... Durable Power of Attorney (POA) ... Healthcare Power of Attorney (POA) ... Living Will.

What better trust or will?

A will does not go into effect until after you die, whereas a living trust is active once it is created and funded. This means that a trust can provide protection and direct your assets if you become mentally incapacitated, something a will is unable to do.

What questions do you ask a living trust?

10 Questions to Ask an Attorney About Living TrustsWhat Property Can Go in a Living Trust? ... Who Should Be My Trustee? ... Does a Living Trust Avoid Estate and Probate Taxes? ... What Are the Benefits of a Living Trust? ... What Are the Drawbacks of a Living Trust? ... Do I Still Need a Power of Attorney?More items...

Do you have to pay taxes on inheritance?

If you invest your inheritance money and earn income (such as interest or dividends) on that investment, however, you'll be taxed on the income earned. The same rules apply if you sell a capital asset and it increases in value from the time you inherited it. Both these points are worth keeping in mind come tax time.

Should bank accounts be included in a living trust?

Bank Accounts and Living Trusts Bank accounts and other Pay-On-Death (POD) accounts can avoid probate by allowing you to designate Beneficiaries who will inherit the account directly after you die. This can be a huge advantage if your loved ones need funds immediately after your death.

How does a beneficiary get money from a trust?

How can a beneficiary claim money from a bare/absolute trust? If a beneficiary of a bare trust is over the age of 18 years then they can simply ask the trustees to pay the money out to them that they are entitled to. As long as there is no other criteria to satisfy, the trustees should not refuse.

Can a beneficiary live in a trust property?

If the Trust property is something more tangible then the Beneficiary is entitled to use it (eg if the Trust property was a house, the Beneficiary could live there rent free). Often the benefit of the Trust property will pass to different Beneficiaries when the first Beneficiary dies.

What is the difference between a revocable and irrevocable trust?

A revocable trust can be changed at any time by the grantor during their lifetime, as long as they are competent. An irrevocable trust usually can't be changed without a court order or the approval of all the trust's beneficiaries. This makes an irrevocable trust less flexible.

Estate Planning Lawyer Qualities

General attorneys may not possess the expertise and experience to handle your unique financial and personal situations. For estate planning, you need efficient estate planning lawyers such as Morgan Law Group estate attorneys.

Finding An Estate Planning Attorney

You may feel overwhelmed to search for the right attorney. However, it is easier to find an estate planning lawyer. Begin your search by asking someone you trust and have some knowledge in the area. Your financial adviser may be able to provide a list of some reputed estate planning lawyers.

How Much Does An Estate Plan Cost?

Your estate planning can cost a significant amount. The various expenses include your plan creation, maintenance, and updating. You should also pay for the attorney who holds the knowledge and expertise of these estate laws.

Reasons you need an estate planning lawyer

People hire estate planning lawyers for a variety of reasons. Some of these include decreasing the size of their estate tax, avoiding probate, making a living trust, understanding the difference between a trust and a will, establishing a power of attorney, and making sure their heirs will be taken care of.

Do your research

The first step in selecting the right estate planning lawyer is to compile a list of attorneys in your area. You can make this list by doing a google search for estate planning lawyers and you can ask friends and family for referrals for lawyers they have used previously.

Questions to ask an estate planning attorney

After you complete your research, you should have a list of 2-3 lawyers that you really like. The next step is to interview them. This is usually done by calling their office. Don’t be alarmed if a paralegal or assistant takes your information and has a lawyer call you back. This just means the lawyer is working on a case – and that is a good sign.

Finding a good fit

Once you have interviewed 2-3 attorneys, it is time to make a choice. There may be a clear lawyer that meets your needs and that you got a great feeling about. However, it may also be the case that you like all of them and don’t know how to choose.

Free Consultation with Estate Planning Attorney

If you have additional questions on how an estate planning lawyer can help you protest your estate, call us today for a free consultation with our experienced 5-star rated estate planning attorneys in Las Vegas!

Knowing what you want from your Estate Lawyer

As with every other major part of "life planning", not all advisors are created equal nor serve the same purpose, so you should know what it is you want from your estate lawyer before you start the search to be matched with the right one.

Why do you need an Estate Lawyer?

These are lawyers that are specifically trained in the type of law that governs how your legacy will be handled after your death. They can also be instructed should you be entering into an unfortunate period of illness or deteriorating mental health and need a solid plan for your family or friends.

When will you need one?

In truth, you probably will only be thinking about instructing a lawyer of this nature later on in life, but as soon as you start accumulating any resources or when you start a family is a good time to find one.

So what does an Estate Lawyer do?

These lawyers are also known as "probate" lawyers and are specially trained in dealing with the drafting of living trusts, offer advice on estate taxes and also ensure that your assets can't be attached by your beneficiaries' creditors posthumously or nefariously.

What about living trusts?

Also knows as "revocable living trusts", these are specific instructions that govern the use of your assets either while you're still alive, should you become ill, or mentally unstable, or in the unfortunate event of your passing. These instructions are "revocable" pending your recovery from illness but become irrevocable upon your death.

Money Matters (yours and your lawyers)

Your lawyer should always be 100% upfront and transparent about what you're going to be paying them, over which period, and if there is a demand on your estate for any legal fees when you're no longer here.

Does your lawyer handle medical matters?

Have you ever given thought to what you want to happen to you if you're unable to make medical decisions that relate to things like organ donation, whether your not you want to be kept on life support or for what period and who is allowed to make those decisions in your stead?

What to look for in an estate planning attorney?

Another thing to look for in an estate planning attorney is their service approach. Some attorneys work with a client just one time to create an estate plan . Others create an ongoing relationship to perform yearly reviews and update their clients’ plans based on changes to federal laws, state laws, and court cases that may set legal precedent in the interpretation of those laws. Working with an attorney in an ongoing relationship has an added benefit,… they will already have an understanding of your estate planning needs.

What do attorneys specialize in?

estate planning, personal injury, business law, criminal law, etc.) whereas others specialize in just a few related fields. There’s a saying that you can know a little about a lot or a lot about a little. Attorneys specializing in fewer fields have a greater depth of knowledge in those fields. When selecting an attorney, consider whether someone who practices in multiple areas of law or someone who focuses on one or two can better serve your needs.

Is experience important in an estate plan?

Before hiring an attorney, inquire about the years and types of experience that contribute to that attorney’s knowledge base. Given that every estate plan is unique, an attorney with more experience has a greater understanding of how to handle a variety of circumstances,… especially the unusual ones.

Reasons to hire an estate planning attorney

When it comes to your estate plan, proper documentation is key. One misplaced word or phrase, or even a missing signature, can throw off your entire will. This need for precision along with the myriad, complicated state laws you’ll need to consider are reason enough to hire an estate planning lawyer.

What do estate planning lawyers do?

An estate planning attorney’s capabilities extend far beyond helping you write your will or set up a trust. The benefits outweigh the cost—hiring an estate lawyer can help reduce estate and inheritance taxes, saving your estate and its beneficiaries in the long run.

How much will an estate planning attorney cost?

Since estate planning attorney services are highly specialized, you’re going to get what you pay for. Types of fees and amounts may vary by state and firm, but most lawyers will charge you for an initial review meeting, typically by the hour. To anticipate this upfront cost, it’s best to request a quote prior to that first meeting.

How to find the right estate planning advisor

You’ve worked hard throughout your life to build and maintain your wealth. To ensure that wealth has a lasting impact, it’s important to work with a trusted estate planning attorney.

How to plan your estate on your own?

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.

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 factors affect the cost of an estate plan?

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.

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.

What are the things to consider when planning an estate?

When building an estate plan, you may have a variety of concerns, including the following: Maintaining an orderly administration of assets while you are living. Ensuring that your heirs and loved ones receive your assets. Helping to reduce or avoid conflicts and confusion.

How to build an estate plan?

When building an estate plan, you may have a variety of concerns, including the following: 1 Maintaining an orderly administration of assets while you are living 2 Managing estate assets flexibly while you are living 3 Reviewing estates involving tenants in common or community property 4 Considering assets in multiple states 5 Examining small business assets 6 Naming your children’s legal guardian 7 Ensuring that your heirs and loved ones receive your assets 8 Helping to reduce or avoid conflicts and confusion 9 Minimizing legal expenses and taxes 10 Assessing wealth preservation

How can estate attorneys help with dementia?

Estate attorneys should help clients fiscally prepare for the possibility of disability or dementia by drawing up powers of attorney , healthcare directives, and living wills .

Why is it important to have an estate plan?

It's important to have a solid estate plan in place to ensure that your loved ones receive your assets without a hassle or undue delay after your death. There are many questions you should ask prospective estate-planning attorneys before hiring one to craft your estate plan. Above all, make sure you hire an attorney who demonstrates ...

Is an estate attorney a tax advisor?

While an estate attorney's expertise may overlap with these fields, they may not be a general tax expert or investment advisor. Give yourself enough time to gain a broader, big-picture perspective on your estate plan and the logistical practicalities of implementing it.

Can a lawyer draw up a will?

Although any lawyer can draw up a simple will for straightforward situations, such as naming the beneficiary of one's 401 (k), seasoned trust-and-estate lawyers can help navigate more complicated situations involving several trusts and multiple heirs. 1:21.

Do lawyers draw up trusts?

Some lawyers merely draw up estate-planning documents, while others also execute the associated trusts. It's generally more efficient to retain a lawyer in the latter category, who can ensure that the correct assets are transferred into the trust.