Who Does Estate Planning?

Who does estate planning?

Estate planning attorneys will help people in selecting the proper options for maintaining their estate in the event of incapacity or after death. Experienced attorneys seek to fully understand a person’s goals and desires regarding the maintenance of their property and estate as well as suggesting ways to achieve your wishes.

Because a person’s ideas about estate planning differ from individuals to individuals. Some individuals will involve his or her family members and children in their estate plans, other may wish not to. A person may wish to distribute their property and wealth in specific ways, but are unsure of how to begin planning their estate. Qualified estate planning attorneys will inform you of various options available and will also see that a person’s wishes will be fulfilled according to their state’s laws. A person’s estate plan must meet their state’s guidelines so it will avoid expense and hassles later on.

Qualities to look for in a estate planning attorney

When it comes to estate planning it is not “one size fits all”, therefore, it is vital to work with an attorney because he or she has the knowledge and experience to assist people with their unique financial and family situations. A person should also feel comfortable when they are sharing most intimate details of their lives with their attorney, otherwise their estate planning will not meet their exceptions.

Aside from this information, estate planning attorneys should be well versed in the laws of your state, which governs trusts, wills, and probates. Because your plan may become invalid, and will not work in the way you anticipated.

You will pay a premium to plan your estate

When you begin to plan your estate be prepared to pay a premium in order to have your plan created, updated, and maintained by your estate planning attorney. Why? Because you will be paying the attorney for his or her expertise, which accumulated over the years they have worked with other clients in addition to the several legal education classes they take.

Like the old say goes “you get what you pay for” Estate planning attorneys with limited experience in planning estates or non-attorneys are out there trying to sell Revocable Living Trusts through what the media calls Living Trust Mills, so if the cost to plan your estate seems too good to be true it probably is. You should take the time to find and hire estate planning attorneys who are experiences and respected within your area. In the end, you and your loved ones will be pleased that you did so.

How an estate planning attorney can help you:

  • Create irrevocable Trusts or other special types of Trusts.
  • Prepare a legally complete Property Power of Attorney.
  • Assist in putting your brokerage accounts, retirement plans, insurance policies, business and partnership interests, debt and personal property into trusts or business entities.
  • Plan to reduce or eliminate estate tax.
  • Help avoid guardianship of the estate for minors or incapacitated person.
  • Prepare a Will, and help manage the probate process with or without a Will.
  • Pass property to your loved ones in the manner you wish.
  • Ensure your property is appropriately protected from your inheritors’ creditors and predators.

Experienced estate planning attorneys will ensure the continued and smooth management of someone’s estates, and most importantly makes sure a person’s plans are fulfilled liked they planned.