Most people focus on their taxes and investments and neglect estate planning believing that it’s too early to create a Will, trust, or power of attorney. However, estate planning is a vital part of financial planning that protects your assets, as well as the future of your loved ones. An effective estate plan ensures that your wishes are fulfilled upon your death and reduces the tax liability of your heirs. An estate planning attorney not only creates an estate plan but also updates your plans as your circumstances and law change.
Creating an estate plan is beneficial for you, as well as your loved ones but only if done right. Writing your own Will or hiring an incompetent lawyer could result in potential family feuds and legal battles if you die or become incapacitated. This happens due to the errors in the legal document that invalidates the Will or can be challenged in the court. To avoid this situation, hiring a qualified estate planning attorney is a smart decision. However, finding the right professional for this job can be intimidating because a quick Google search gives hundreds of results.
How to Choose an Estate Planning Attorney?
Appearing at the top of the search result is a good indication but you need to do a little extra research to find the best attorney to represent you. Here are some things to consider when looking for an estate planning attorney.
Look for a Specialist
You need to first identify what services you need and then start looking for an attorney who specializes in offering those services. Whether you want to write an estate plan from scratch or need to update your Will, make sure the attorney has experience in offering these services. A certified estate law attorney provides a wide range of services such as writing Wills, Setting up Trusts, Durable Power of Attorney, Medical Power of Attorney, minimizing estate taxation, name guardians, and much more. Hiring a specialist means you get a complete estate plan that suits your needs and protects your family.
Attorney’s Experience
Any law firm can claim to offer estate planning services but not all have experienced attorneys to formulate a solid plan. When searching for an estate planning firm, check out the qualification and experience of their attorneys. You may even contact the law firm and speak to the attorney for further details. Make sure that lawyer specializes in estate law and has a three-year minimum experience in estate planning. They should be certified and up-to-date with the laws of your state.
Schedule Consultation
The genuine attorneys offer a free initial consultation to clear all doubts a client possibly has. You should take time to meet the attorney personally and ask relevant questions such as how long have you been in practice, how many clients you have, where you got your law degree, what services you offer, how much you charge, and more. You should never hire an attorney without doing your due diligence. Asking these questions will help you understand the attorney better and make the right decision. It will also help you find out how much the attorneys charge and if they charge a flat fee or hourly.
Credibility
Lawyers have great communication skills and they can easily convince you to hire them. But before you get too impressed with their communication skills, make sure to do some extra research. Even if everything looks satisfactory- from services offered to price charge, make sure to check the reputation of the lawyer. There are review sites where people share their experiences with a particular business or service. Take a look at these sites to find out if the attorney has multiple satisfied clients.