are you looking for an attorney who will help you through all aspects of your estate planning?

An experienced estate lawyer will know what to do, and help guide you through the legal process. If you choose to create a will or trust, consulting with an attorney experienced in estate planning is always a wise thing to do. Drafting a will or trust can be difficult and the help of a professional can be crucial.

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Do I need a lawyer for estate planning?

Apr 09, 2021 · On a less technical note, you should look for an estate planning attorney who puts you at ease. After all, this person will be helping you make what can be difficult and emotional decisions. More often than not, you’ll need to disclose a great deal of personal information, including your final wishes.

How do I choose the right attorney for my estate plan?

Apr 16, 2021 · From there, your attorney will help you craft an estate plan, and you can work together to make sure that it covers all of your needs. Tip: If an attorney offers a free consultation, get the details up front and be clear about—and stick to—the time limits. Once you've established a working relationship with an estate planning attorney, consider revisiting your estate plan …

Why do I need a will and trust attorney?

An experienced estate lawyer will know what to do, and help guide you through the legal process. If you choose to create a will or trust, consulting with an attorney experienced in estate planning is always a wise thing to do. Drafting a will or trust can be difficult and the help of a professional can be crucial. The potential tax implications and legal formalities of will and trust drafting …

What does a probate attorney do?

Jul 29, 2019 · Just because you need a lawyer to help with estate administration doesn’t necessarily mean you will turn over all of the work to the attorney. Even though you don’t have to pay the cost of hiring a probate or estate administration lawyer out of your own money, it’s your responsibility as the executor or trustee not to waste estate funds. (You’re also likely to be a …

How much does an attorney charge per hour?

Hourly rates commonly run between $200 and $300 an hour; again, individual rates may vary by jurisdictions and states, as well as other factors, such as the size of the firm. Note that it's normal for attorneys who bill hourly to bill in increments of no fewer than 6 minutes, or a tenth of an hour.

How much does an estate plan cost?

In general, simple estate plans, including a will, power of attorney, and medical directives, can cost between $1,000 to $2,500. More complex plans—for example, those that include trust documents—could cost up to $5,000 or more. Individual rates may vary by jurisdictions and states, as well as other factors.

What is a retainer letter?

At this point, the attorney may provide you with an engagement or retainer letter, a contract that defines the nature of your legal engagement with them and the terms of the agreement you have reached. These terms include the expenses you will be responsible for and how your attorney will charge for their time.

What does an estate lawyer do?

Estate Lawyers can assist with Estate planning, which covers the transfer of property at death as well as other personal matters. An estate plan is a very important thing you would need to complete in your life because it creates a comprehensive strategy for managing and passing on assets, insurance, and health directives.

What is estate administration?

Estate administration is the process of maintenance and distribution of assets after someone dies. This is done in agreement with either the will of the decedent (person who died) or state law. The death of someone close to you is one of the most stressful things you can experience in life, and sorting through the surrounding emotional chaos is bad ...

What does it mean to create an estate plan?

Creating the estate plan will mean tallying up all the different pieces of a person's individual wealth, including property owned, stocks, holdings, cash, savings, insurance policies, and health issues. People with disabilities need to create specific estate plans to meet their needs.

Who establishes a trust?

Trusts are established by a grantor, who assigns trustees and beneficiaries, as well as guidelines for the trust, and then moves wealth and gifts into the trust. An experienced lawyer can explain all your options and help you understand what types of wills or trusts are right for you and your family when creating your estate plan.

What can a lawyer do for you?

A lawyer can explain all your options and help you understand what types of wills or trusts are right for you and your family. Once your attorney has assisted you in drafting a will or trust-which usually follows estate planning-they may also offer to take care of your estate administration.

Who can help with estate administration?

Lawyers aren’t the only experts who can help you with estate administration work. You may turn to other types of professionals for assistance with particular tasks, including: accountants or other tax professionals. appraisers . financial advisors. real estate or stock brokers, and. paralegals or legal document preparers.

What is an estate?

the estate includes a business, commercial real estate, or unusual assets that may be difficult to distribute among beneficiaries. a complex or ongoing trust needs to be administered, such as a trust for minor children or a special needs trust.

Do estates owe taxes?

the estate may owe state or federal estate taxes, or. a complex or ongoing trust needs to be administered, such as a trust for minor children or a special needs trust. Also, states have simplified shortcut probate procedures for settling small estates.

Work with a Licensed Estate Planning Attorney in your state & gain peace of mind

Trust & Will’s Attorney Support feature gives you access to a licensed estate planning attorney in your state. For just $200, you can add attorney support to your Trust or Will-Based Estate Plan for an entire year. A flat fee, and you’ll get unlimited calls on covered matters and legal help with a live, experienced, vetted Estate Planning Attorney.

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We believe that everybody deserves to have access to an Estate Planning Attorney, which is why we’re working hard to offer attorney support nationwide as soon as possible.

What are the documents needed for estate planning?

The following are the core estate planning documents: 1 Last Will and Testament States your wishes for your property and minor children (if any) for after you pass away. Usually referred to simply as a “will”. 2 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. 3 Durable Power of Attorney Names someone you trust to manage your finances if you can no longer make decisions for yourself. A power of attorney is only valid while you are alive. 4 Revocable Living Trust Determines who should manage and receive your property after you pass away without the cost and hassle of waiting for court approval of your will.

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.

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 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.

Who Are the Important People in Your Life?

This is probably the most important question an estate planning attorney will ask you. Family set up greatly affects the estate planning process. In fact, some states have laws that won’t let a person write certain relatives out of a will. Are you married? Most states protect spouses from being written out of a will.

What Do Your Finances Look Like?

Putting together a list of your finances will help your estate planning attorney make the best decisions for your financial future. Since most states have estate and gift tax laws for assets that exceeds certain amounts, you’ll need to make your attorney aware of every asset and liability to your name.

What Do You Want to Give Away?

Once you take out any spousal shares and pay off liabilities of the estate, it’s time to talk personal bequeathments. Do you want to leave a sum of money to your favorite niece? Do you want to set up a trust fund for your children? How about those heirloom pearls your mother gave you?

Do You Have Life Insurance?

Life insurance also falls under contract law as well, which means it will be distributed according to the life insurance policy. You can, however, list a trust as a beneficiary on a life insurance policy and the terms of a trust can be contained within a will.

Have You Gone Through a Divorce?

Believe it or not, this question matters. Depending on the terms of a divorce settlement agreement, your estate planning attorney will need to know if your ex-spouse has any claims to child support, alimony, retirement accounts, or life insurance proceeds.

All the Questions No One Wants to Answer

Unfortunately, estate planning means answering tough questions. Are you aware of any life-threatening illnesses? What are your wishes for after you’ve passed? If you have any specific wishes or religious requests, these are things your estate planning attorney will want to know.

Where Can You Find the Right Lawyer?

Planning out your will may seem like a tedious process, but an experienced estate lawyer can help you navigate through the ins and outs of planning for your future.

What is a Probate Attorney

A probate attorney is a state-licensed lawyer who can help the Executor of a Will (if one was appointed) or the beneficiaries of an estate get through probate as they work to settle an estate.

What Does a Probate Attorney Do?

Also known as a probate lawyer, probate attorneys are hired to help settle an estate. After the death of a loved one, their Estate Plan dictates the next steps. If they have a Will, probate will be necessary. Trusts won’t go through probate, which can sometimes make the process a bit less complicated and much more private.

Do I Need a Lawyer for Probate?

Whether or not you need a probate lawyer will depend on multiple factors and scenarios. You’ll want to consider things like:

Questions to Ask a Probate Attorney

If you do end up using a probate attorney, there are a few things you should know before retaining one. Asking questions up front will ensure there are no (costly) surprises along the way. Use the following list to help you find an attorney who will be the right fit for your exact needs.