what makes a good estate planning attorney

^{10 Tips for Choosing the Right Estate Planning Attorney for You}

1. Don’t Limit Your Search by Geography Alone First, while your attorney should be licensed in your state, do not limit your search geographically. ...
2. Get a Referral from an Attorney or Other Advisor Get a referral from another attorney, financial advisor or CPA whom you know. ...
3. Beware of Internet Directories Beware of internet “directories” promising to get you a qualified lawyer. ...
4. Does the Attorney Focus on Estate Planning? There are many attorneys that say that they do estate planning. And of course there are many that do. ...
Beware of Bar Association Referral Hotlines The Bar Associations have lawyer referral services (in San Diego County, we have the San Diego County Bar Association Referral Service and North ...
Is the Attorney a Published Author in the Area of Estate Planning? ...
Forget Fancy Slogans and Hype Slogans like “we care for you”, “we help you avoid probate” or “we help you protect your assets” are absolutely meaningless. ...
Does the Attorney Carry Malpractice Insurance? Does the attorney hold a legal malpractice insurance policy? This is a sign of accountability. ...
Ask What Law School the Attorney Attended Just like any other school, law schools that are harder to get into have higher standards and only accept the best students. ...
Does the Attorney Belong to Any Professional Organizations

Full Answer

Do I need a lawyer for estate planning?

First, a good estate planning attorney must be able to listen to the client and understand his or her family situation and needs. They should provide advice and recommendations based upon the individual client – not their philosophy or what will make them the most money.

Why is estate planning so important?

Mar 26, 2015 · What Makes A Good Estate Planning Lawyer? When hiring an estate attorney, you are essentially looking for the same qualities that you look for in hiring any other professional. When filing taxes, you hire an accountant who you believe will ensure that you are in compliance with all IRS rules and regulations, and most importantly will save you money.

Do I need an estate attorney for a comprehensive estate plan?

Feb 03, 2016 · Below is a summary of 10 Tips for Choosing the Right Estate Planning Attorney for You. 1. Don’t Limit Your Search by Geography Alone. First, while your attorney should be licensed in your state, do not limit your search geographically. There are a small handful of attorneys in your area who specialize in estate planning.

What are the most important estate planning instruments?

Feb 22, 2022 · Checkout Estate planning attorney near me for more info. Choosing an estate planning attorney is an important step in your estate planning process. A good estate lawyer will take the time to understand your unique needs and goals and match them with the right type of …

What are the four important estate planning factors?

The Estate Planning Must-HavesWill/trust.Durable power of attorney.Beneficiary designations.Letter of intent.Healthcare power of attorney.Guardianship designations.

What are the 5 components of estate planning?

A good estate plan is comprised of five key elements: Will, Trust(s), Power of Attorney, Health Care or Medical Directive and Beneficiary Designation. A will is a legally binding document that directs who will receive your property and assets after your death.Nov 8, 2017

What are the main goals of estate planning?

Having worked with clients to develop estate plans, there are some common basic goals that are considered. This includes providing for loved ones, mitigating or avoiding probate, minimizing taxes, providing for the orderly distribution and stewardship of assets, protecting assets, and planning for incapacity.

Under what type of will does everything pass to your spouse?

If your spouse left a will, then, for the most part, their assets will be distributed according to the terms of that will. However, because California is a community property state, all assets acquired during the marriage are presumed to be owned equally by both spouses.

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 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.

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 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 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.

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.

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

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 ...

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.

Why should I have a will?

A will or trust should be one of the main components of every estate plan, even if you don't have substantial assets. Wills ensure property is distributed according to an individual's wishes (if drafted according to state laws). Some trusts help limit estate taxes or legal challenges.

What does it mean to have an estate plan?

Many people believe that having an estate plan simply means drafting a will or a trust. However, there is much more to include in your estate planning to make certain all of your assets are transferred seamlessly to your heirs upon your death. A successful estate plan also includes provisions allowing your family members to access or control your assets should you become unable to do so yourself.

How old do you have to be to be a beneficiary?

Note: Named beneficiaries should be over the age of 21 and mentally competent. If they aren't, a court may end up getting involved in the matter.

Is estate planning only for wealthy people?

Estate planning is not only for the wealthy —everybody can benefit from ensuring their assets and finances are properly taken care of after their death. Without the proper planning and documents, probate court may lead to unintended distribution of assets. Estate planning also involves giving permission to family members or an attorney ...

Why is it important to draft a durable power of attorney?

It's important to draft a durable power of attorney (POA), so an agent or a person you assign will act on your behalf when you are unable to do so yourself. Absent a power of attorney, a court may be left to decide what happens to your assets if you are found to be mentally incompetent, and the court's decision may not be what you wanted.

What is a letter of intent?

A letter of intent is simply a document left to your executor or a beneficiary. The purpose is to define what you want to be done with a particular asset after your death or incapacitation. Some letters of intent also provide funeral details or other special requests.

Is a will or trust enough?

Some trusts help limit estate taxes or legal challenges. However, simply having a will or trust isn't enough. The wording of the document is critically important. A will or trust should be written in a manner that is consistent with the way you've bequeathed the assets that pass outside of the will.