what questions should i ask of an attorney concerning real property

Here are several questions you should ask yourself: When meeting with a potential estate planning lawyer, how comfortable do you feel? Does your advisor communicate well and clearly?

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What are the best questions to ask a lawyer?

Answer: Many of your questions should focus on potential problems and maintenance issues. Does anything need to be replaced? Does anything need to be replaced? What things require ongoing maintenance (e.g., paint, roof, HVAC, appliances, carpet)?

What should I ask before hiring an attorney?

I don't personally have tons of questions for my attorney, but I use him all the time for deals in my target area (Chicago western suburbs). If you are looking to establish a relationship, you might ask how the attorney bills. My attorney gives me a flat fee, but a lot of attorneys may bill hourly.

How to get free real estate advice?

May 19, 2021 · To find out what’s right for you, ask your attorney the following questions. What Property Can Go in a Living Trust? Most of your property can be placed into your living trust, but some items such as life insurance and certain retirement accounts are not eligible. The more property you place in the trust, the more beneficial the trust will be. Who Should Be My Trustee?

What to ask estate lawyer?

Jun 30, 2020 · Questions to ask when buying land: THE REAL ESTATE AGENT OR ATTORNEY. Both of these individuals are there to ensure both parties are able to cooperate. They can also answer legal questions about the land and contract itself. Note: if you are not buying a property with a real estate agent or attorney, you can also try asking the owner or the ...

What are the things you should know about real estate lawyers?

A real estate lawyer has to develop his knowledge base, skill sets and network based on the industry. It is best advised to go to one in case of a real estate dispute or query as they have the specialised knowledge of the domain. One may learn the specialised knowledge from doing a real estate law course.Sep 22, 2018

What are some good questions to ask an attorney?

In Order to Move Forward With Any Lawyer, First Ask These Ten QuestionsHow Long Have You Practiced Law? ... What Types of Cases Do You Manage? ... Who's Your Typical Client? ... How Many Similar Cases Have You Taken On? ... What Kind of Special Training or Knowledge You Have Outside Your Law Degree? ... What Are Your Fees and Costs?More items...

What do I need to know before signing a House contract?

The names of the parties, a description of the property, and the purchase price. The rights and obligations of the parties. The condition of the property, including what is – and is not – included in the sale. The amount of the earnest money deposit.Jun 7, 2018

How do I prepare for an attorney interview?

If you are interviewing virtually, all of these tips apply.Do your research. Lawyers are known for being good researchers. ... Be presentable and dress your best. ... Come prepared to ask questions. ... Be personable and show enthusiasm. ... Be genuine. ... Promptly send a thank-you note.Oct 28, 2020

How do you answer legal interview questions?

Below are some common legal interview questions—plus suggestions on how to approach them.Tell me a little about yourself. ... What attracted you to our firm/organization? ... Can you describe a challenge or conflict you have faced at work and how you overcame it? ... What is your biggest weakness? ... Do you have any questions for us?Mar 20, 2021

What should be in a house contract?

The agreement should specify whether the buyer or seller pays for each of the common fees associated with the home purchase, such as escrow fees, title search fees, title insurance, notary fees, recording fees, transfer tax, and so on.

What should house purchase agreement include?

As discussed above, a purchase agreement should contain buyer and seller information, a legal description of the property, closing dates, earnest money deposit amounts, contingencies and other important information for the sale.Oct 12, 2021

What should I check on a house contract?

What is included in the contract?The names of the vendor and purchaser. ... The address of the property.The deposit amount and due date.The sale price.The date of the property settlement and whether there are any conditions. ... Whether the property is available as 'vacant possession' or 'subject to a lease'More items...

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 ...

Why is it important to make sure assets are managed prudently?

Overall, it forces individuals to contemplate fiscal matters that will occur while they are living and after their own deaths. It's thus extremely important to make sure assets are managed prudently and that next generational family members will receive inheritances, without incident.

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.

What is title insurance?

Answer: A title search and the issuance of title insurance means the ownership of the property can be cleanly conveyed to the new owners. During the search, the history of the property is researched verifying that all previous claims or liens have been satisfied, allowing a clear title to be issued. If any claim is overlooked, the title insurance protects the owner from the claim. Remember that if it's not in writing on a real estate deal, it's not enforceable.

What is a quit claim deed?

Quit claim deed – transfers interest in a piece of property from one owner to the next. A quit claim deed provides no guarantee from other interests or claims. In some states, a deed of trust is used instead of a mortgage. If there is a mortgage on the property, the deed references the lender.

What is a deed transfer?

Answer: A deed transfers ownership of property from one owner to the next. Deeds are recorded in the county where the property is owned. There are three types of deeds:

Is a foreclosure sale a good value?

Answer: Purchasing a home in foreclosure often appears to be a good value, but factors outside of the price need to be considered:#N#The purchase of a foreclosure often is a "cash only" sale#N#Can you view the actual condition of the home inside and out before placing a bid? The home may be in need of extensive repairs driving up the actual cost of the home.#N#Are there liens for taxes or mechanics liens that the winning bidder will be responsible for?#N#Is there a redemption period for the previous owners? If so, how long do they have the ability to buy the house back before you can move in?

What is a trust after death?

A trust is designed to function during your life and after your death. A will provides for the distribution of all of your assets upon your death. It only provides instructions for what will happen to your assets after you die.

What is a living trust?

A living trust is a document that allows you to place assets into a trust during your lifetime. You continue to use the assets, but they are owned in the name of the trust. You name a trustee who is responsible for managing and protecting the assets in the trust. After your death, the assets in the trust are distributed to ...

What is a revocable trust?

A revocable trust (one that can be altered during your lifetime) does not avoid estate taxes that are applied by your state or the federal government. A special kind of living trust called an AB trust passes assets directly from one spouse to another and avoids estate tax. Living trusts do not pass through probate, ...

Why are living trusts so popular?

Living trusts offer a variety of benefits, which is why they have become so popular. Living trusts allow your estate to avoid probate. By doing so you avoid the costs associated with having a will probated, but you also avoid the delay associated with probate. It can take months for a last will to be probated, but when you create a living trust, ...

Do you need a power of attorney for a living trust?

Living trusts have all of your assets already placed in the ownership and management of a trust, so that should you become incapacitated, they are already being handled for you. Most attorneys do recommend you also draw up a power of attorney which will authorize someone else to make legal and financial decisions on your behalf ...

Can a living trust include all of your assets?

Living trusts cannot include all of your assets since some are not eligible to be owned by a trust. The other problem with a living trust is it can only control the assets you specifically transfer into it, so if you forget to change ownership of something like a bank account, it won’t be covered by the trust.

Do you have to pay upfront for a living trust?

The living trust cost can also be seen as a drawback. You need to pay upfront to have the document prepared and make sure the trust is being managed.

Why is it important to get a contractor to build a house?

Contractors are an important part of your team when you’re buying land to build a house. Your contractor will be able to answer questions regarding the cost and quality of materials that will be used to build. Getting an accurate estimate is an important step in the process as you begin to develop your property.

What is an inspector?

An inspector is a great resource to ask about permits, zoning rights, and other restrictions that may inhibit your plans. Having an inspector answer these questions can help you move more quickly during the building process.

Where does Erika live?

Erika currently lives in New York Metropolitan area with her spouse, daughter and cat. She is originally from Chicago and still considers herself a midwestern at heart. Erika also loves to read, write and travel (fun fact, she has visited all 50 states and more than 30 countries!).

Where did Erika Gokce get her bachelors?

Prior to starting Gokce Capital, Erika received a Bachelor of Architecture from the University of Southern California and a graduate degree in Urban Policy from Columbia University.

What should a lawyer review with their clients before trial?

Every lawyer should review with their clients the possibility of a negotiated resolution prior to trial. In criminal matters, for example, you may be able to get a good plea bargain. In civil cases, your lawyer might propose mediation, a settlement negotiation process involving a neutral third-party.

How to feel comfortable with an attorney?

You should feel comfortable from the beginning of your attorney-client relationship that you will be able to have regular communications with your counsel. Make sure that you exchange contact information and agree on the ways that you will stay in touch.

What is contingency fee?

In cases where you are suing for monetary damages, the lawyer may represent you for a “contingency fee.”. This means the attorney gets paid a portion (typically one-third) of the amount you receive after a successful trial or settlement. Make sure you discuss expenses as well as attorney fees.

How can a lawyer save you money?

Your lawyer can often save you money by delegating routine tasks to firm employees who charge a lower hourly rate. However, your lawyer should be involved in all key aspects and decisions of your case, or should explain to you why a colleague can handle some important part of the matter just as well.

What is the importance of having a lawyer?

Getting a lawyer with the right legal background is essential, but it is also important to know whether your attorney has experience with the judges who will likely preside over your case. If yours is a criminal matter, it is important to know if your lawyer knows the local prosecutors. This courtroom experience can greatly enhance your lawyer’s ability to evaluate the likely outcomes in your case and give you advice that you can rely on.

Why is it important to choose the right lawyer?

Choosing the right lawyer is a very important decision—whether you were in a car accident, have a medical malpractice claim, or find yourself the target of a criminal investigation. Referrals from friends or co-workers can be great, but you need to do your homework to make sure you have the right attorney for the job.

How to discuss case strategy?

In discussing case strategy, your lawyer should give you an estimate of how much time it will take to get to a resolution. Keep in mind that your lawyer does not control the pace of the process and cannot make any promises about when it will be over.

What should an attorney explain to you?

The attorney should explain to you the importance of the attorney - client relationship and the privilege in communications. The attorney should explain to you how and why you should not disclose attorney - client communications to any third parties or your spouse. This is a complex topic.

Why is it important to ask a divorce attorney about their experience?

First, it will test the divorce attorney's knowledge and experience of the divorce process and divorce law. Second, it will educate you on what specifically the attorney can and will do with you to help mitigate the costs. Do not settle for a generic answer.

What can a divorce attorney do for you?

An experienced and knowledgeable divorce attorney will provide you with the tools to communicate better with your spouse. These tools include how to communicate with your spouse, when to communicate with your spouse and how to diffuse conflict.

What happens if an attorney cannot provide references to former clients?

If an attorney cannot provide you with multiple references to former clients, that attorney may not have much success representing clients. The former clients should also be types of cases similar to yours. I am not referring to you going through a divorce and getting a referral to a prior divorce client.

What is spousal support?

Spousal support, also called alimony, is either temporary or ordered at the final judgment. Most divorce cases include both temporary spousal support and spousal support at the judgment phase. We are not going to go into a lengthy discussion about spousal support.

Do experienced divorce attorneys know the law?

Experienced divorce attorneys will not struggle to answer your questions. Experienced divorce attorneys should rarely not know the law. The better divorce attorneys even show you the law in our codes.

What happens if an attorney does not have a solid command of the law?

If the attorney does not have a solid command of the law on these issues, he or she may lack the experience you need. This is especially true if you expect your divorce to be contested and high conflict. Questions to ask a divorce attorney on the first visit about the divorce process. 1.

What is title in property?

A title is a bundle of rights in a piece of property, such as exclusive possession and access easement. Since many titles are passed down from owner to owner, they may be out of date or overly complicated. If there are titles included with your property, consider hiring a title attorney. 4.

What happens if you plant on land that is not yours?

If you plant on land that is not yours, even if you didn’t know about it, you could face lawsuits. If there is any uncertainty about the boundaries of your property, ask if a survey of the land has been done recently. A recent survey will be able to show you clear and up to date boundaries on your property. 9.

Why are conservation easements bad?

Conservation easements prevent land owners from planting, clearing, or hunting on certain areas of land to protect the natural resources. While the easements are good for the environment, it can be bad for you. Ask your seller if there are any conservation easements on the property, and if so, how they affect how much of the land you can use.

What is the highest and best use?

The Appraisal Institute defines highest and best use as follows: “The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value.”.

What is frontage road?

A frontage road is a local road that provides access to private properties. These add to the value of a property. A deeded access is a two-party system where the landowner (who doesn’t have reasonable access to his property) and a nearby neighbor (who does have a means of access) reach an agreement about right of way.

Is it bad to have an environmental hazard on your property?

Having an environmental hazard on your property can be bad for your land at best , and put you at risk for serious health issues at worst. Remember, the seller is not obligated under law to volunteer any information about environmental issues unless you ask in most states. 6.

Why is it important to meet with a small business attorney?

Meeting with a small business attorney is an important way to get your business off to a good start and minimize future risks. Here are questions to ask at your first meeting. New entrepreneurs have their hands full, making plans, developing products and services, and lining up financing.

What does a business lawyer do?

A business lawyer can explain how to start a business and answer your business law questions. But more importantly, a lawyer can identify the risks you face and help you minimize them. When you meet with your lawyer for the first time, it’s a good idea to have some questions in mind.

How to start a business off on the right foot?

Always ask your business attorney to assess your risks and identify ways to alleviate them. Getting business advice and legal help from a small business lawyer is a smart way to start a business off on the right foot. But don’t lose touch with your lawyer once your business is up and running. Make it a habit to seek business legal advice regularly ...

What is a limited partnership?

Other options include a limited partnership, in which some partners are fully liable for business obligations, and others are not, and a nonprofit corporation.

What to do before starting a small business?

Before starting a small business, you must decide how your business will be structured. If you do not form a formal business entity, your business will either be a sole proprietorship (with one owner) or a general partnership (with more than one owner). Legally, you and your business will be the same “person,” so if your business has debts ...

What are the federal laws?

Federal laws range from anti-discrimination laws to health and safety regulations to wage and hour laws. You may need policies and procedures, handbooks, and training to ensure that you don’t inadvertently violate them. You must also comply with state laws relating to such things as the minimum wage.

How does a contract protect a business?

Contracts protect your business by describing the rights and responsibilities of the parties to the agreement. A well-written contract can reduce the number of disputes that arise, ensure that you get paid for the work you do, and provide a clear remedy if one party doesn’t hold up its end of the deal.