What To Do Before Dealing With Your Potential Estate Planning Lawyer

VWB Blog 2 years ago 21

As the name suggests, an Estate Planning Lawyer offers legal advice to clients who own assets that require management after their death or during their incapacity. It would be inclusive of payment of corresponding estate taxes to the state, and grant or release of the assets to legal heirs. The question to ponder upon would be how a Probate Lawyer is responsible for managing your real estate.

Understanding The Responsibilities Of An Estate Lawyer

Estate planning lawyers would be responsible for the determination of the specific distribution of the estate to the heirs of their clients. They would possess adequate knowledge about real estate laws and provide adequate advice to clients who look forward to setting up a trust where assets would be preserved and saved for a specific beneficiary. The law practitioners would draft Wills and other important documents associated with estate planning and trust.

Apart from taking care of estate plans and trusts, these estate planning layers would be the best people offering adequate insights about life insurance laws and retirement plans. They would also settle wills, real estate plans, trusts, and related deeds requiring court litigation.

An effective estate lawyer would have a comprehensive understanding and knowledge of federal and state tax laws, wills, trusts, and property.

Types Of Estate Planning Lawyers

Estate planning lawyers could be categorized into –

  • Litigation Real Estate Attorney
  • Transactional Real Estate Attorney

A transactional attorney would prepare documents, review documents, and negotiate terms. They would also be required to perform various other tasks to get things done for their clients.

The litigation attorney would work to resolve the real estate transactions having legal impediments in the court of law.


Questions To Ask Before Hiring A Real Estate Planning Lawyer

Before you contemplate hiring an Estate Planning Lawyer, consider asking the following questions.

·        How Long Have They Been Working As Estate Attorneys?

It would be a good idea to hire an experienced Probate Lawyer for drafting Wills and other important documents. An experienced estate planning lawyer would be aware of the required documents and could recommend others about your specific situations. Consider looking for a firm having adequate experience in the arena. They should have received special recognition for their reputation of being the best in the legal arena.

Inquire about the business they have brought in. Consider hiring a firm comprising estate planning lawyers only. It would give you a better chance to focus primarily on various aspects of the law. It would not be a problem if the law firm handles other types of cases. However, ensure that they have the requisite experience to assist you with your documents.

·        How Much Do They Charge For Their Services?

Most firms would have a set price. You might come across a few charging by the hour. Before you sign a contract, consider seeking a written notice of the fees. Ensure that it matches what you have been told. It would help you avoid any unforeseen events or surprises later. If you have been given an estimate, look for what happens if the total cost exceeds the estimate. Would you be notified ahead of time? Would you be billed unexpectedly? Rest assured that the cost could be based on numerous aspects. It would be inclusive of the difficulty of the plan, the experience of the lawyer, and your location.

·        What Would Happen If The Will Is Contested?

In this case, the Estate Planning Lawyer you hire would work to your family’s advantage. In case of your demise, it would be possible for your relatives, friends, and business partners to contest your last desires. When your Probate Lawyer creates the documents, the chances would be higher that your wishes are carried out legally. In case, they contest the will, your lawyer could assist and defend your family member in court through litigation.


·        Who Should Receive The Inheritance?

A majority of people would have a decent idea of whom they want to leave their inheritance to after they pass away. In case, you have children and grandchildren, rest assured that estate lawyers could assist you to determine how it would be in your best interest to divide your assets. They could ensure that you are aware of any situations that could cause your heirs to pay an enhanced percentage of tax.

Estate planning lawyers would be an essential resource when it comes to determining your last requests or Wills. These questions would be imperative to ask, but these are merely an initial point. Ensure you were comfortable with the lawyer and do not forget to update your documents if you come across a change in the situation that requires an update.

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