Throughout history, it has often been said that one’s legacy should be the focus of one’s life. In modern times, an estate planning attorney advises their clients on how to prepare for when they inevitably pass away. Note that a good estate planning attorney will go beyond just writing a last will and testament, they will help mitigate or avoid estate taxes, and discuss the possibility of a living trust to ensure that your beneficiaries are taken care of when you are gone. Other services they often provide include setting up power of attorney or healthcare instructions should you become mentally unfit to make healthcare decisions for yourself.
Find a Good Estate Planning Attorney
Finding a good estate planning attorney is important for the future security of your loved ones, and for your peace of mind. If you have an accountant, a financial advisor, or another kind of attorney, these are all great people to ask for referrals. Accountants and financial advisors frequently interact with estate planning attorneys as they all handle financial information and records for their clients. Asking your accountant or financial advisor who set up their estate plan is an easy way to broach the subject with them.
Many consumers turn to Google or Yelp to find their estate planning attorney. While this is certainly a viable strategy, be sure to pay attention to their reviews, and also check their business profiles on multiple directories (such as Yelp, Yellowpages, and your state’s bar association) to get a complete picture of the business. Next, you should meet with at least a couple different estate planning attorneys to compare your experience.
Meeting with An Estate Planning Attorney
When you meet with the attorney who will potentially be planning your estate, there are a few questions you should make sure to ask:
- How long have you been in business? Asking this question will certainly give you an idea of their level of experience and competence.
- Who is on your legal team? Some lawyers work by themselves, while others work in teams and have paralegals to assist. It’s important that you know who will be handling your affairs.
- What will the costs be? Naturally, their services will cost money, so it’s best to bring this up right away so there are no surprises later on in the process. While estate planning may not be cheap, the peace of mind and legal frameworks they set up will be well worth the money, and potentially save you money via avoided taxes and disputes down the line. Note that just because they quote you on a price, you may be able to negotiate with them. Lawyers are also often open to payment plans, so remain flexible and ask them if they can work with you on the payment terms.
Once you begin the process of searching for an estate planning attorney, any attorney you meet with should be able to handle any specific legal questions you have. You’ll be glad to know that your loved ones are taken care of once you’ve found your attorney.
