The Role Of An Estate Planning Attorney
- Author Smith Clea
- Published February 25, 2020
- Word count 355
An estate planning attorney is a lawyer who helps clients prepare legal documents to pass their assets on to their heirs after their death in order to preserve their wealth.
Proper estate planning should be done while you are still alive so that you can transfer your money and property to your heirs as you see fit after you pass away.
Estate planning attorneys help their clients plan for the future by helping them designate who will legally inherit their estate.
They provide guidance based on the client’s unique situation as to whether a will, trust, or some combination would be best for their estate plan.
After the plan is agreed upon by the attorney and the client, the attorney goes to work drafting all of the documents.
What Does An Estate Planning Attorney Do?
An estate planning attorneys is an experienced and licensed professional lawyer who has a thorough knowledge of estate and probate law. Estate Planning Attorneys use their knowledge and expertise to craft a customized estate plan based on your needs.
Part of what estate planning attorneys do is to help you find techniques to reduce or avoid estate tax. A good estate planning attorney will also help you craft a plan that will help avoid probate court or legal challenges.
Everyone’s situation is different though, so it is best to consult with an attorney about the transfer of your assets.
Estate Planning Attorney Cost
There are three different methods to charge the legal process. Fees can be charged on an hourly, flat fee, or percentage of the estate basis.
Depends upon the experience of the lawyer and the size of the firm where the lawyer practices. Large organizations usually charge higher rates than the individual practitioners or small organization.
Rates are not charged based on time spent creating the estate plan. An experienced estate planning attorney should know the cost it will take to create your estate plan after an initial consultation.
Percentage of the Estate Assets
Value is based on the value of the estate. Sometimes this method is used when probating an estate.
Additionally, Hire an Estate Planning Attorneymay be able to help you develop a strategy to deal with taxes depending on the size of your estate.http://articlebiz.com
There are no posted comments.
- Know the Role of Criminal Defense Lawyer in Singapore
- Covid-19 Impact On Rental Contracts In UAE
- Impact on Working Hours during Ramadan Due to Covid-19
- All that you should know about the New Anti-Money Laundering Law
- Can Impact of Coronavirus be a Force Majeure Event?
- Multiculturalism here in Australia – a Good read for Migrants.
- How to Hire the Right Personal Injury Lawyer
- UAE joins nations monitoring Offenders through Electronic Tagging
- With the new Law in the UAE, the Prosecution Can Allow the Accused and the Victim to Settle Criminal Matters Amicably.
- Good Bye to Entangling Investigations, Minor Crimes to be Disposed within One Day in the UAE.
- Measures of UAE Ministry Of Labor To Curb Spread Of Coronavirus
- Worker's Compensation Law
- Can Employment Tribunal Cases Be Joined Together?
- Essential Factors to Consider Before Hiring German Translation Services
- 4 Signs You Need Cleaning Services
- Common Causes of Construction Site Accidents
- Preparing for an M&A
- M&A Documents
- Business Formation
- The M&A Due Diligence Process
- Indemnification in Mergers & Acquisitions Explained
- Representations & Warranties: Top Q&As for M&As
- Letters of Intent
- Sponsorship Agreements
- Top 7 Spoilers To Avoid in Business Contract Drafting
- Checklist To Discuss With Your Estate Planning Attorney
- What Is The Difference Between a Will vs Trust?
- When Should I Hire an Attorney in Dallas for a Personal Injury?
- What Type of Issues Does Family Law Address?