Whether you need assistance with probate, the distribution of assets or planning for your family’s future, an estate planning attorneys can help. However, you need to find the right one for your needs.
Start by asking for referrals from trusted friends and financial professionals you work with. Then narrow your list and interview candidates using a prepared set of questions.
1. Reputation
Whether it’s forgetting to update your will, failing to name long and short-term guardians for your children or putting a child’s name on a deed without discussing the implications with an attorney, these and other common estate planning mistakes can leave a mess behind for your loved ones. The right estate planning attorney can make your life easier by crafting a legal plan that meets your unique needs.
Start your search for an attorney by getting referrals from friends, family members and other trusted professionals such as financial advisors. Then, narrow down the list by checking whether they specialize in estate planning, are licensed in your state and understand their fees.
Some attorneys may bill by the hour, while others will have a flat fee for certain services. Some attorneys also offer free consultations, which can give you a feel for how they communicate and approach their work. Then, make a shortlist of candidates and interview them using a prepared set of questions.
2. Experience
The right attorney will help you craft a plan that meets your specific needs, including guardianship, distribution or management of assets, estate taxes, protection from creditors and more. They will work diligently to see that your wishes are carried out and your goals achieved.
Reputable attorneys specializing in estate planning often work closely with other professionals, such as financial managers and insurance specialists. Consequently, they need to have strong communication skills to convey complex legal technicalities in a way that is understandable. This includes verbal communication as well as written communication.
Estate planning attorneys need to be knowledgeable of federal and state laws pertaining to trusts, wills, inheritance and probate. They also need to be current on these laws, especially as they change over time. It’s a good idea to seek out attorneys with certifications such as accredited estate planner and chartered trust and estate counselor, as well as membership in organizations like WealthCounsel. These credentials indicate that they are committed to staying current on the latest changes in the law.
3. Fees
Despite the availability of do-it-yourself (DIY) tools and online services, most people still want a legal professional to draft their estate plan. This is particularly true following a significant life event such as a birth or death, remarriage, long-term disability, divorce, inheritance, or real property purchase.
Attorneys charge for their time and services, and the way they structure those fees can have a substantial impact on the total cost of the matter. Some attorneys use flat fees, while others bill by the hour.
The best way to find a good estate planning lawyer is by asking for recommendations from trusted friends and family members. You can also ask financial professionals with whom you work for referrals. In addition, many attorneys offer a free initial consultation. During this first meeting, an attorney should be able to get a sense of your needs and quote you a fee for a simple estate plan. Then you can compare that fee with the fees quoted by other attorneys before making a decision.
4. Personality
In addition to finding out an attorney’s qualifications and experience, it’s also important to understand their personality. Attorneys tend to have a particular type of personality and innate preferences. This is especially true in specialty areas like estate planning. For instance, an attorney may have an ENFP (Extrovert/Introvert Personality) preference or a high ESFP (Extrovert/Supportive Personality) score. It is important to discuss an attorney’s personality with potential candidates and learn more about their approach and compensation models.
Zimmet notes that a good estate planner should welcome your questions, make you feel comfortable, and provide answers in language that you can fully understand (not legalese you have to translate). Finding an experienced attorney with a good personality will ensure your wishes are carried out as you intended. It will also prevent any legal snafus or disagreements over your estate plan. If you are unsure about an attorney, ask them for references and reviews. This will help you find an attorney that will work well for your unique situation.
