Many people don’t consider estate planning until they find themselves in the presence of an illness or a death in the family. But, having a solid estate plan in place can help you make sure your final wishes are carried out and that you don’t leave behind any legal issues that could burden your loved ones. This guide to estate planning lawyers and probate lawyers will help you navigate the world of wills, trusts, and more, so you can rest assured that everything you need to be done after your death will be done.
What Estate Planning Lawyers Do?
Estate planning lawyers help their clients plan for the distribution of their assets after they die. This includes creating wills, trusts, and power of attorney documents. They also help with probate, which is the legal process of distributing a person’s assets after they die. Probate can be a long and complicated process, so having a lawyer to help you through it can be very helpful.
How Do I Find The Right Estate Planning Lawyer?
If you’re considering estate planning, you might wonder how to find the right lawyer. Here are a few things to keep in mind when searching for an estate planning lawyer:
- Do they specialize in estates?
- Does the American Bar Association accredit them?
- Is their license current?
- What languages do they speak fluently?
- How much do they charge per hour?
- Will they provide initial consultation without charging anything upfront?
What You Need To Know Before Hiring An Estate Planning Lawyer?
If you’re considering hiring an estate planning lawyer, you should know a few things first. An estate planning lawyer can help you create documents like wills or trusts that detail how your assets will be distributed after your death. In addition, some estate planners also specialize in helping clients plan for care in their later years by creating power of attorney documents and advance directives. There are many different types of wills and trusts that these professionals can create to best fit your needs- but they may cost more than preparing your own documents at home with do-it-yourself templates online.
Types Of Wills And Trusts
There are many types of wills and trusts, each with its own set of rules and regulations. It’s important to consult with an estate planning lawyer to determine which type of will or trust is right for you. The simplest wills are called holographic wills and should be handwritten by the person making the will. A holographic will must be signed by the testator in front of two witnesses who can then attest that they witnessed the signing of the document.
If a holographic will does not contain any assets, it is referred to as a ‘simple’ will. It is considered a’ complex’ will if it does contain assets, such as real property, stocks, or bonds. Other types of wills include joint wirs – wich provides for all heirs equally – and payable on death (POD) beneficiary designations on accounts that allow assets to pass directly from one account holder to another without going through probate court first.
When Do You Need An Estate Planning Lawyer?
If you have a complex financial situation, own a business, or have significant assets, you may need an estate planning lawyer to help you create a plan to protect your assets and make sure that your wishes are carried out after your death. Even if you don’t have a lot of money or assets, an estate planning lawyer can help you create a will or trust to ensure that your loved ones are taken care of after you’re gone.
Is Estate Planning Lawyer And Probate Lawyer The Same?
Estate planning lawyers help you create a will and trust so that your assets are distributed the way you want after you die. A probate lawyer helps Executors settle the estate of a person who has died. The two types of lawyers are similar, but some key differences exist. For example, an estate planning lawyer is focused on creating legal documents for living people, whereas a probate lawyer is focused on settling the affairs of someone who has already passed away. When making any decisions about your estate plan, it’s always important to speak with an estate planner and a probate attorney to ensure you’re choosing the right type of law firm for your situation.