Estate planning allows individuals to determine the distribution of assets and the management of properties. This will prevent disputes among family members once the owner passes away. A proper estate plan is crucial to ensure the people you love are cared for when you're no longer around. Getting the help of an estate planning lawyer might facilitate the process of settling a will.
You can start estate planning at any point — when you get married, start a business, or buy a house. You can review and update your plan as circumstances change, such as after a divorce, having a child, or gaining more assets and wealth. Consulting with an estate planning attorney is key to ensuring your plan properly accounts for those major life events.
There are several situations where it's recommended to seek guidance from estate planning specialists:
You wish to create or update your will – a legal document outlining how your possessions will be distributed after your death;
If you're looking to minimize estate taxes through strategic planning and structuring;
You wish to establish a trust – a legal setup where a designated individual (the trustee) oversees assets for the benefit of a beneficiary;
There are challenges in your family dynamics – blended families, dependents with special needs, or estranged relatives;
You intend to create powers of attorney or medical directives that appoint someone to make decisions on your behalf should you become incapacitated;
As a business owner, you need to plan for upcoming leadership changes.
The belief that lawyers for estate planning are only for the rich is one of the biggest misconceptions. Creating a thorough estate plan may benefit anybody with assets, regardless of the amount of their estate.
Lawyers estate planning can customize their services to your specific requirements and objectives. Take into account the following factors when choosing the most suitable legal professional:
If you even start by searching “estate planning lawyers near me,” the first thing is to consider the significant variations in estate planning laws across states. It is essential to engage a lawyer who:
An attorney's academic and professional background can provide valuable insights into their expertise. Therefore, these details are worth considering:
The estate planning track record must be examined when looking for the best estate planning lawyer.
Client feedback provides valuable insight into an estate planning lawyer's performance, abilities, and professionalism.
The next crucial step when hiring attorneys estate planning is a record check regarding cases won or settlements reached.
Before hiring, schedule a meeting:
If you are wondering, "Is there a skilled estate planning attorney near me?" you can start your search at Lawrina Match. This service provides personalized help finding a lawyer and connects you with pre-screened estate planning attorneys. Our platform matches you with legal professionals who are experienced in handling your estate planning needs, taking into account your unique requirements.
Lawrina Match streamlines the search by presenting lawyers’ knowledge of the practice area, location, and user feedback. This lets you focus on what truly matters: preparing for the future.
The purpose of estate planning is to secure and protect your assets in the event of premature death. It lets you decide with whom your entire estate will be divided and ensures your last wishes are carried out after you have gone.
Anyone who has a significant number of assets or a lot of dependents should prioritize estate planning and contact an attorney as soon as possible. However, even if these don’t apply, you should consider hiring an estate planning attorney near you. An unexpected death can happen to anyone, and it is best to have asset protection in place.
Several unfavorable outcomes are possible without any estate planning. The estate might be heavily taxed, so your beneficiaries don’t receive much in the form of assets. Wealth can also be lost to people you have never met before, especially if/when your spouse finds another partner.