Estate Planning Lawyer - Why You Need One
An estate planning attorney, also known as a probate attorney or estate lawyer, is qualified and experienced law professionals with an extensive knowledge of both federal and state laws that affect your estate. An estate planning attorney can help you determine how much money you will receive after you die, shield your heirs from legal actions that may occur during your life, settle the debt burden of your beneficiaries, and manage your assets in the event of your disability or death. An estate planning attorney can even help you establish a personal trust, which can be used to hold property accumulated during your lifetime. In addition, an estate planning attorney can provide information on estate taxes, guardianship of your estate, and probate laws. View here for more detailed info.
An estate planning attorney is not the same as a probate lawyer, who is an attorney who supervises the process of distributing a deceased person's assets. Although they are often confused with one another, they are very different professionals who handle different types of cases. An estate planning attorney works within the framework of estate law, reviewing legal documents and performing other functions necessary for creating a qualified will. A probate lawyer, on the other hand, works on a case-by-case basis dealing with specific assets and assisting with the distribution of those assets.
Estate planning attorneys provide services that range from drafting comprehensive estate plans to drafting trust agreements, executing wills, and executing financial documents such as retirement plans and 401(k) s. An estate planning attorney can help you deal with the many issues that arise throughout your life and at the time of your death. For example, he or she can help you establish a final will and trust that specify the disposition of your personal and business assets. He or she can also assist you with the preparation and distribution of your estate. Your estate plan should cover all aspects of your life, including your finances, business, charities, and property.
If you are considering hiring an estate planning attorney to guide you through the process, you should do some research to find a good one. You can look in your local phone book or the Internet to find qualified attorneys. It is always a good idea to interview estate planning lawyers before deciding whom to hire. You should ask about their years of experience, their licensing requirements, and any recommendations they may have made in the past. Also, ask them about the success rate of their attorneys in reaching your goals, and whether they have ever faced a personal crisis that caused them to take on this complex case.
Another thing to consider when you are looking for a good estate planning attorney is his or her background and education. You need someone who is familiar with the various legal documents you will need, such as your power of attorney documents, durable power of attorney documents, and the minor children's estate plan. He or she should also be knowledgeable regarding tax laws, estate planning contracts, probate laws, and the probate process. Your attorney should be able to explain the concepts clearly and should be able to help you decide on the most feasible solution to your problems.
The final thing you should consider when you are trying to find the right estate planning attorney is his or her personality. You will likely need an attorney who will work well with you and your family. A good Maryland estate planning attorney will be patient, level-headed, and flexible. Don't be afraid to be honest with him or her about your goals, needs, and circumstances. The attorney should respect your wishes and make sure to get you the best possible result in your estate plan.
For additional info look here - https://www.encyclopedia.com/social-sciences-and-law/law/law/probate
