Estate Planning Attorney
An Estate Planning Attorney helps an individual strategically plan for life’s most difficult events. At a minimum, a good attorney will explain the purposes and uses of the following documents: Last Will & Testament; Healthcare Power of Attorney; Advance Directive/Living Will; and, Financial Power of Attorney.
When assisting a client with estate planning needs, the attorney does not necessarily need to know the value of assets, but rather will need to know the types of assets owned and the client’s wishes or goals they would like to see fulfilled upon their passing. There is a strategy behind drafting estate planning documents that a client will benefit from by consulting with an experienced estate planning attorney.
Frequently Asked Questions
How much does estate planning cost?
Like any case, it depends on the amount of documents drafted and the complexity of the documents. On average, the cost should range between $1000 - $2000, and the process takes two steps: 1) an initial intake meeting with the estate planning attorney; and, 2) an execution date. Both appointments are usually 1.5 hour in length.
Why is estate planning important?
Estate planning is important for various, individualistic reasons. The most common reason is to avoid the cost, process and delay of probating one’s estate. If done right, estate planning documents reduce the chances of needing to engage the Probate Process by strategic planning. Other reasons include: providing for a particular loved one who is not a natural beneficiary of your estate; donating to a charity or organization; ensuring that a specific item(s) are given to a specific individual; to disinherit a natural beneficiary from receiving anything upon your death; and/or, to legally identify individuals to serve as the guardian of any minor children. If you are unsure if estate planning is necessary for you, you should consult an estate planning attorney to evaluate your individual needs.
How to find an estate planning lawyer?
One finds an estate planning attorney primarily through referrals and marketing. It is always wise to take the time to speak to an attorney over the phone or in person to see if you communicate well with them, because ultimately, the attorney must receive and translate information from you into important legal documents that can have major impacts on your life as well as those you love.
Is estate planning the same as a will?
A Last Will and Testament (a.k.a. A Will) is one of several documents involved in the planning process. It has an important, but limited purpose. Other documents involved in estate planning include, but are not limited to: powers of attorney, deeds, and trusts. An experienced estate planning attorney can help you decide which documents are important to your individual needs and circumstances.