Estate planning attorneys, also known as estate law attorneys or probate attorneys, are experienced and licensed attorneys well-versed in the state and federal procedures that control how your property is inventoried, valued, distributed, and taxed following your death. An estate planning attorney Macon GA can help with other responsibilities such as
- Creating a will and a list of your beneficiaries
- Making a durable financial power of attorney and durable medical power of attorney for medical problems.
- When feasible, reduce and avoid estate taxes.
- figuring out how to get out of the probate court procedure
- Creating any trusts you may need to safeguard your assets, both for your advantage during your lifetime and for the benefit of your beneficiaries after your death.
Estate planning is not an easy task as it allows you to reive the possible issues to happen after your death. Although any lawyer may draft an essential will for simple instances like choosing a specific amount beneficiary, seasoned trust-and-estate lawyers can assist with more complex cases involving several trusts and many heirs. As a result, it’s critical to ensure that assets are well-managed and that inheritances are distributed safely to the next generation of family members.
Here are some of the questions to ask your estate planning attorney
1. Is estate planning their specialization?
Only interview a candidate if they say “yes” to this question. An estate professional will be up to date on any legal developments and will have the strategic know-how to draft your paperwork most effectively feasible properly.
2. What is their experience in estate planning
Undoubtedly, it would help if you looked for the most experienced attorney you can find—one who has seen drafted paperwork go into effect after a client has passed away. Such lawyers will have dealt with court challenges or the Internal Revenue Service (IRS) and would know how to overcome any obstacles.
3. Do they execute the plan?
Some attorneys draft estate-planning contracts, while others also carry out the trusts that go with them. Retaining a lawyer in the latter group, who can guarantee that the proper assets are put into the trust, is often more efficient.
4. Do they conduct periodic reviews?
Some estate-planning professionals will evaluate your affairs semi-annually or yearly for a nominal charge. This is vital because changes to your plan may be required if your circumstances change or your funds change. Aspects of your estate planning may also be affected by new legislation modifications.
5. How much do they charge?
Instead of invoicing by the hour, many estate planning attorneys charge flat rates. Some offer a predetermined fee for common services such as creating trust and then set an hourly fee for unique research work. In any event, to avoid unpleasant surprises, it’s a good idea to enquire about compensation schemes ahead of time.
6. Can they create a comprehensive estate plan with wills, trusts, and life insurances?
Wills, trusts, and life insurance policies can all be included in complete estate planning. As a result, your estate lawyer must be well-versed in these topics. Your estate attorney may be able to assist you in deciphering the complexities of each estate-planning tool and determining which ones are best for you.
In summation, it is important to ensure you hire a trustworthy estate planning attorney. This will guarantee you your will is executed after your demise. The above questions may guide you.