If you're looking for help putting together your estate plan, you've probably considered using an estate planning attorney. But what does an estate planning attorney do and what are the benefits?
Estate planning attorneys, also referred to as estate law attorneys or probate attorneys, are experienced and licensed law professionals with a thorough understanding of the state and federal laws that affect how your estate will be inventoried, valued, dispersed, and taxed after your death. In addition to educating you about the probate process, an estate planning attorney can assist you with the following tasks:
- Creating a will
- Designating your beneficiaries
- Establishing durable power of attorney and medical durable power of attorney
- Finding ways to reduce and avoid estate tax when possible
- Finding ways to avoid the probate court process
- Setting up any trusts you might need to protect your assets, both for your own benefit during your lifetime in the event of incapacity, and for the benefit of your beneficiaries after your death
Some of the primary benefits of working with an estate planning attorney include:
- Creating an individualized plan based on your specific needs and offering you the most valuable legal advice for your situation
- Working with an experienced attorney who is knowledgeable about current estate planning laws in your state, ensuring that the decisions you make will be made in accordance with the law and are legally enforceable
- Access to a specialist who can serve as a resource for questions, concerns, changes, and updates to your will and trust
Estate planning doesn't have to be complex or even something that consumes a large amount of your time. If you feel that you might need some help, you may want to consider enlisting the help of an experienced estate planning lawyer.
For more information on estate planning, wills and trusts, visit Protective's Estate Planning Learning Center.