Establishing a good estate plan is vital for protecting your property and assets. Having one in place ensures your wealth isn’t lost and that your loved ones left behind still have financial stability. This is where estate planning attorneys near you can help. They can help you prepare all legal documents and offer advice on tax-efficient options to secure your assets and your family’s future.

Keep reading to learn more about what these legal professionals can do to help and how you can find the best estate planning lawyers near you.

What is an Estate Planning Lawyer?

An estate planning lawyer is a legal professional with in-depth knowledge of state and federal laws that impact the division and taxation of your assets following death. Their primary role is to help you maintain control of your wealth and pass it on to the beneficiaries you want in the most tax-efficient way possible. Not only does this protect your assets, but it also ensures any dependents are looked after following your death. It is also the best way to avoid fund-draining court lawsuits that arise from contested wills or other probate-related legal issues.

What Does an Estate Planning Attorney Do?

Estate planning is a large area of the law, encompassing many different aspects. Therefore, you might find many estate planning lawyers near you specializing in one particular area. However, the best estate planning lawyers near you will be able to offer legal advice on all aspects of your estate. Below are some of the common tasks these legal experts can help with:

Drafting and filing documents such as wills and trusts;
Assigning the beneficiaries of your property and other assets;
Establishing durable and medical powers of attorney;
Offering legal advice on how to best distribute your assets;
Explaining the process for probate and helping avoid it;
Advising on succession planning for businesses; and
Discussing your legal rights concerning inheritance tax.

When to Hire an Estate Planning Lawyer?

There are some situations where finding a lawyer for estate planning near you is crucial. This includes anyone that has a substantial number of assets or anyone who has many friends/family depending on them for their livelihood. Similarly, the older you get, the more important it is to have considered what you want to happen with your estate when you die.

However, having an estate plan is helpful for adults of any age. Unpredictable death happens all the time. In case the worst happens, it is always a good idea to have an estate plan in place.

How Do I Choose an Estate Planning Attorney?

Not all local law firms are on par, and you want to appoint the best estate planning lawyer near you possible. This will ensure your personal assets and other property are looked after in the best possible way. Below are some factors to consider:

Experience: Always ask how experienced the law firm and the licensed attorney working on your case are.. How long have they been practicing? And how much of their practice time has been dedicated to estate planning?
Specialization: All clients have different estates, and the best way to prepare for their management following death depends on the specific assets in question. Ask whether the attorney has helped another person in a similar situation with an estate like yours.
Expectations: It is a good idea to talk about your expectations and whether the firm can match these. What channels do you want to use for communication? Will support staff be helping so you always have someone to reach?

How Much Does the Average Estate Planning Lawyer Cost?

People always ask, “How much is a lawyer in my area?” But the price of estate planning attorneys near you varies dramatically between firms. Top-rated lawyers with plenty of estate planning experience charge more than newer firms. The size of your estate also holds sway, and the bigger the estate, the larger the fee.

Nevertheless, most charge a flat fee for the work, which can be discussed at your initial meeting. This could be as little as $1,000 for drafting a simple will or up to $10,000 for appointing power of attorney in more complex cases. Some firms will charge by the hour, though, which is more common for ongoing estate planning as opposed to one-off tasks like writing a will. Make sure you ask about costs when first speaking to the firm to avoid nasty surprises further down the line.

Do Estate Planning Attorneys Usually Charge for Consultations?

Most of the best estate planning lawyers near you will not charge a consultation fee. This is because consultations are a two-way street – your lawyer is trying to determine whether or not they want to take your case, just as you are trying to establish whether or not to work with them. However, all firms have their policies in place. Some will charge a flat fee for consultations regardless of the length, whereas others will charge per hour.

Rhode Island Estate Planning Lawyers