An Estate Planning Attorney is a legal professional who helps you plan for and distribute your assets after death. They can help you create a will, power of attorney, and other documents to protect your wishes and ensure that your family has a fair and equitable distribution of your estate.
They can also prepare legal documents to make sure that you receive the medical care you deserve. These include advanced directives, living wills, health care powers of attorneys, and healthcare proxies.
Choosing the #1 estate planning attorney can be a daunting task, but it is essential to have the right one in place to guide you through this process. There are 3 key steps that you should take in order to find the best fit:
#1 Choose an Attorney Who Specializes In Your Needs
Depending on your needs, you may need an attorney with a specific specialty. This is especially true if your estate includes significant real estate holdings, or if you have financial interests overseas or other complex issues that call for the services of an attorney with expertise in international estate planning.
#2 Look for an Attorney With a Personal Approach
A good estate planning attorney will be personable and easy to talk to, making them someone you feel comfortable with as they guide you through the process of creating your estate plan. This is important since this type of legal work can be emotionally taxing.
#3 Ask for Referrals
The first place to start when looking for an estate planning attorney is your friends and relatives. They will be able to provide you with recommendations, and it is also helpful to get referrals from your financial advisors as well.
#4 Check for Fees
If you are working with an estate planning attorney for the first time, be sure to get a quote for their fees up front. These charges will vary from lawyer to lawyer, so it is important to know what you are paying for before hiring one.
#5 Ask Questions
Once you have narrowed your list, interview each of the candidates by asking them a set of questions and getting an idea of how they charge for their services. You should also ask each candidate to provide a written fee schedule so that you can compare them before making a decision.
#6 Gather Information
In addition to gathering and reviewing all the necessary paperwork, a competent Chicago probate attorney will also need to conduct a thorough review of your assets. This can be a tedious task, but it is important to do so in order to identify any potential estate and gift tax implications.
An effective estate plan can be a lifesaver for you and your loved ones. It can prevent your heirs from facing unexpected and costly delays and expenses in probate court, as well as preserve your privacy while your estate is being distributed.