Estate Planning Lawyer

An estate planning lawyer specializes in helping people create a plan to protect their assets. Estate planning involves executing legal documents such as trusts and wills; designating beneficiaries and the assets they will inherit; and appointing estate administrators to oversee your estate.

An estate planning lawyer can also ssist in executing a Durable Power of Attorney and Healthcare Proxy; establish guardianship for minor children; and designate payable-on-death and transfer-on-death beneficiaries to transfer real estate, financial holdings, and other valuable assets.

Experts recommend consulting with several estate planning attorneys prior to making a final decision. It is important to work with a lawyer whose personality matches yours and your appointed estate administrator.

Realize, the Administrator will spend considerable time with your chosen estate planning attorney. Chances are the person will be grieving the loss of you. There is nothing worse than having to contend with a person who grates on your last nerve; particularly when you are grieving.

Developing your estate plan while you are in good health is the best approach. It can be extremely difficult to organize paperwork and provide important details when you are in poor health.

Those who wait to conduct estate planning until they receive a diagnosis of a terminal illness are exposing their estate to a long, drawn-out process known as probate. If people are extremely ill when they execute their Will, family members can easily contest the Will if they feel they didn't receive a proper inheritance.

There are many ways to locate an estate planning lawyer. Start by asking friends, family, neighbors or co-workers for a referral. Local telephone directories are another good source; as well as online business directories. Last, but not least, check with the American Bar Association to locate estate planning lawyers in your area.

Tagged: Administrator, Assets, Estate Planning, Estate Planning Lawyer, Law, Probate, Real Estate, Trusts, Wills

Published on January 15, 2009 at 03:24 AM