How to Choose an Estate Planning Attorney

Often times it is in a person's best interest to enlist the help of a professional when planning their estate. The laws are so complex that it often takes a specialist to fully take advantage of the existing benefits and avoid the potential pitfalls. The most common specialist found in this area is typically an estate planning attorney.

Although lawyers with this field of expertise are not as numerous as your garden variety defense attorneys, there is, none the less, a sizeable pool of individuals from which to draw. However, as with any profession, there are going to be some people who are more qualified and better at what they do than others. With the proper management of an individual's estate on the line, it becomes very important to make the best selection possible.

With that in mind, let's take a look at some tips regarding how to choose an estate planning attorney.

• Referrals from friends. Ask friends and associates if they have any recommendations. The input you receive is extremely valuable due its unbiased nature. These people have nothing to gain by steering you towards or away from a particular lawyer.
• Check with banks. These financial institutions will often have a list of attorneys that they know of or have done business with in the past.
• Look for names that repeat. While searching for recommendations and referrals keep an ear pealed for names that come up on multiple occasions. They may be people who deserve a closer look.
• Contact your state bar association. Ask if there is any special designation for estate planners in your home state. If so, make sure that any lawyer that you consider has this qualification.
• Interview candidates. Once you have created a list of potential candidates, it is wise to conduct individual interviews.  Ask them about their qualifications, experience, and fees. Additionally, do not hesitate to ask for a list of referrals. If they decline to provide this list, then it may be time to move on.

The same preparation and planning that was used to build your estate should be applied to protecting it. A failure to address this area can have devastating results. Common examples of these negative consequences include: massive amounts of taxation, (which deplete funds which were intended for loved ones) and having your estate divided by a state appointed arbiter. While making these preparations it is important to avoid the common mistakes that could easily undermine a lifetime's worth of assets

This website provides only a general overview of estate planning. You should consult an attorney, or perhaps a CPA or tax advisor for additional guidance.

Copyright 2005 by Estate and Retirement Planning
All Rights Reserved.