The Importance in Finding a Skilled Estate Planning Attorney

Estate Planning Attorney

A prominent Estate Planning Attorney in Chicago can help you create a plan that will ensure your assets are distributed according to your wishes and that your loved ones and pets are cared for after your death. They can also help you set up a trust, make charitable donations to avoid taxes on your estate and name an executor.

An estate is a collection of assets and property you own, including real estate, bank accounts, investments and other personal belongings. Upon your death, your estate will need to go through the probate process. This can be costly and time-consuming, as it can involve court supervision and the disclosure of private information to creditors and family members.

It is important to work with an estate planning attorney who has a strong record of helping people with their planning needs. They will be familiar with the nuances of state and federal laws and probate procedures. They will also be able to provide you with advice and guidance on how to protect your assets from lawsuits and other disputes.

The best way to find an attorney is to get recommendations from friends, family and your financial advisor. Ask them to recommend a local attorney with estate planning experience. This person can then sit down with you and discuss your needs in detail and answer any questions you may have.

You should also consider whether the estate planning attorney specializes in your particular area of law. This can help you determine whether they have the expertise to guide you through a complicated situation.

In addition, you should look for an attorney who will put you at ease during the entire process. This will make it easier for you to communicate your intentions and goals, which will help your estate plan go more smoothly.

A lawyer with a focus on estate planning is one who understands how state and federal laws affect your personal situation and goals, which is especially important if you own real estate or have a substantial amount of wealth. This can ensure that your legal documents are in compliance with the law and will be enforceable.

Depending on the type of case, an attorney can bill you for their services on an hourly rate or by a flat fee. A flat fee is often preferred because it indicates how much you will be charged up front.

You should ask about their billing methods and find out if they use a retainer upfront to cover the initial costs of working on your case. You should also ask if they refund any unused funds or if you’ll have to pay more if the project costs exceed the retainer.

An estate planning attorney will typically charge a flat fee for creating a will and other related estate documents. This will be based on how much work is involved, but they can usually estimate how long it will take them to prepare your documents.

Some attorneys may offer a package deal that includes preparing all the necessary documents and fees. This can save you time and money, but the fee will vary based on how complex your legal situation is.