Choosing an Estate Planning Attorney

First, it’s important to understand that we all have an estate. Your estate is anything you will leave behind when you die. Part of estate planning or end-of-life planning involves financial, legal, and tax decisions. If money is tight, you may be able to do some simple wills, trusts, and powers of attorney on your own. But if your estate is complicated, it may be in your best interest to work with an attorney so that your survivors can avoid confusion, unnecessary probate, fees and taxes, delays, and other frustrations.

Your family deserves an attorney who is devoted to this area of law. To find a qualified estate planning attorney, you’ll need to do a little research. First, ask others for recommendations or begin your search online. When you have a list of attorneys, consider the following to help you chose the attorney that feels like a good fit.

Education and Experience – Generally, the more experience the better. Any attorney can call himself an estate planning expert. So, you should find out how long he or she has been practicing and how much of his or her practice is devoted to estate planning and administration. And while education and experience is important, don’t overlook peer recognition.

Personality – A number of personal questions will be asked of you during your meetings with your attorney. It’s important that your attorney makes you feel comfortable having these discussions, and that you trust the attorney with this information. His or her manner should put you at ease, and he or she should be understandable and be able to explain the law clearly.

Organized Process – Hiring an attorney and having that first meeting is just the beginning. Your estate planning documents are no good until they are signed and funded. Your attorney should have a well-defined process in place that ensures everything is organized and proceeding in a timely manner. Further, ask what process he or she uses for document review. Mistakes happen, but a formal review process and a detailed checklist can help to reduce costly errors.

Document Storage – Keeping your original estate planning documents in a safe deposit box is not ideal, because when they are needed, they may be difficult to locate or get access to. Find out whether the attorney’s firm will store the original documents. Be sure to let loved ones know the location of the documents and who to contact. Further, upload copies in your My Life and Wishes® account along with your attorney’s contact information.

Succession Plan – Find out what will happen to your documents and who will represent your estate if your attorney is not available (either temporarily or permanently).

Professional Liability (Malpractice) Insurance – Does the attorney have proper insurance? It may be years before a mistake is discovered, but if it happens, it could be costly.

Costs – Not all estate plans are equal, and a lower cost plan may end up being the most expensive. Some attorneys charge by the hour and some have a fixed fee. Some attorneys will offer a free or low-cost initial consultation and others do not. Get estimated costs up front to avoid confusion. Take the time to fully understand what you are paying for and what you should expect.

Team Player – If you are working with other professionals, such as financial, insurance, and/or tax advisors, it’s important that your estate planning attorney is accessible and will work well with your entire team. Your attorney should be a good communicator to you and the rest of your estate planning team.

References – Ask the attorney for two or three references. Don’t be shy about asking how well the process worked overall, what kind of work was done, how much it cost, how long it took, and how well the attorney communicated. Discuss whether he or she received good service at a fair price, and how he or she felt about the experience.

Size of Practice – In addition to the attorney, find out how many others work at the firm. Anticipate that the attorney may delegate some of the work to others in his or her office. Depending on your needs and expectations, you should be comfortable with the amount of work the attorney will do versus how much will be delegated to other staff.

Estate planning, also referred to as end-of-life planning, involves reviewing your financial circumstances today to ensure that you are prepared for tomorrow – no matter how much or how little you have. With a little research, you can find an attorney that is right for you.