An estate planning lawyer helps individuals and families create legal plans for managing and transferring property, protecting beneficiaries, and preparing for incapacity. Depending on your situation, an attorney may draft a will or trust, establish powers of attorney and health care directives, review beneficiary designations, address estate or tax considerations, and help reduce potential problems during probate.
| Will | Trust |
|---|---|
| Takes effect according to its terms at death | Certain trusts can operate during your lifetime |
| Directs distribution of covered assets | Holds and manages property placed in the trust |
| Can name guardians for minor children | Can establish detailed rules for beneficiaries |
| Generally goes through probate for covered property | Properly funded trusts may allow assets to pass outside probate |
| Names an executor | Names a trustee |
| Usually simpler to establish | May require additional setup and ongoing administration |
Before hiring an attorney, consider asking:
How much of your practice focuses on estate planning?
Do you regularly prepare both wills and trusts?
Can you review how my assets are titled?
Will you review beneficiary designations with my overall plan?
Do you handle estate and tax planning when necessary?
How often should my estate plan be reviewed?
Do you charge a flat fee or hourly rate?
What documents are usually included in an estate plan?
An estate plan may include a will, trust, financial power of attorney, advance health care directive, and related documents. The documents appropriate for you depend on your family, property, objectives, and applicable state law.
Do I need both a will and a trust?
Not everyone needs both. A will provides instructions for covered property after death, while a trust may provide additional control over assets and how beneficiaries receive them. An attorney can determine whether a trust adds meaningful benefits.
Can a trust help avoid probate?
Assets properly transferred to certain trusts may pass outside the probate process. However, simply creating a trust does not automatically move assets into it; proper funding and coordination are important.
What happens if I die without a will?
If you die without a valid will, state intestacy laws generally determine how probate assets are distributed. The rules vary by state and may not reflect how you would have chosen to distribute your property.
How often should I update my estate plan?
Reviewing the plan after significant family, financial, health, or residential changes is sensible. Even without a major change, periodic reviews can identify outdated beneficiaries, fiduciaries, documents, or asset arrangements.
Can an estate planning lawyer help reduce estate taxes?
An attorney can evaluate whether federal or state estate, inheritance, gift, or other tax considerations affect your estate and discuss legally appropriate planning strategies. Tax consequences depend heavily on individual circumstances.
How much does an estate planning lawyer cost?
Costs vary based on location, attorney, documents required, and complexity. Some attorneys offer flat-fee packages for basic estate plans, while more complicated trust, business, or tax planning may involve different fee arrangements.