Why You Need an Estate Planning Attorney: A Comprehensive Guide

Estate planning is an essential step in ensuring your assets are properly managed and distributed according to your wishes after your passing. It can also provide critical protections for your loved ones in the event of illness or incapacitation. Yet, despite its importance, many people delay this process, often because they aren’t sure where to start. That’s where an experienced estate planning attorney can help.

In this guide, we'll explore what estate planning attorneys do, why hiring an estate attorney lawyer is vital for securing your family’s future, and how to find the right estate planning lawyer for your needs.

What is Estate Planning?

Estate planning involves creating legal documents that outline how your assets will be managed, distributed, or preserved in the event of your death or incapacitation. These documents may include:

Without a proper estate plan, your estate could go into probate—a lengthy legal process where the court decides how your assets are divided. This can lead to unnecessary costs and delays for your loved ones. Working with a qualified estate planning lawyer ensures that your affairs are handled smoothly and in accordance with your wishes.

Why You Need an Estate Planning Attorney

Some people believe that they can handle estate planning on their own or by using do-it-yourself (DIY) legal forms. However, the complexities of estate law mean that even small mistakes can have significant consequences. Below are several reasons why hiring an estate attorney lawyer is a smart decision:

1. Expert Knowledge of State Laws

Estate planning laws vary significantly from state to state, and these laws can be quite complex. A local estate planning attorney will have in-depth knowledge of the specific regulations in your state. For example, they will be familiar with tax laws, probate procedures, and specific legal requirements for drafting a will or trust that is valid in your jurisdiction.

2. Comprehensive Estate Plan Development

While DIY tools may help you create a basic will or trust, an estate attorney lawyer can provide a more comprehensive estate plan that covers all your needs. An experienced estate planning lawyer will ensure that your plan includes the necessary documents, covers potential contingencies, and reflects your unique situation—whether you have a large estate with multiple assets or a more modest portfolio.

3. Minimize Estate Taxes

One of the key benefits of estate planning is minimizing estate taxes. Federal and state estate taxes can significantly reduce the value of the assets you leave to your beneficiaries. An estate planning attorney can use various strategies, such as setting up trusts or charitable donations, to reduce your tax liabilities and ensure that your loved ones receive the maximum benefit.

4. Prevent Family Disputes

Unfortunately, disputes over estate matters are common, particularly when a clear and legally binding plan isn’t in place. By working with an estate planning lawyer, you can create a plan that is legally sound and difficult to challenge in court. This reduces the chances of family disagreements over your estate, protecting your loved ones from unnecessary emotional and financial stress.

5. Protect Your Privacy

Many people are surprised to learn that without an estate plan, the details of their assets and how they are distributed become public through the probate process. A properly structured estate plan, particularly when it includes trusts, can help keep your financial affairs private. An estate planning attorney can guide you in setting up these instruments in a way that maximizes both your privacy and control over asset distribution.

6. Update and Maintain Your Plan

Life is unpredictable, and circumstances change. Whether you acquire new assets, experience a significant life event (such as a marriage, divorce, or the birth of a child), or move to a new state, your estate plan may need to be updated. An estate planning attorney will help you revise your plan over time to ensure it always aligns with your current wishes and life circumstances.

How to Choose the Right Estate Planning Lawyer

Choosing the right estate planning lawyer is crucial to ensuring that your estate plan is thorough, legally sound, and reflects your wishes. Here are some tips for selecting the right estate attorney lawyer:

1. Look for Specialization in Estate Planning

Not all attorneys specialize in estate planning. Make sure the lawyer you choose has significant experience in estate planning law, including drafting wills, trusts, and other estate documents. They should be knowledgeable about estate taxes and the probate process.

2. Check Credentials and Experience

When considering estate planning attorneys, check their credentials and experience. Look for board certifications in estate planning or elder law, and inquire about the number of years they have been practicing estate law. An experienced estate attorney lawyer is more likely to have handled cases similar to yours and can offer the best advice.

3. Ask for Referrals and Read Reviews

Ask friends, family, or financial advisors for referrals to reputable estate planning attorneys. You can also read online reviews to get a sense of the lawyer’s reputation, professionalism, and customer service.

4. Evaluate Communication Skills

Estate planning can be a complex and emotional process, so it’s important to choose an attorney who communicates clearly and listens to your concerns. During your consultation, take note of whether the lawyer takes the time to explain complicated concepts and makes you feel comfortable discussing sensitive financial and personal issues.

5. Understand the Fee Structure

Estate planning attorneys typically charge for their services in one of two ways: hourly or flat fees. Be sure to understand how the attorney bills for their services and get a clear estimate of the total cost upfront. Don’t hesitate to ask questions about what services are included in the fee and whether there are any additional costs.

Key Documents an Estate Planning Lawyer Will Help You Prepare

An estate planning attorney will help you create a range of documents to ensure your estate is handled properly. These may include:

Conclusion: Secure Your Family’s Future with an Estate Planning Attorney

Estate planning is one of the most important things you can do to protect your family’s future. By working with an experienced estate planning lawyer, you can ensure that your assets are properly managed and distributed, minimize estate taxes, and prevent family disputes.

Don’t leave your family’s future to chance—consult with a qualified estate attorney lawyer today to create a plan that reflects your unique needs and wishes. Estate planning attorneys have the expertise to guide you through the process, making sure that your plan is legally sound, comprehensive, and up to date.

If you're looking for a professional, trustworthy estate planning attorney, start your search today and give yourself the peace of mind that comes with a secure and well-thought-out estate plan.

The Benefits of a Trust

There are numerous benefits of creating a trust as your primary estate planning tool. Different kinds of trusts can help you avoid probate, reduce estate taxes, or set up long-term property management for you and your family, including family members who are minors or have special needs.

A revocable living trust (“RLT”) is a separate entity created for holding title to property for the benefit of a beneficiary. A revocable living trust is just that – revocable and changeable by the person who created it. A “living trust” (also called an “inter vivos” trust) is simply a trust you create while you’re alive, rather than one that is created at your death.

With a revocable living trust, you, the property owner are the Settlor, who creates and can amend the trust, the original Trustee, who manages and distributes the property held in trust, and the beneficiary until death, at which time, a Successor Trustee transfers the property to the successor beneficiaries. Control over the property remains with the owner(s) during life and the transfer of property after death occurs without probate.

One of the primary advantages of creating a living trust is that property left through the trust does not have to go through probate. In a nutshell, probate is the court-supervised process of paying your debts and distributing your property to the people who inherit it. The average probate takes 7-12 months before distributions are made. Property you transfer into a living trust before your death does not go through probate. If you have property in more than one state, a trust can eliminate the need for probate proceedings in multiple jurisdictions. The successor trustee — the person you appoint to handle the trust after your death — simply transfers ownership to the beneficiaries you named in the trust according to how you stated in the trust agreement. In many cases, the whole process takes only a few weeks. When all of the property has been transferred to the beneficiaries, the living trust ceases to exist.

A simple probate-avoidance living trust has no effect on taxes. More complicated living trusts, however, can greatly reduce the federal and/or state estate tax bills for people who own assets above the estate tax exemption. If your estate, including life insurance, is sizable and over the estate tax exemption amount ($3,000,000 for the Maryland estate tax and $5,490,000 for the 2017 federal estate tax), a credit shelter trust can save your beneficiaries tens of thousands of dollars in estate taxes. This specific tax-saving trust is designed primarily for married couples. It is also commonly called an “AB trust,” an “exemption trust,” a “marital life estate trust,” or a “marital bypass trust.” Each spouse leaves property, in trust, to the other for life, and then to the children or other beneficiaries.

Another benefit of a trust is that it is a private document. A will becomes a matter of public record when it is submitted to a probate court, as do all the other documents associated with probate — inventories of the deceased person’s assets and debts, for example. The terms of a living trust, however, need not be made public.

Some other benefits of trusts are that a trust can allow for great specificity with regard to distributions for beneficiaries, asset protection, retirement plan distribution planning to limit income taxes, provisions for special needs children, blended family planning, and provisions to prevent guardianship.

Why Everyone Needs an Estate Plan

The primary reason that everyone needs an estate plan is that if you fail to create a plan, the State will create one for you. The State legislature does not know anything about your family dynamics and the things that you value, so why leave such important decisions to them? If you are a parent, you should be the person deciding who will take care of your children if something happens to you? You should also be the person to decide who gets your assets after you are gone and to decide when and how they should be distributed?

Without a will, state laws of “intestate succession” kick in. In Maryland*, the following distributions would apply if you died without a will:

If the intestate laws do not precisely reflect your wishes, a will and/or a revocable living trust is necessary.

*See MD Code Ann., Estates and Trusts §§ 3–101 et seq. (2003) for a complete description of intestate distributions.

Another reason that everyone needs an estate plan is that a well planned estate is a valuable gift to your loved ones at a time when they will be least able to make important decisions. If you have ever had to suffer through the loss of a loved one, this is all too true for you. Your family should be able to focus on honoring your memory rather than figuring out how to pay bills when the bank will no longer allow access to accounts, or deciding who gets what assets.

A well planned estate also has the following benefits: