When it comes to estate planning, a competent estate planning lawyer can be of immense help to you. Of course, you will definitely be the one to dictate how you want your estate to be planned, but without the supervision of an estate planning lawyer you may make some mistakes that could make that estate plan of your invalid. What is the point of planning an estate that eventually becomes invalid when you die?
An estate planning lawyer is a lawyer that is vast in estate planning, including the estate law of the state you reside in. These professionals have the experience and knowledge to help you plan that estate of yours in a way that is acceptable to the government of your state. An estate planning lawyer can offer you advice regarding how to escape probate, and if found to be trustworthy enough, you could end up naming him or her as the executor of your estate.
If you reside in a city such as Miami and you need the services of an estate planning lawyer, it is best you contact one who is quite conversant with the estate planning process and laws of the state, Florida.
Estate Planning Attorney Fees
If you want your estate plan to be topnotch, or if you don’t want to go through so much stress planning your estate, hire a competent estate planning lawyer. Of course, you will need to pay the lawyer and estate planning lawyer fees are not fixed, they vary for each lawyer. An estate planning lawyer fees hinges on many factors like the type of plan required, including the billing method chosen by the lawyer. Other factors are the experience level of the attorney, the state the plan is being created, the complexity of your estate plan, including the value of all that you own (your assets or estate).
One other thing you must take note of is that, the cost of hiring an estate planning lawyer also depends on the location, the professionalism of the lawyer, including the fee arrangement. Generally, you will need from $200 to $2,000 to hire a state planning attorney, though this depends on the circumstances surrounding your estate.
When hiring an estate planning attorney, ensure you search for one that meets your budget.
Not all competent estate planning lawyers boast of high hiring fee, you can get a good estate planning lawyer for a considerable amount of money if you do your homework well.
Having known who an estate planning lawyer is, including how much it takes to hire one, let us take a look at what estate planning really is.
What is Estate Planning?
Estate planning are plans put in place to facilitate the management and distribution of ones assets upon death or incapacitation. Incapacitation is the inability to make decisions regarding issues like your health care and your finances.
If you suddenly fall ill from a sickness or a condition that incapacitates you, your estate plan will dictate how you are to be cared for, how your medical bills are to be settled, and how your finances are to be managed and utilized. If you don’t make these decisions known by planning your estate, your loved ones will make these decisions for you and it may be one that you don’t like.
Many people feel that estate planning is all about writing a will which states how ones assets is to be shared and managed; but the fact is that, estate planning is more than that. Estate planning covers other areas.
People die suddenly without planning their estate. In a scenario like that, the deceased has no say regarding what happens to his estate neither do his family members. What happens is that, the estate of the deceased will have to be managed and shared by the state government based on the intestate law. So, whoever the state government deem worthy to have a share of the deceased estate will be given a portion. This process is usually stressful and time-consuming. It is something you wouldn’t like your family to go through. So make up your mind and plan your estate before it’s too late.
