An Estate Planning Attorney helps people create estate plans that ensure that their wishes will be fulfilled when they pass away. This can include helping them write a will, setting up a trust, and minimizing taxes if possible.
They also assist clients with completing medical powers of attorney, living wills, and other advance directives that give them control over their medical care in the event that they are incapacitated. They also help with the probate process, which is a legal procedure that transfers assets to beneficiaries following a person’s death.
How to Find an Estate Planning Attorney in Chicago Illinois
If you’re looking for a top estate planning attorney in Chicago, it is important that you do your research and find someone that you can feel comfortable working with. You’ll be sharing a lot of personal information with your lawyer, and it is important that you feel confident in their ability to put your mind at ease and make sure your wishes are carried out.
You’ll want to choose a law firm that has extensive experience in this field. This is especially important if you have complex assets and will need an expert to handle them. You’ll also need to find a lawyer who practices in the state in which you live, because laws and procedures are different for everyone. Call Davis & Associates today at (312) 626-8463 for your Free Consultation with a Chicago Probate attorney!
Your goals and objectives, as well as your family relationships, charitable inclinations, and the relationship of federal and state estate tax, gift tax, and generation skipping transfer tax laws to these objectives are considered during the planning process.
It’s a good idea to interview several potential attorneys before making your final decision. Ask for references and look up their online reputation.
They should welcome your questions, provide you with answers that you understand, and talk to you in a way that you can easily digest. This is a very personal process, and you’ll want to be sure that your attorney is someone that you can work with for years to come.
Their fees should vary depending on the nature of their practice and how long they’ve been practicing. Some lawyers will charge an hourly rate, while others will offer a flat fee.
You can usually get a quote on their fee before you meet with them. This will allow you to compare their rates with the other attorneys that you’re considering.
Many attorneys will set up an initial meeting to discuss your estate planning needs and see if you’re a good match for each other. They will likely also send you a questionnaire before the meeting that includes questions about your family, finances, and wishes.
Once you’ve met with your potential attorney, they’ll take the time to learn about your unique situation and develop a plan that best suits your needs. They will then draft the necessary documents and prepare them for your signature.
It’s always a good idea to consult with an estate planning attorney before naming a trustee, since they can help you avoid costly mistakes when it comes to managing the trust funds and assets of a loved one. They can also help you to identify who should manage the trust if the named trustee is no longer able to do so.