Estate Planning Lawyer
Growing older means accepting that things change. Not only are you getting older, but you need to have a secure estate plan in place so that you can rest assured that your family will be taken care of—as well as your assets when you are gone.
There’s a lot of legal paperwork involved and therefore you should reach out to an estate planning lawyer such as the ones available at Yearin Law Offices. Legal paperwork can be taxing, confusing and may need to be filled out and turned in a specific order. Lawyers that deal in this specialty have experience and understand federal and state laws regarding wills, taxes, trusts and power of attorney.
In addition, if your estate is complex, you will be required to work with a lawyer. A complex estate could be as simple as someone in your family contesting the will, or having a lot of assets spread out all over the place.
An estate planning lawyer is going to handle your matters of estate. They help clients prepare for the financial legacy that is going to be left behind in their wake. They can help you write your last will and testament, set up a trust, help your family prepare for probate court, ensure all taxes are dealt with, aid you in minimizing inheritance tax and estate taxes.
Your estate planning lawyer can also help ensure you are prepared for end-of-life scenarios where you may not be able to make your own decisions. This often involves the power of attorney, drawing up a will, or creating advanced directives.
Your estate planning lawyer may be certified, though they do not need a separate certification to practice, some do choose to acquire further credentials. Sometimes these credentials are available to people who are not lawyers, like financial advisors and accountants. Understanding the designations your lawyer may have can help you understand what they are most knowledgeable about.
- Accredited Estate Planner, or AEP, is a designation from the National Association of Estate Planners and Councils that is given to licensed lawyers, CPAs, chartered life underwriters and other financial advisors. This has a minimum of five years in estate planning experience. You must complete two courses at the American College of Financial Services, and must complete a minimum of thirty hours of education every month. Half of that education has to be in estate planning.
- Chartered Trust and Estate Planner, or CTEP is given to people with a degree in finance, tax, accounting, law or financial services. They must have five related courses, a completed certification training course, and must continue their education annually. This is given to you from the American Academy of Financial Management.
- Certified Trust and Financial Advisor, or CTFA awards the designation to individuals that meet the criteria as follows: three years of experience in wealth management, the completion of one approved wealth management training program, a letter of recommendation, a signed ethics statement and 45 hours of continuing education every three years.