How to Find a Good Estate Planning Attorney
The legal realm of Estate Planning can be complex and difficult to navigate, but finding the right attorney can ensure that your family is protected after you pass away. A good Estate Planning attorney will help you to understand the process and work toward a solution that meets your specific needs.
The best way to find a good Estate Planning attorney is by asking for recommendations from friends and family members, but it’s also important to research online. You may also visit https://www.chicagoprobateattorneys.net/estate-planning/ to find the best estate planning attorney in Chicago. Once you’ve found an attorney that sounds like a good fit for your situation, schedule an initial consultation. During this visit, the attorney will likely ask you for detailed information about your finances, assets, and family makeup. She will then review this information to determine the type of documents you need to prepare.
When you’re choosing an Estate Planning attorney, it’s important to look for a lawyer who specializes in estate law. This is because these attorneys are familiar with the laws that apply to your specific circumstances and can ensure that your documents are legal and accurate. However, it’s possible that you may be able to find an attorney who focuses on other types of law, such as real estate, and can still provide quality service.
It’s also a good idea to consider the level of experience that the attorney has. This will be a big factor in how much your estate plan costs. An experienced attorney will have a higher price tag, but they will be better equipped to handle your estate planning needs. On the other hand, a less experienced attorney may be more affordable. This is particularly true if they’re part of a large firm with other attorneys who can support their practice.
Another thing to consider is whether the attorney will charge you an hourly rate or a flat fee. A flat fee is a benefit because it will tell you exactly how much your estate planning will cost upfront. Some attorneys also require a retainer, which is an initial deposit based on the expected total cost of your estate plan. The attorney will then either refund any unused retainer funds or request additional payment to continue working on your case.
You should also make sure that the attorney you choose is knowledgeable about the different types of trusts that are available. A trust is a legal document that designates someone to hold and manage your property for the benefit of others, called beneficiaries. A revocable living trust is a popular type of estate planning tool, but you might want to consider other options as well.
A specialized trust, such as a special needs trust, can be used to provide financial security for disabled family members without jeopardizing their eligibility for government assistance. A Chicago estate planning attorney will be able to assist you with creating this type of trust. They can also help you to establish other types of trusts if necessary for your particular circumstances.