It’s never too early to start planning your estate, and it’s only too late when you’ve already passed on. The earlier you get started, though, the better prepared you will be to ensure that your wishes for what happens to your property after you pass away are carried out to the letter—and that the wealth you have amassed can continue to provide for your family long after you are gone.
Of course, to develop an effective plan for your estate, the first thing you need to know is how to find a good estate planning attorney. Planning your estate is a big deal, to say the least—and there is no one-size-fits-all plan for everybody. Whether you’re young or old, how much property you own, if you own a business, or if you’ve married a wealthier partner—these are just a few factors that go into coming up with strategies to plan your estate and preserve your wealth.
That means there’s no one estate planning attorney who can meet any person’s needs, either. The right estate lawyer knows where you are in life and is equipped to get your estate where you want it to be by the end of it. In this article, we’ll shed light on what you need to know about how to select an estate planning attorney you can rely on to plan for the future and the hereafter.
Why do you need an estate planning attorney?
Do you have children? Are you worried about navigating estate and inheritance law and taxes on your own? Do you have a chronic health condition or disability that puts you at risk for incapacity in the future? Are you the owner or otherwise have significant interests in a family business? Have you been married more than once in your life? Is planning out your charitable contributions especially important to you?
If your answer to any of these questions is ‘yes,’ knowing how to choose an estate lawyer will make your life much easier.
The more complicated your estate is, the more an estate planning lawyer can help you make sense of it all and choose the best strategies to ensure that your wealth continues to work for you and your loved ones after you retire and does the most possible good for your loved ones after you pass on.
The right estate lawyer can set a business succession plan in stone so there is no question about what happens to your business after you retire, implement the appropriate types of trust to minimize the effects of estate and inheritance taxes, ensure that your assets are restructured for protection in a second or third marriage, or keeping your end-of-life wishes in check if you lose the ability to make your own medical decisions.
Estate planning can get complicated and messy quickly. When it does, those who know how to find a good estate planning lawyer have a leg up when it comes to tackling those complexities head-on.
What are the risks of choosing the wrong estate planning attorney?
Not knowing how to find a good estate planning lawyer can lead to serious trouble for your loved ones after you pass on. If you have a complex estate and your lawyer lacks the specialized focus in the areas that are most important to you, or if you go without an estate lawyer altogether, your estate plan could end up incomplete or containing errors that lead to:
- Legal challenges after you pass on
- Delays in probate
- Unexpected tax liabilities
- Unintentional disinheritance of beneficiaries
If your estate plan is not properly executed or is unclear, disputes among heirs can lead to litigation and prolonged, costly probate proceedings as well as disputes or conflicts between your beneficiaries.
Choosing the right attorney ensures that your estate plan is thorough, legally sound, and reflective of your wishes.
Five Tips for How to Choose an Estate Planning Attorney
Choosing an estate planning lawyer isn’t easy or quick—and it shouldn’t be. This is a big decision to make, so don’t feel pressured to make it quickly. Take your time investigating and vetting estate lawyers in your area and follow these five tips on how to find a good estate planning lawyer:
1. Make sure you know what you need from your estate plan.
Think hard about your goals for your estate and the factors that make your circumstances unique. You will want to find an estate lawyer with specific experience working with clients in similar situations as you—for example, if you are a business owner, you will want to look for estate lawyers with ample experience in business succession planning.
If you have a complex estate, a jack-of-all-trades, master-of-none lawyer isn’t likely to provide the deep expertise you need to overcome specific estate planning issues. A lawyer who treats estate planning like a sideline rather than a core area of practice may be able to handle simple matters, but will be out of their depth in more complex affairs—and the last thing you need is an estate lawyer who is out of their depth.
2. Don’t pick the first estate lawyer you consult with.
Interview a wide range of candidates. Treat it like you’re an employer evaluating applicants for an important position—because in a way, you are. You are hiring an estate lawyer to advise and support you on the best ways to ensure your estate continues to provide for your family after you are gone and to minimize the risks of probate issues causing strain on your family.
When you interview your candidates, pay close attention to their areas of expertise, their credentials and certifications, and how well they communicate with you. Communication is one especially important issue people who know how to choose an estate attorney often focus on: Your ideal estate lawyer should be easy to reach, fast to respond when you have questions, and willing to take the time to explain complicated estate matters with you clearly. If you’re in talks with a lawyer and run into consistent delays or poor responsiveness, you might be talking to the wrong lawyer.
3. Look for lawyers who specialize in your needs.
Even if you have a very simple estate, estate plans should be customized based on individual needs and goals, not generic templates, so avoid lawyers offering one-size-fits-all solutions. If you have a complex estate, a jack-of-all-trades, master-of-none lawyer isn’t likely to provide the deep expertise you need to overcome specific estate planning issues.
A lawyer who treats estate planning like a sideline rather than a core area of practice may be able to handle simple matters, but will be out of their depth in more complex affairs—and the last thing you need is an estate lawyer who is out of their depth.
4. Ask about their fee and billing structure.
Estate planning costs money, and it’s your and your family’s financial solvency well into the future that’s at stake—so you want to make sure you get your money’s worth. Knowing how to select an estate planning attorney also involves making sure you know what you’re paying for
A trustworthy estate planning lawyer will be upfront with their pricing model, such as whether they charge an hourly or flat rate fee or work on retainer. Transparency about costs and billing structure is essential to a trusting attorney-client relationship—so if the lawyer you’re looking into is cagey or evasive, keep looking.
5. Pay close attention to client reviews and testimonials
You should background-check your prospective estate planning lawyers just as you would background-check a prospective employee. Try to find a lawyer with a reputation for leaving satisfied clients in their wake. If the lawyer has a lot of negative client reviews, or if your searches through local legal directories and the state bar association turn up disciplinary actions or unresolved complaints, pass them up.
When it comes to how to find a good estate planning attorney in Tennessee, some of your best assets include:
- Word of mouth from people you know
- Google reviews from former clients
- Legal directories such as Avvo, FindLaw, or Martindale
- The Tennessee Bar Association
MHPS Law: Tennessee’s Trusted Estate Law Experts
Knowing how to choose an estate planning attorney is a skill you might not have until you realize how much you need an estate lawyer—but with sound and common-sense advice under your belt, you’re sure to find the right legal professional to ensure your estate can do the most good for your loved ones, even well after you have passed on.
Our Nashville-based estate lawyers are here to help with everything from succession planning for your business to managing healthcare directives and choosing trusts that protect your loved ones’ inheritances from Tennessee estate and inheritance taxes. Get in touch with us today—you might just bring your search to an end.
