All About Hiring an Estate Planning Attorney

As you grow older, it is important to have a secure estate plan in place so your family is taken care of after you are gone. Because this may involve creating several legal documents, it is highly beneficial to hire an estate planning attorney to manage the process for you. These lawyers specialize in various areas of estate planning, including federal and state laws involving wills, taxes, trusts and powers of attorney. You may especially need a lawyer if someone is likely to contest your will or your estate is otherwise complex.

Ask a financial advisor for help structuring your portfolio to meet your long-term financial goals.

What Does an Estate Planning Attorney Do?

An estate planning attorney is a lawyer who specializes in estate planning. These lawyers are no different from those specializing in mergers and acquisitions or personal injury suits. Regardless of their specialty, estate planning attorneys still have to pass the bar exam for the state in which they practice.

An estate planning lawyer’s duties can be wide-ranging, but they all center around one goal: assisting clients in end-of-life preparation for the financial legacy they leave behind.

Estate planning attorneys perform several duties.

• Estate documents. Most notably, they can help you write a last will and set up a trust.
• Taxes. Your estate planning lawyer can also aid you in minimizing any estate taxes or inheritance taxes that may apply to your holdings.
• Asset Distribution. Once you pass away, they often assist the executor of your will in transferring assets to your beneficiaries.
• Probate. Should probate become necessary, they can help with that, as well.

An estate planning lawyer can help you ensure you are prepared for end-of-life scenarios in which you are unable to make your own decisions. This will typically involve assigning a power of attorney, drafting a living will or creating another kind of advance directive. 

A skilled estate planning lawyer will serve as your legal guide through all aspects of end-of-life preparation.

How Much Does an Estate Planning Attorney Cost?

Law firms have a reputation for being expensive, and for good reason. The services of an estate planning attorney are heavily specialized, which means years of schooling and experience are required. Even if your total costs are high, you can at least rest easy knowing your family and estate are in good hands.

When you meet with an estate planning attorney, they will typically share their fees immediately. Estate planning costs can take various forms and combinations, including initial meeting fees, hourly fees and fixed fees. In most cases, the more time your attorney spends on your estate, the more you pay.

Fees and rates will range from attorney to attorney and state to state. Firms often charge a starting fee for the initial consultation, which typically lasts about an hour. This time is to review your estate planning needs together and ask any questions you may have about the process. If possible, request a quote before your meeting so you can prepare your notes and have time to compare rates between attorneys.

Depending on how early in life you start, there will likely be longer-term maintenance fees. For example, let’s say you and your spouse decide to work with a lawyer at age 68. If your spouse passes away at 75, you will probably need to readjust your estate planning strategy significantly. The same will also be true for other life events, such as the birth of another grandchild.

How to Find an Estate Planning Attorney

To find an estate planning attorney, you should ask friends and family for recommendations. Their personal experiences will be the best indicator of any attorney’s quality.

You can also try getting a referral from your state bar association or a county or local probate court. Your financial advisor can also recommend one, as they typically have attorneys they regularly refer clients to.

A lawyer who specializes in estate planning won’t necessarily have any unique certifications or titles to distinguish themselves. Rather, they’ll simply use the title of estate planning lawyer or estate planning professional. Their entire practice may be explicitly focused on this specialty, but either way, ask what areas of estate planning they have experience in.

Of course, you will need to work with an estate planning lawyer who has passed the bar in your state. State-specific expertise is particularly important in estate planning. That’s because laws and probate procedures differ by state and locale.

On a less technical note, you should look for an estate planning attorney who puts you at ease. After all, this person will be helping you make what can be difficult and emotional decisions. More often than not, you’ll need to disclose a great deal of personal information, including your final wishes. This entire process will be significantly easier if you feel comfortable talking to your attorney.

Estate Planning Attorney Certifications

While separate certifications are not required for estate planning attorneys to practice, some choose to attain further credentials or accreditations. Some of these are available to other professionals who are not lawyers, such as financial advisors or accountants who can help with estate tax planning. 

Knowing what kinds of designations an attorney carries can give you a clue as to their areas of specialty. This could be crucial when choosing an estate planning professional.

These are a few types of certifications that estate planning professionals may hold.

Accredited Estate Planner (AEP)

The National Association of Estate Planners and Councils awards the accredited estate planner designation to several types of professionals.

• Licensed attorneys
• CPAs
• Chartered Life Underwriters
• Certain other types of financial advisors

Requirements include completion of two graduate-level courses through the American College of Financial Services. ¹ These typically take three to six months. Planners must also complete a minimum of 30 hours of continuing education every 24 months, with at least half of that time devoted to estate planning.

Chartered Trust and Estate Planner (CTEP)

Granted by the Global Academy of Finance & Management (GAFM), this designation requires you to meet at least two of several requirements. These include a degree in a relevant area of expertise, the completion of a GAFM-approved accredited training program or a professional license, such as CPA, MBA, PhD or JD. You may also have at least three years of related work experience.

Additionally, all CTEP holders must complete 15 hours of continuing education per year.

Certified Trust and Financial Advisor (CTFA)

The American Bankers Association, along with the Institute of Certified Bankers, awards the Certified Trust and Financial Advisor (CTFA) designation to individuals who meet specific criteria. They must meet one of three education tiers, depending on their overall experience and existing degrees or certifications. ²

To earn the designation, applicants must pass the CTFA examination. Continuing education requirements include completion of 45 credits every 3 years, paying an annual fee and adhering to its code of ethics. ³

When to Hire an Estate Planning Attorney

Not everyone needs an estate planning attorney, but there are situations where working with one can make a significant difference.

Large Estates

If you have a large estate or a wide range of assets, an attorney can help build your estate plan in a way that reduces taxes and simplifies distribution.

Larger estates often face more complicated rules and may also be subject to estate taxes. This makes professional guidance all the more valuable.

Real Estate

Property ownership in multiple states is another common reason to seek an attorney. Each state has its own probate laws, and deciphering them without legal help can quickly become overwhelming.

An attorney can set up trusts or other arrangements to ensure your property transfers smoothly, regardless of its location.

Family Circumstances

Family circumstances also play a role in deciding when to hire an attorney. Blended families, dependents with special needs and estranged relatives can all complicate the process.

In these cases, an attorney can draft clear legal documents that reduce the risk of disputes, such as sibling conflicts, while protecting the interests of vulnerable family members. Without legal support, families in these situations are more likely to face challenges in court.

Contested Estates

An attorney is also important if you expect your will or estate plan to be contested. Disputes often arise when heirs feel left out or disagree with the distribution of assets.

A lawyer can draft documents that are less likely to be successfully challenged. They can also advise you on steps to take during your lifetime to reduce the risk of conflict after you are gone.

Complex Estates

Finally, you may want an attorney if you need more advanced planning tools, such as irrevocable trusts or charitable foundations. These strategies can provide tax benefits and asset protection, but they also require careful drafting and knowledge of both federal and state law. 

Without an attorney, you may not be able to take full advantage of the opportunities available to you. DIY estate planning can easily lead to estate planning mistakes, potentially costing you more money while undermining your goals.

Questions to Ask Before You Hire an Estate Planning Attorney

A recommendation from a friend or family member is a good starting point, but it only gets you to the first conversation.

The questions you ask during that meeting are what help you determine whether this attorney is the right fit for your situation. Most people have never hired an estate planning lawyer and are unsure what the process should look like or what a good answer sounds like. Going in with a few specific questions can save you from making a decision based on nothing more than a firm handshake and a nice office.

Fees

Start with how they charge. Some attorneys quote a flat fee for a standard estate plan that includes a will, a trust, a power of attorney and a healthcare directive. Others bill by the hour. Some include a round of revisions or future updates in the initial price, while others charge separately for every change.

Getting this on the table early prevents confusion later and makes it much easier to compare costs if you are talking to more than one firm.

Specialty

Ask how much of their practice is focused on estate planning.

Some attorneys handle it as one piece of a broader practice that includes real estate, business law or family law. Others do nothing but estate work. Neither approach is automatically better, but someone who spends most of their time on trusts, wills and probate is more likely to be current on changes to tax law and state-specific rules than someone who handles an estate plan once or twice a month.

Contact

It is also worth asking who will actually be doing the work.

At some firms, the attorney you meet during the initial consultation hands the drafting off to a junior associate or paralegal. That is not necessarily a problem, but you should know who is writing your documents and how much experience they have. If you are paying for a senior attorney’s judgment, you want to know that person is the one reviewing the final product.

Updates

Find out how they handle changes down the road. Estate plans need to be updated when laws change, when family circumstances shift or when your financial picture looks different from what it did a few years ago.

Some attorneys will reach out when relevant laws are updated. Others expect you to initiate contact. Asking about the process and cost for future revisions gives you a sense of whether this will be an ongoing relationship or a one-time transaction.

Collaboration

Ask whether they are comfortable working with other professionals. Your financial advisor, accountant and insurance agent may all play a role in your broader estate plan, and the attorney should be willing to coordinate with them.

If they seem resistant to outside input or insist on handling everything in-house, that can be a sign that collaboration is not a priority. Estate planning works best when everyone involved in your financial life is working from the same page, and the attorney should be someone who makes that easier, not harder.

Bottom Line

Planning your estate is a complex endeavor requiring many tough decisions. An estate planning attorney can help you determine the estate plan that makes the most sense for your unique situation. With the help of a qualified professional, you can go into the estate planning process with confidence. In doing so, you can ensure the security of your loved ones even after you are gone.

Tips for Planning Your Estate

• To maximize the legacy you leave to your heirs, you’ll need a comprehensive financial plan and investing strategy. A financial advisor can help you with both. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• It’s never pleasant to think about, but there may come a time when you’re unable to make decisions for yourself. For these scenarios, a living will or another form of advance directive can help ensure your family knows your wishes.

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