Trust & Estate Law Attorneys
What is trust and estate law?
Estate law, a subsection of property law, governs the handling of an individual’s estate. The term “estate” means all an individual’s belongings, real estate, intangible assets like copyrights and debts. As such, estate law is a broad and complex area of law that overlaps extensively with wills and trusts, estate planning, family law and other relevant legal matters.
Probate is the court-supervised process of proving a will and administering an estate after the person’s death. The goal of probate is to make sure property and possessions are given to the right people and that taxes and debts are paid properly.
What do trust and estate attorneys do?
Trust and estate attorneys represent clients in planning and administering their estates, as well as in disputes regarding the validity or legality of estate planning documents. An estate law attorney may:
- Help clients draft estate planning documents, such as a last will and testament
- Establish and administer trusts
- Advise on retirement plans, life insurance and charitable contributions
- Arrange and organize the transfer of assets
- Help clients choose personal representatives, powers of attorney and trustees
- Advise on potential tax consequences of estate planning decisions
- Represent clients and their families in contested estate law matters
How much do trust and estate attorneys cost?
Many attorneys will draft simple wills, powers of attorney, and other routine matters for relatively low flat fees. For more complex estate plans and probate matters, experienced attorneys usually charge an hourly fee, which may range from $250 to $350 per hour. Some attorneys may ask for an advance deposit (a retainer) to handle ongoing estate work, such as managing a trust. In some states, attorneys handling probate matters can charge a certain percentage of the gross value of the probate estate as their fee.
How do I choose the right trust and estate attorney?
Estate law is quite complex and state-specific, and the relevant laws change frequently. As such, a good estate law attorney should be familiar with the laws in your jurisdiction, as well as the probate courts and judges. An effective estate law attorney is a good listener who seeks to understand your needs and arrange your affairs in a way that best reflects your wishes.
Most trust and estate attorneys offer a free consultation, typically half an hour to an hour. This is a good opportunity to discuss your overall situation, ask questions about how the lawyer will handle your case, and decide whether there is a good fit. The key is to think through your big-picture goals and assess attorneys based on whether they have the experience, track record and skillset to achieve those goals.
