Estate planning is an essential component of preparing for the future. Legal documents involved in estate planning often address all aspects of your end-of-life request. These may include a living will, probate avoidance, estate tax planning, and Medicaid asset protection. Plus, it can have the power of attorney, your will, healthcare proxy, and trusts.
Limited Power of Attorney (LPA) and Enduring Power of Attorney (EPA) are legal instruments that grant authority to another person to act on behalf of someone else. While both serve similar purposes, there are some key differences between lpa vs epa.
In order to make sure your estate planning includes the necessary details of your end-of-life request, you need to hire the best estate planning lawyer. But not all estate planning lawyer is created equal. This is why if you want to meet every Arizona estate planning checklist, you might want to consider the following tips when hiring and choosing an attorney:
- Ask Family and Friends
As far as finding the best estate planning lawyer is concerned, recommendations will be worth their weight. Trusted lawyers will surely guarantee you peace of mind. You will feel better knowing that your close friend or family member sharing the same goals and values has enlisted the services of an attorney before.
Consider using your network to shortlist lawyers who are a perfect fit. Neighbors, friends, co-workers, and family or anyone proactive, responsible, and you trust will be a helpful source of information.
- Ask Questions
Your buffet of assets might need a specific kind of lawyer. You will need one with mediation skills so as to maneuver family discussion once you pass.
It is very rare to make hiring decisions depending on an individual’s picture on websites without researching or getting to know them better.
Interviewing the attorneys on your list is a great approach to ensure you get a good attorney. You should tell when you feel at ease with a lawyer by asking some of the following questions:
- Where did you study?
- Do you focus only on estate planning?
- How often do you communicate?
- Can the process be expedited, as I am very ill?
- What level of experience do you have?
- Will there be extra fees to expect?
Lawyers focusing on estate planning are more likely to provide comprehensive advice and guidance across these different areas, ensuring each one is appropriately addressed. They invest their time, resources, and professional development in staying current with changes and updates in this particular area of law. Moreover, they have access to specialized tools, software, and resources specifically tailored to estate planning.
Asking relevant questions to your prospective lawyer can help you gauge their knowledge, experience, and ability to provide sound legal advice with regard to estate planning. Here are important queries you may consider:
- Can you explain the differences between LPA vs EPA?
- Which situations or circumstances would make an LPA more suitable than an EPA, and vice versa?
- Determine the Cost
Although cost is not among the important factors to consider when hiring an attorney, you will need to start by comparing fees before hiring one. You need to know how estate planning attorneys in Arizona charge clients and whether it is a flat or hourly rate.
When considering your lawyer’s fees, you need to determine whether or not they need a retainer for the services. A retainer refers to upfront fees you must pay your attorney before they start working.
Some estate planning lawyers offer a flat fee for specific services or packages. This means the lawyer charges a fixed amount for a particular estate planning service, such as drafting a will, creating a trust, or preparing powers of attorney. The fee depends on the complexity of the client’s estate and the scope of work.
In certain situations, an estate planning lawyer may charge a percentage of the client’s estate as their fee. This arrangement is less common and is usually reserved for high-value estates.
This often shows you are stable financially to hire an attorney. But it can be financially difficult if you pay upfront. So comparing the costs before hiring your lawyer can ensure you get someone who will meet your budget and needs.
In a Nutshell!
Estate planning is a complex endeavor with many decisions to make. A good estate planning lawyer in Arizona may help determine a great place that makes more sense for your situation. With an attorney’s help, you can confidently go into estate planning steps.
