Many people don’t like to think about estate planning. It makes folks think about their own passing, which is not something that most people wish to dwell on. But there is a bigger view to consider. Estate planning not only ensures that your assets are disposed of the way you want them to be, but it also can make many financial decisions easier for you as time goes on. Good estate planners will also help you build wealth.
Estate Planner Job Description
A competent estate planner’s principal job is to prepare documents that govern the effective management of a client’s assets base as part of their will if they were to become incapacitated or when they die. Most estate planners are also attorneys with expertise in estate law because this subject area is governed by complexities and legal statutes.
Typically, an estate planner will interview the client to learn more about their future wishes, their current personal financial situation, and any other particulars that need to be considered. Then, he or she will draw up a set of legally binding documents such as a will, a trust, and others to ensure that the client’s wishes will be fulfilled in an orderly manner.
Beware of Estate Planning Pretenders
As in so many other professions, there are scammers and pretenders that prey on unsuspecting people. Unfortunately, unscrupulous individuals are always attracted to situations involving money and assets.
Some of the common ways by which fraudulent individuals con the unsuspecting public is to over-hype their success stories, make exaggerated claims, and misrepresent their credentials. It is always important to thoroughly check out a prospective estate planner before working with them. One of the best ways to do this is by referral from a friend or family member.
Avoid Planning Mistakes
A skilled estate planner will help you not make major financial or legal errors with your estate. The principal way that estates are mismanaged is by having no plan at all. Secondly, mistakes can be made when emotions become involved. Thirdly, mistakes can be encountered when the knowledge of the legal complexities involved in estate planning is not taken into consideration. All of these mistakes can be avoided by partnering with a competent Maryland estate planning attorney.
What Makes for a Good Estate Planner?
That brings us to the next concern: What are the qualities of an excellent estate planner? Here is a set of qualities that you’ll want to have in any estate planner that you work with:
- Certifications as an attorney in Maryland
- Competence in estate planning law
- Continuing education, competence, and a thorough knowledge of the field
- Excellent interpersonal skills, and
- An easy ability to anticipate future event possibilities in the client’s life
Connect with the Best
The best estate planners have two things in common. They are people with professional integrity and they put their clients first. Their own motivations regarding earning their own living, although important, always come after those first two qualities.
In addition, the best of the best have knowledge, competence, and proven track record as indicated by numerous satisfied clients. They generally utilize the same principles in their own estate planning as they recommend for their client base.
As you move forward with the evaluation of working with an estate planning attorney, you’ll want to interview your top prospects. Prepare a list of questions ahead of time and make sure the answers that you receive resonate with you in a positive way. A good candidate will be happy to inform you where they were educated and how long they have been an estate planner. They will be able to provide you with a list of happy clients as well.