The Differences in Various Estate Law Attorney Specialties Explained

Estate Planning Attorney

An estate planning attorney helps establish plans that address your affairs’ most crucial aspects. They also provide ongoing guidance and reviews regarding the estate plan. Typically, estate planning attorneys advise all adults, particularly those with loved ones they wish to support, to establish an estate plan. estate planning attorneys Have many roles, including:

• Establishing the person appointed to care for minor children.
• Advising on ways to reduce taxes on the estate
• Help you establish beneficiaries and structure their inheritances to meet their needs
• Recording the location of crucial estate planning documents
• Discussing the possible advantages of a trust for your unique situation 
• Setting up a POA and structure who will act on your behalf if you cannot make or communicate health and financial decisions
• Documenting end-of-life care preferences

Efficient estate planning can reduce the duration of the probate process, facilitating quicker access to your assets for your loved ones. While an estate plan may only partially eradicate the need for probate, lacking one means your money and property will be distributed according to state law, potentially diverging from your intended wishes.

Probate Attorney

A probate attorney assists your loved ones in managing the estate or trust administration process and guides them through the legal procedures. A probate attorney can act on behalf of the representative responsible for resolving financial matters and executing last wishes. Further, a probate attorney can advocate for beneficiaries during probate court. Some common duties a probate attorney performs include:

• Collecting life insurance proceeds
• Locating your will
• Identifying an inventory of assets
• Providing legal advice about their client’s rights and responsibilities
• Managing the probate estate’s finances
• Overseeing appraisals for all properties
• Making sure the executor pays outstanding debts and taxes,
• Preparing and filling crucial court documents
• Retitling property as needed
• Transferring property to beneficiaries

Trust Administration Attorney

A trust administration attorney assists a trustee in administering a trust. Since trusts are not subject to probate, they offer a swift and private distribution of their assets and properties. Nonetheless, trustees might require support in fulfilling their legal responsibilities. Here are some situations in which a trust attorney is most likely needed:

• Examining the trust document and relevant law to guide the trustee in executing necessary legal obligations, including tasks like maintaining records, filing taxes, distributing assets, and meeting fiduciary duties 
• Drafting legal documents necessary for the transfer of ownership of the trust’s assets and properties
• Recognizing and addressing potential concerns, such as conflicts of interest or undue influence from beneficiaries on the trustee
• Helping a trust beneficiary assert their rights

We Are Your Team

Our attorneys here at Law Stein Anderson specialize in various aspects of estate law, including estate planning, probate, and trust administration. Our estate planning attorneys help clients craft comprehensive plans tailored to their unique needs and goals. In times of loss, our probate attorneys help families through the legal intricacies of settling an estate. Further, our trust administration attorneys provide expertise in managing trusts, fulfilling legal obligations, and overseeing asset transfers. If you’d like help from a caring team of experts, contact Law Stein Anderson to schedule your consultation!