How to Be Estate Planning Lawyer - Job Description, Skills, and Interview Questions

Jun 8, 2020 / 5 Minutes Read / By Albert

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Having an estate planning lawyer is essential for anyone with property and assets. An estate planning lawyer can help ensure that your wishes are followed when you pass away by crafting an estate plan that details your wishes. This plan can include a will, trust, power of attorney, and other documents that designate who will inherit your property and how it will be managed.

An estate planning lawyer is also able to provide advice and guidance on the best course of action for your particular situation, taking into account tax implications, family dynamics, and other important factors. With their help, you can rest assured that your assets will be distributed according to your wishes after you pass away.

Steps How to Become

Obtain a Bachelor's Degree. The first step to becoming an Estate Planning Lawyer is to obtain a bachelor's degree from an accredited college or university. Most law schools require applicants to have a bachelor's degree in any field of study.
Take the Law School Admissions Test (LSAT). To be accepted into a law school, you must take and pass the Law School Admissions Test (LSAT). This test is administered four times a year and is designed to measure your reading comprehension, logical reasoning, and analytical skills.
Attend Law School. Once you have passed the LSAT and have been accepted into a law school, you will need to complete a three-year program of study. During this time, you will take courses such as Contracts, Constitutional Law, Civil Procedure, and Property Law, as well as specialized courses in Estate Planning.
Pass the Bar Exam. After completing your law school education, you will need to pass the bar exam in the state where you plan to practice. This exam tests your knowledge of state laws and regulations.
Obtain Specialty Certification. To become an Estate Planning Lawyer, you may choose to obtain specialty certification from the American College of Trust and Estate Counsel (ACTEC). This certification requires that you demonstrate competency in the areas of estate planning, trust law, taxation, and related fields.
Obtain Professional Experience. After passing the bar exam and obtaining specialty certification, you will need to gain professional experience in Estate Planning. This can be accomplished by working for an established firm or as an independent practitioner.

Estate planning is a complex and evolving area of the law, requiring an attorney to stay abreast of the latest developments to ensure the most effective results for their clients. An efficient estate planning lawyer must stay informed of relevant changes in the law, review case decisions, attend continuing legal education courses, and use the latest technology to keep their practice up-to-date. By staying current on the latest legal developments and utilizing modern tools, an estate planning lawyer can effectively help their clients identify and protect their interests, while also reducing the time and costs associated with the planning process.

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Job Description

Estate Planning Attorney
Trusts and Estates Attorney
Estate Planning Lawyer
Probate Lawyer
Tax Lawyer
Elder Law Attorney
Asset Protection Attorney
Charitable Planning Attorney
Business Succession Planning Attorney
Medicaid Planning Attorney

Skills and Competencies to Have

Extensive knowledge of estate planning laws and regulations
Proficiency in financial planning, tax law and accounting principles
Ability to explain complex legal concepts in plain language
Excellent communication and interpersonal skills
Ability to negotiate and draft estate planning documents
Ability to work with a diverse clientele
Understanding of trusts, wills, gift taxation and charitable giving
Knowledge of probate and estate administration procedures
Ability to manage multiple projects and prioritize tasks
Familiarity with computer software programs such as Microsoft Office Suite
Detail-oriented and organized
Ability to interpret financial data
Commitment to the highest ethical standards

Estate planning is a complex and often challenging process, but having a skilled estate planning lawyer can make it much easier. A good estate planning lawyer should possess a wide range of skills, including knowledge of tax laws, an understanding of the client's financial situation, and the ability to provide sound legal advice. they should have an understanding of the various assets and liabilities that may be involved in the estate plan and be able to craft a plan that optimizes the tax advantages while protecting the interests of the client.

Furthermore, they should have experience in dealing with probate courts and in working with other professionals, such as accountants and financial advisors. By having a knowledgeable estate planning lawyer, clients can ensure that their wishes are fulfilled in a way that best serves them and their family.

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Frequent Interview Questions

What types of estate planning services do you provide?
How long have you been practicing estate planning law?
What experience do you have in drafting wills and trusts?
Are you familiar with probate laws and procedures?
How do you stay current on changes to estate planning laws?
How would you advise a client on structuring an estate plan?
What strategies do you use to minimize estate taxes?
Do you have any experience with special needs trusts and guardianships?
What strategies do you recommend for protecting assets from creditors?
What is your approach to resolving disputes between beneficiaries or trustees?

Common Tools in Industry

Wills. Legal documents that dictate how an individual's estate is to be distributed upon their death. (eg: John made a will leaving his house to his daughter upon his death. )
Trusts. Legal entities that include a designated trustee to manage and distribute assets according to the trustor's wishes. (eg: Mary created a trust to provide for her grandchildren's college education. )
Power of Attorney. A legal document that grants an individual the authority to act on behalf of another person. (eg: Jane gave her brother power of attorney so he could manage her financial affairs while she was overseas. )
Estate Tax Planning. Strategies used to reduce the amount of estate taxes owed upon death. (eg: Bob used estate tax planning to minimize the amount of taxes due on his estate when he passed away. )
Probate. The legal process of administering a deceased individual's estate. (eg: The probate court approved the distribution of the assets according to the deceased's will. )
Living Will. A legal document that states an individual's wishes regarding medical treatment should they become incapacitated. (eg: Sarah wrote a living will so her family would know her wishes if she became unable to make medical decisions on her own. )

Professional Organizations to Know

American College of Trust and Estate Counsel (ACTEC)
National Academy of Elder Law Attorneys (NAELA)
American Bar Association (ABA)
National Association of Estate Planners & Councils (NAEPC)
Society of Trust and Estate Practitioners (STEP)
American Academy of Estate Planning Attorneys (AAEPA)
The Planned Giving Design Center (PGDC)
The WealthCounsel Companies
AARP
The American Society of Tax Problem Solvers (ASTPS)

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Common Important Terms

Last Will and Testament. A document that outlines how an individual's assets are to be distributed upon his or her death.
Trusts. A legal arrangement in which a third party, known as the trustee, holds and manages assets on behalf of the beneficiaries.
Estate Tax. A tax imposed on the transfer of an individual's estate to their heirs upon their death.
Probate. The legal process of validating a deceased individual's will and distributing their assets.
Power of Attorney. A legal document that grants another person the authority to make decisions on behalf of another individual.
Guardianship. A legal process in which an adult is appointed to manage the affairs of a minor or incapacitated person.
Charitable Trusts. A trust set up to benefit a charitable organization.
Gifting. The transfer of ownership of an asset from one person to another without any form of compensation.

Frequently Asked Questions

What is Estate Planning?

Estate planning is the process of organizing and arranging a person's assets and finances in order to maximize their value and provide for their family after death. It typically involves creating a will or trust, power of attorney documents, and other legal documents.

What is the Role of an Estate Planning Lawyer?

An estate planning lawyer is an attorney that specializes in helping people plan for the future by creating legally binding documents that ensure their assets are distributed according to their wishes. They can also help to minimize tax obligations and provide guidance on how to best protect the assets of their clients.

How Can an Estate Planning Lawyer Help Me?

An estate planning lawyer can help you by creating a comprehensive estate plan that takes into account your individual circumstances, goals, and wishes. They can help you create a will, trust, power of attorney documents, and other legal documents that will help ensure that your assets are distributed as you have intended.

What Documents Does an Estate Planning Lawyer Create?

An estate planning lawyer can create a variety of documents such as a will, trust, power of attorney documents, health care proxy, living will, and other legal documents to help ensure that your wishes are carried out and that your assets are distributed according to your wishes.

How Much Does an Estate Planning Lawyer Cost?

The cost of an estate planning lawyer varies depending on the complexity of the estate plan and the services provided. Generally speaking, estate planning lawyers charge an hourly rate or a flat fee for their services.

Web Resources

Estate Planning | University of Miami School of Law - law.miami.edu www.law.miami.edu
estate planning | Wex | US Law | LII / Legal Information Institute www.law.cornell.edu
Estate Planning | OU Law www.law.ou.edu