A real estate planning attorney is an attorney who provides legal advice to clients with assets that must be managed in the event of their death or incapacity. This includes the release or granting of these assets to their heirs and the payment of the appropriate estate taxes to the State.
Estate Law Attorneys: Basic Responsibilities
Estate planning attorneys are responsible for the determination of specific distribution of their client's estate to their heirs. They are also the most knowledgeable people who can give advice to clients who plan to set up a trust where assets are saved and reserved for a specific beneficiary. These law practitioners draft wills and other documents that revolve around trusts and estate planning.
Estate planning lawyers can help you understand the laws governing retirement plans and insurance. They can also help with trusts, estate plans, and other related matters that require court litigation. A skilled estate lawyer must have a thorough knowledge of the laws governing property, trust, wills, as well as federal and state tax laws.
There are two types of estate law attorneys: the transactional and litigation real estate attorneys. Transactional attorneys are responsible for reviewing documents and negotiating terms on behalf of clients. A litigation attorney, on the other side, is responsible for resolving legal issues in real estate transactions.