A Will is a written document, generally prepared with the help of an attorney (although not essential), that provides instructions for the disposition of a decedent's (dead person's) property.
The term "Last Will and Testament" is simply a more complicated name for a Will.
The personal representative or executor of the will has the responsibility of executing the will and distributing the assets of the deceased according to the will.
A wills and estate attorney is one who can draft the will and guide the personal representative or executor in the execution of the will including: ·Locating and securing both probate and non probate assets ·Obtaining date of death values and appraisals of all of the decedent's property ·Collecting life insurance proceeds ·Rolling over and making appropriate elections with regard to retirement plans, including IRAs and 401(k)s ·Advising on the payment of the decedent's final bills and outstanding debts ·Keeping track of the estate checking account ·Determining if any estate and gift taxes will be due and, if so, then figuring out where the cash will come from to pay the taxes ·Addressing income tax issues ·Settling disputes among Personal Representatives/Executors and beneficiaries ·Assisting with the sale of estate property ·Requesting court permission for various actions as required by applicable state probate laws ·Retitling the decedent's assets into the names of the estate beneficiaries ·Preparing and filing all documents required by the probate court in a timely manner A probate process can throw up complicated situations like tax problems and disputes, ambiguities in the wording of the Will, appointment of guardian for minors, etc.
A wills and estate lawyer can take care of such situations and advise clients on getting their affairs in order to prepare for the possibility of mental disability and eventual death.
There are no special qualifications for becoming a wills and estate lawyer.
Like all lawyers, a wills and estate lawyer must have a JD degree from an American Bar Association accredited law school and must have cleared the state bar exam.
Before a wills and estate lawyer can practice in a state, he must pass the state bar exam.
A wills and estate lawyer should be well versed in the state laws that govern probate, Last Will and Testaments, and trusts Generally speaking, there are basically two types of wills and estate lawyers: those who handle the administrative side of probates and those who represent clients in fights over who gets the estate.
Some lawyers do both, but most of them tend to specialize in one area or the other.
The term "Last Will and Testament" is simply a more complicated name for a Will.
The personal representative or executor of the will has the responsibility of executing the will and distributing the assets of the deceased according to the will.
A wills and estate attorney is one who can draft the will and guide the personal representative or executor in the execution of the will including: ·Locating and securing both probate and non probate assets ·Obtaining date of death values and appraisals of all of the decedent's property ·Collecting life insurance proceeds ·Rolling over and making appropriate elections with regard to retirement plans, including IRAs and 401(k)s ·Advising on the payment of the decedent's final bills and outstanding debts ·Keeping track of the estate checking account ·Determining if any estate and gift taxes will be due and, if so, then figuring out where the cash will come from to pay the taxes ·Addressing income tax issues ·Settling disputes among Personal Representatives/Executors and beneficiaries ·Assisting with the sale of estate property ·Requesting court permission for various actions as required by applicable state probate laws ·Retitling the decedent's assets into the names of the estate beneficiaries ·Preparing and filing all documents required by the probate court in a timely manner A probate process can throw up complicated situations like tax problems and disputes, ambiguities in the wording of the Will, appointment of guardian for minors, etc.
A wills and estate lawyer can take care of such situations and advise clients on getting their affairs in order to prepare for the possibility of mental disability and eventual death.
There are no special qualifications for becoming a wills and estate lawyer.
Like all lawyers, a wills and estate lawyer must have a JD degree from an American Bar Association accredited law school and must have cleared the state bar exam.
Before a wills and estate lawyer can practice in a state, he must pass the state bar exam.
A wills and estate lawyer should be well versed in the state laws that govern probate, Last Will and Testaments, and trusts Generally speaking, there are basically two types of wills and estate lawyers: those who handle the administrative side of probates and those who represent clients in fights over who gets the estate.
Some lawyers do both, but most of them tend to specialize in one area or the other.