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Should your estate planning lawyer have a financial background?

On Behalf of | May 14, 2023 | Estate Planning |

Once you decide it’s time to create an estate plan or update your old one, you need someone with the training and experience to help implement your ideas. While all estate planning attorneys must have the appropriate education and a license, that isn’t all you should look for in a representative.

Even something seemingly insignificant, like a lack of rapport between you and your counsel, could leave your estate plan wanting. To reap the most rewards from your planning efforts, consider a representative with a background in finances.

What are the benefits?

Many legal professionals undergo additional training to provide better service to their clients. For example, licensed family law practitioners often undergo mediation or collaborative law training to give their clients more options.

Since estate planning usually means juggling six or seven-figure dollar amounts, it typically pays to select a practitioner with financial training. A representative who is also a certified financial planner or advisor could add another layer of security to your estate.

Other potential advantages:

  • Identifying long-term financial goals
  • Receiving multiple services from a single professional
  • Minimizing tax burdens
  • Developing strategies to keep your assets safe
  • Helping you choose the most beneficial components of your estate plan

When put together, these two disciplines—financial and estate planning—complement one another. In turn, people can rest assured knowing their plan is as strong as possible.

What other qualities should you look for?

As with most legal issues, you want someone with patience and good communication skills. These traits can help ensure that your representative can explain New York estate planning laws patiently and from a place of practical experience.

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