An Extensive Guide to Becoming an Estate Planning Specialist Attorney

After earning a law degree, there are several opportunities to focus on a particular area of study. It’s possible that you’ve heard of estate planning and have thought about becoming an estate planning lawyer. What does it mean, and how does one go about becoming one? This extensive guide will help you become acquainted with additional necessary tools and estate planning research resources.

What Function Do Estate Attorneys Serve?

Attorneys who specialize in estate planning, commonly known as estate lawyers, help clients prepare how their assets will be managed in the case of a disability or death. You must possess a high level of specialized expertise to succeed in this role. In addition to understanding the laws regulating estate planning in their particular jurisdiction, an experienced estate lawyer must consider the unique assets and circumstances of each client to develop a personalized strategy.

The job is hard and needs a wide range of duties and tasks to be accomplished every day. The following tasks can be helped by estate planning attorneys:

• completing tax returns and distributing assets to relatives.
• making a donation to a nonprofit.
• selecting a life insurance policy that is permanent.
• Formulating a Wealth Management Strategy
• putting together and obtaining the required documentation as part of a thorough asset management plan for the client that will assist beneficiaries in avoiding the probate court process following the client’s death.
• procedure for appraising properties.
• supervising and monitoring every asset
• creating a strategy for paying off debt.
• granting children a power of attorney and long-term guardianship
• submitting the required documentation to the court.

Is Certification Necessary to Practice Estate Planning Law?

The official reaction is unfavorable. There is no qualification needed for an estate planning specialist lawyer. Acquiring a law degree will improve your capacity to offer estate planning services more successfully. Obtaining certification improves your standing with prospective customers and gives you access to valuable extra information.

To become a certified estate planning lawyer, one might follow several different routes. Every choice has certain benefits. That being said, it is up to you to decide which one best fits your needs and goals. The options for certification are as follows:

A person who has earned the required accreditation to offer services to wealthy clients is known as a Chartered Trust and Estate Planner (CTEP). The Global Academy of Finance & Management is in charge of creating qualifying standards and awarding certifications. Completing a bachelor’s or master’s degree program at an accredited university in accounting, law, finance, financial planning, or tax services is required for this.

In order to become a Certified Trusted Estate Planner (CTEP), candidates must demonstrate a minimum of three years of professional experience and a particular degree of estate planning skill. CTEPs usually help with asset division, trust-building, investment account management, and asset organization when working with wealthy clients.

Accredited Estate Planner (AEP) certified individuals are recognized by the National Association of Estate Planners & Councils. A degree in accounting or law is required, as is at least five years of estate planning experience, in order to get the certification. Similar to CTEP certification, AEP certification requires a set amount of continuous study hours. Licensed Estate Planners offer complete estate planning services to both middle-class and wealthy clients by providing professional knowledge in this area.

The credential of Certified Trust and Fiduciary Advisor (CTFA) is granted to members of the American Bankers Association. It is necessary to have completed a special education course, have three years of professional experience, and pass an associated test.

Additionally, an attorney may find other estate planning credentials useful. The qualifications include asset management, taxation, and finance accreditation.

How to Become an Attorney Specialized in Estate Planning

As previously said, there are several ways to become an estate planning lawyer. There are alternative ways to complete the prerequisites for obtaining experience and certifications to specialize in estate planning, even if your degree program has already begun. Most people follow a regular routine.

Get Your Degree

First and foremost, concentrate on finishing your college degree. It can be in finance, accounting, law, or a similar subject.

Obtain Knowledge From Professionals

After graduating, look for an internship or entry-level job with an estate planning lawyer.

Make a law school application.

It is necessary to enroll in law school to take the LSAT. This takes several years to complete.

Go Over Barriers

It is necessary to pass the bar exam to practice law. You will be able to work in the estate planning industry after graduation, although it is advised that you pursue further education.

Go for Getting Uncommon Certifications

A specific estate planning certification such as CTEP, AEP, or CTFA can help you advance your knowledge in this area. To expand their expertise, attorneys have access to a variety of internet tools. Users can prepare for certification examinations or enhance their abilities by using platforms like CEB. Those who want to practice estate planning law may find the following additional materials helpful:

Estate law practice demands a high level of specialized knowledge and proficiency. It is usually advantageous to support this argument with proof if one has training or experience in tax, business, or accounting law. It’s not always required to have another degree. To demonstrate that you have the necessary knowledge to support your clients, you may choose to enrol in specific courses or obtain pertinent certifications.

Estate lawyers typically represent wealthy people, investors, or those with substantial assets. As a result, a lot of estate law companies also provide other services like wealth management, bookkeeping, financial advising, or knowledge of trusts and investments. Additional fields of study that you could select to become an estate lawyer.

Use CEB to Obtain Student Legal Aid

You must pursue more education if you want to work as an estate planning attorney. When it comes to increasing knowledge, getting ready for certification, or fulfilling obligations for continual learning, CEB is a vital resource. We have been taking care of California attorneys’ continuing education needs since 1947. Through the provision of several resources, such as online courses, legal periodicals, and extensive databases, CEB seeks to support California attorneys in expanding their expertise and boosting client service. To find out more about the resources offered by CEB, visit our website.