A Complete Guide to Becoming an Estate Planning Specialist Lawyer

After receiving a legal degree, there are several opportunities to focus on a particular area of study. You probably know what estate planning is and have thought about becoming an estate planning lawyer. What does it mean to be one, and how does one become one? After reading this thorough guide, you will become more acquainted with additional tools and resources for estate planning research.

What Part Do Attorneys for Estates Play?

Attorneys who specialize in estate planning, or estate lawyers, help clients organize how their assets will be managed in the case of an incapacity or death. In order to succeed in this role, you must possess a high degree of specialized skill. To build a tailored estate plan, a knowledgeable estate lawyer needs to consider the laws regulating estate planning in their own country and each client’s unique assets and circumstances.

The task is hard, requiring a wide range of daily responsibilities to be completed. The following are some duties that estate planning attorneys can help with:

  • Choosing a permanent life insurance policy
  • Paying taxes
  • Distributing assets to family
  • Making charitable contributions

Formulating a Wealth Management Plan

Assembling and obtaining the required documentation as part of a comprehensive asset management plan for the client that will assist beneficiaries in avoiding the probate court process following the client’s passing. This includes the process for property appraisals, overseeing and monitoring each asset, creating a plan for debt repayment, granting guardianship and a lifelong power of attorney to children, and supplying the court with the required documentation.

Is Certification Needed for Attorney Estate Planning?

The official reaction is not encouraging. There are no prerequisites for an attorney with estate planning expertise. Having a legal degree will make you more qualified to offer estate planning services. Obtaining certification enhances your reputation with prospective customers and gives you access to valuable extra information.

A qualified estate planning attorney may choose to work in a variety of fields. Every choice has benefits. However, you must decide which best meets your needs and goals. The choices for certification are as follows:

A person with the required accreditation to offer services to wealthy clients is a Chartered Trust and Estate Planner (CTEP). The Global Academy of Finance & Management is the body responsible for setting certification standards and prerequisites. To achieve this, you must finish a bachelor’s or master’s degree program at an accredited university in accounting, law, finance, financial planning, or tax services.

Becoming a Certified Trusted Estate Planner (CTEP) requires a minimum of three years of professional experience as well as a certain degree of estate planning knowledge. When working with wealthy customers, CTEPs usually help with asset division, asset organization, investment account administration, and trust-building.

The Accredited Estate Planner (AEP) credential is recognized by the National Association of Estate Planners & Councils. To be eligible for the certification, a degree in accounting or law and at least five years of experience with estate planning are required. Like CTEP certification, AEP certification includes a set number of hours that must be completed in continuous study. Licensed Estate Planners offer middle-class and wealthy clients comprehensive estate planning services and have vast experience in this industry.

Members of the American Bankers Association are awarded the Certified Trust and Fiduciary Advisor (CTFA) designation. Prerequisites include passing a relevant test, finishing a special education course, and having three years of work experience.

Additional certificates in estate planning may also benefit a lawyer. Among the prerequisites are accreditation in asset management, taxation, and finance.

How to Concentrate in Estate Planning and Become a Lawyer

As was already noted, there are several ways to become an estate planning attorney. There are still ways to complete the prerequisites for earning the experience and certifications needed to specialize in estate planning, even if your degree program has already begun. Most people follow a regular schedule.

Get a Degree

Your college degree should be your primary priority. It could be in finance, law, accounting, or a similar industry.

Obtain Knowledge From Professionals

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

Send in a Law School Application

To take the LSAT, one must be enrolled in law school. It will take years to complete.

Transcend Barriers

The bar test must be passed in order to practice law. You can work in the estate planning industry after graduation, though pursuing more education is advised.

Try to Get Strange Certifications

Getting certified in estate planning with a designation like CTEP, AEP, or CTFA can help you advance your career in this field. A variety of internet sites are available for attorneys to use in order to gain more experience. Users can hone their abilities or prepare for certification tests by using sites like CEB. The following are some more materials that could be helpful to anyone who wants to practice estate planning law:

Estate law practice demands a high level of proficiency and ability. It is usually beneficial to provide evidence to support a claim of knowledge or competence in the areas of business, accounting, or tax law. Having a second degree is not usually required. You can enroll in specific courses or obtain pertinent certifications to demonstrate that you have the knowledge necessary to support your clients.

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

Use CEB to Apply for Student Legal Aid

You must complete your studies if you want to practice estate planning law. The CEB is a vital tool for learning new material, getting ready for certification, and fulfilling continuing education needs. We have been taking care of Californian attorneys’ responsibilities for continuing education since 1947. Through the provision of a range of resources, such as databases, legal publications, and online courses, the CEB seeks to support California attorneys in improving their clientele and expanding their areas of specialization. To learn more about the resources that CEB provides, visit our website.