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Need To Hire an Estate Planning Attorney For Making Estate Plans?



Need To Hire an Estate Planning Attorney For Making Estate Plans?

Making an estate plan is essential as it allows you to prepare for what happens to your property and assets if you pass away or if you are not able to look after yourself and the property. Hiring an estate planning lawyer can help you in creating a strong plan for dealing with both these situations. They can provide legal advice on wills, trusts, and local probate procedures and draft standard estate planning documents.

The Law Office of Troy M. Moore PLLC is the best law firm that has been helping clients in planning for the future through wills and trusts, buying and selling real estate, and the probate of an estate for 19 years. Troy Moore is their best Houston estate planning lawyerwho is proactive in dealing with the probate process. The firm’s core practice areas under estate plans are Probate & Administration, Heirship and Intestacy, Small Estate Affidavit, and Beneficiary Interpleader Litigation. Schedule a consultation with them for a customized estate plan tailored according to your needs.

What is the job of an estate planning attorney?

An estate planning attorney specializes in dealing with matters related to transferring your assets after death. They assist you in drafting documentation and planning so that your assets go to deserving beneficiaries without paying any huge tax bills and struggling with court battles. They review your situation and assist you in creating or updating your estate plan that aligns according to your wishes.

Here are some things they do:

  • Preparing a testament and the last will.
  • Choosing beneficiaries.
  • Help in creating a living trust.
  • Appoint guardians for your kids.
  • Transferring assets into your trusts and managing them.
  • Helping with wealth transfers and tax planning.
  • Handling power of attorney for medical or financial decisions.

Searching and hiring an estate planning lawyer

This might seem a daunting task but the following steps might help you.

Making a list of potential lawyers

Ensure you hire an attorney who specializes in estate planning and laws.

  • Take referrals from friends and family, financial advisors, or accountants.
  • The county, local, or state bar associations.
  • Local courts for probate.
  • Check their online reviews for a better understanding.

Look for certifications and designations

You can find expert estate planning lawyers by looking for certifications and designations like:

  • Accredited estate planner
  • Chartered trust and estate planner
  • Qualified trust and financial advisor.

Some states also provide extra certificates.

Charges of an estate planning attorney

Depending on what you need, where you live, and who you hire, the charges of an estate planning attorney can change. Some lawyers may charge project fees for simple estate planning paperwork, while others might charge on an hourly basis. You can get in touch with numerous lawyers to enquire about their fees and inclusions.

Check the fees charged by other lawyers for better knowledge. Ensure you understand everything before paying for the services. Be specific about the timeline you require from the lawyer so there are no misunderstandings about when you will require their services.

The process becomes easier with a satisfying outcome when you hire an estate planning attorney who is a perfect fit for you. However, consider the lawyer’s experience, field, charges, and good reviews.



Buying Land For The First Time? 4 Mistakes To Avoid



Buying Land For The First Time? 4 Mistakes To Avoid

Whether planning to build commercial buildings, rentals, or your dream home, buying land can be exciting yet overwhelming. The buying process may seem easy and seamless, but it requires careful consideration to avoid making a lifetime mistake.

Land buying requires extensive research to find the best land rates and location that fits your needs. Unfortunately, many first-timers fail in this area, buying unproductive lands or areas with low security, and some even fall victim to fraud.

If you’re a first-timer looking to purchase land, here are four mistakes to avoid:

  • Skimping On Research

The first mistake many first-time land buyers make is skimping on research. You must conduct thorough research to understand the current market valuations and to make informed decisions.  Here are some of the reasons why research is crucial for your investment scheme:

  • Understand Market Value

One of the most important reasons why research is crucial is that it helps you understand whether or not you’re getting a fair price. It’ll help you understand the various factors affecting the land value too, such as the location and property age. From there, you can estimate the price and create a reasonable budget.

  • Choose The Best Location

The location of the land is crucial, especially when you have kids or when building rentals and commercial buildings. For one, you must choose land with access to roads, electricity, water, and other facilities, such as hospitals and schools. And researching will help you get the precise location that fits these needs.

  • Identify Potential Hazards

If the land you want to purchase faces significant concerns, like legal disputes and environmental problems, researching will help you spot it. You’ll find articles about such disagreements, and you can conclude to help you make informed decisions.

  • Understand Zoning And Land-Use Regulations

Land-use and zoning regulations dictate how you can use land in specific areas. There are areas where only commercial buildings are allowed, while others only allow residential ones. Therefore, researching will help you determine the best zone that suits your intentions.

  • Evaluate The Developer’s Credibility

Research helps you evaluate the seller’s credibility as well. You can check if they’re authorized operators with an operating license. Plus, you can examine if they have a good record by reading reviews from other clients. 

Generally, research will help you understand how to choose land for your home that suits your requirements to help you avoid costly mistakes and make sound decisions.

  • Underestimating Your Expenses

Another mistake most first-time land buyers make is underestimating their expenses. There’s more to buying land than making the downpayment for the real estate deal. There are other hidden costs associated with land buying, such as closing costs, land clearing or site preparations, utilities-associated costs, property taxes, and zoning fees. Understand your expenses and make reasonable adjustments to your budget to avoid surprises.

  • Not Hiring Qualified Professionals

As mentioned, buying land can be overwhelming, especially for first-time buyers. You need the proper documentation and know your way around the buying process, which is impossible if you’ve never purchased one.

Therefore, hiring qualified professionals is an excellent approach for better investments. They’ll help you with legal protection, property inspection, and expertise. Here’s a list of the experts you need to get your money’s worth:

  • Realtor: The law allows you to buy land yourself. But it’s not advisable for first-timers like you. Hire a real estate agent as they better understand the market, have access to the off-book listings, negotiation skills, and legal access. 
  • Real estate attorney: You can buy land without an attorney too, yet you’ll need one for legal advice, dispute resolution, and contract review.
  • Environmental Consultant: When buying land in areas that have environmental concerns due to industrial activities, it’s crucial to have an environmental consultant inspect them before buying for compliance with applicable regulations.
  • Surveyor: A surveyor will help you determine land boundaries when they’re unclear. Further, they’ll prepare a survey document you can use once you purchase the land.

These professionals will help you avoid the common mistakes, and pitfalls investors fall into when buying land. However, the expertise you need will depend on the purpose of the land. For instance, you may need an architect if you plan to erect a building, but you won’t need one for an irrigation scheme.

  • Visiting The Site Only Once

Another major mistake first-timers make when buying land is conducting a single site visit. One visit isn’t enough to assure you about the land’s condition. Ensure you revisit the land several times to gather information about the location and the utilities available in the area.

In addition, several visits will allow you to interact with the neighbors who can offer insider insights to help you negotiate better deals. They’re likely to know the owner, and such information will keep you safe from fraudsters.

Conclusion Generally, purchasing land for the first time can be daunting, especially when you don’t hire experienced professionals. It’s vital to research adequately to avoid making the common mistakes many first-timers make. Follow the guidelines highlighted in this discussion to make sound decisions and avoid unnecessary costs.

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