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Important Things to Know About Real Estate Lawyers in Houston

Real estate lawyers are individuals who provide legal advice to their clients who own assets that require being managed in the event of their death or incapacitation. They are responsible for granting assets to heirs and paying necessary estate taxes to the state.

Estate planning attorneys have three primary roles; determining the specific distribution of a client’s estate to their heirs, setting up a trust where assets are saved and reserved for specific beneficiaries, and drafting wills and other documents that are associated with estate planning and trusts. They also provide insight to individuals on retirement plans and life insurance laws.

There are two types of estate law attorneys; transactional real estate and litigation real estate. Transactional real estate attorneys prepare documents, review documents, negotiate terms and perform other tasks to get things done for their clients. Litigation real estate attorneys work towards resolving real estate transactions which have legal impediments in court. This then implies that the best real estate lawyer is one who has detailed knowledge of property, wills, trusts, state and federal laws.

The purpose of estate planning is to ensure that a person’s assets and final wishes are carried precisely how they wanted. If you own assets, property, or holdings and have never had any children or have kids under the age of 15, or want to leave part of their estate to charity, real estate planning should the kind of things that interests you. It is also perfect for persons who own businesses or whose assets are distributed among states. Failure to plan your estate can cause a loss of wealth.

Before hiring a real estate attorney, there are four things that you must review first. One, how long the law firm you intend to work with has been practicing as estate attorneys. It is advisable that you engage law firms with over ten years of experience in estate law. If an estate lawyer is referred to as a ‘super lawyer’ in the field, then just know that he or she is recognized as outstanding.

Two, the price to pay for the whole process. Ensure that there is a clear understanding between you and the law firm on all fees to avoid surprises later. Costs are determined by some factors such as the complexity of the plan, the experience of the lawyer, and your geographical location. Three, who will get the inheritance. A real estate lawyer should help you determine who is ideal to receive your estate to avoid paying excessive taxes.

Four, what will happen if your will is contested. In the event your will is disputed by your relatives, friends, and business partners, your attorney should help your family members safeguard your interests in court or through negotiation.

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