Important Things to Note About Real Estate Lawyers in Houston
Real estate attorneys are people who provide legal advice to clients who own property that needs to be taken care of in case they are incapacitated or dead. It is their responsibility to release assets to heirs and to pay all applicable estate taxes to the government.
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. The duties of the transactional real estate lawyers include preparing documents, reviewing documents, negotiating terms and performing various tasks to get things done for their clients. Litigation real estate lawyers work on resolving real estate transactions that are not legally correct in a court of law. This means that the best real estate attorneys are those who have a clear understanding of property, wills, trusts, state and federal laws.
The aim of planning an estate is to ensure that an individual’s assets and last wishes are carried out precisely according to their desires. Real estate planning is ideal for individuals who 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. It is also excellent for people who have businesses or whose wealth is dispersed across countries. If you fail to plan your estate, you risk losing your wealth.
Before hiring a real estate attorney, there are four things that you must review first. One, the length of practice of your law firm of choice as estate attorneys. It is recommended that you go to law firms whose specialty is estate law and have been in business for more than ten years. 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. Make sure that you and the law firm are clear on all the charges you need to pay to avoid any surprises later on. The fees you will pay for the service are determined by the complexity of the plan, the experience of the lawyer, and your geographical location. Three, who your assets should go to. A real estate lawyer should help you determine who is ideal to receive your estate to avoid paying excessive taxes.
Four, what will follow when 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.