What Does a Trust and Estate Attorney Do?

When high-net-worth individuals transfer their wealth to heirs, they often encounter complicated tax issues. A tax attorney can help them develop estate planning strategies that minimize taxes while also meeting their goals for their estate. A tax attorney can also help clients settle a tax dispute with the IRS.

A tax attorney is a lawyer who specializes in estate law and federal income taxation. They typically have a bachelor’s degree in a subject such as finance, accounting, business or a related field and can obtain a law degree after completing undergraduate studies. Those who wish to become tax attorneys must pass a written bar exam and receive the required certification from a state bar association.

The primary job of a trust and estate attorney is to help their clients achieve their personal goals while obtaining the significant tax savings that may be available to them through proper planning. This includes the formation of trust agreements, wills and revocable living trusts. During this process, attorneys consider the client’s objectives, family relationships and charitable inclinations, the relationship of federal gift and generation skipping transfer taxes to these objectives and draft the appropriate documents.

In addition, these lawyers may also assist with tax controversy work including negotiating with the Internal Revenue Service and filing appeals on behalf of their clients. They can also help their clients with tax-deductible expense deductions for various expenses such as home mortgage interest and property taxes. They can even represent owners in protesting tax assessments via the local tax commission or commencing judicial review proceedings in Supreme Court to lower an assessed value of real estate.

If you are planning on leaving a large amount of money to heirs, you need the advice of an experienced New York City estate tax lawyer. These attorneys are familiar with both federal and New York state estate tax laws.

Before hiring a tax attorney, make sure you understand the cost structure for their services. Most attorneys charge by the hour. They should provide you with their standard hourly rate and how many hours they expect to spend on your case. Some attorneys also charge a flat fee or a hybrid model that combines an hourly rate with a flat fee.

The most important factor when choosing a tax attorney is to find one who has experience handling similar matters to yours. Ask potential attorneys for references and check online reviews. A good tax attorney will be able to answer your questions in an efficient and professional manner.

If you are in need of a tax attorney, you can search for one in your area by using a website such as BCG Attorney Search. The site allows you to narrow your search by location, practice type and more. You can also learn about the qualifications of a particular attorney by viewing their profile, which can include information such as their education, experience and certifications. You can even use the site to contact an attorney directly and set up a consultation.

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Long Beach, CA, 90807
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