After earning a law degree, countless opportunities open up to specialize in specific areas of law. One such field is estate planning, which might have caught your attention. But what does it entail, and how does one become an estate planning attorney? This guide will walk you through the steps from acquiring essential skills to utilizing legal research solutions and certifications that can enhance your career.
What Do Estate Planning Attorneys Do?
Estate planning attorneys, also known as estate lawyers, provide legal guidance to clients about organizing their assets in the event of incapacitation or death. Estate planning is a complex field that requires in-depth knowledge of laws and a deep understanding of a client’s unique circumstances. Effective estate lawyers must combine their legal knowledge with personalized strategies to help clients protect their assets and ensure their loved ones are taken care of.
Some responsibilities of estate planning attorneys include the following:
- Developing strategies for tax planning and transferring family assets.
- Advising clients on charitable donations and wealth management.
- Crafting life insurance plans and asset management strategies.
- Helping clients avoid probate court by creating comprehensive estate plans.
- Manage property appraisals, oversee assets, and settle debts.
- Establishing guardianship and power of attorney for minors.
- Filing necessary documents with the courts.
The work of an estate planning attorney involves drafting wills, establishing trusts, managing probate processes, and ensuring that the legal aspects of asset distribution run smoothly after a client’s death. Given the complexity of these tasks, continuous estate planning research is key to staying current in the field.
Do You Need Certification to Become an Estate Planning Attorney?
Technically, no certification is required to become an estate planning attorney, as having a law degree and passing the bar is sufficient to practice estate law. However, obtaining certifications can significantly boost your credibility and provide additional expertise that clients value.
There are several certification paths available for estate planning attorneys, each offering unique benefits. Some of the most prominent certifications include:
1. Chartered Trust and Estate Planner (CTEP)
A CTEP designation is ideal for those aiming to serve high-net-worth clients. The Global Academy of Finance & Management offers this certification, which requires candidates to hold an undergraduate or graduate degree in fields like law, finance, or accounting. Additionally, candidates need at least three years of estate planning experience. CTEPs often assist affluent clients in setting up trusts, dividing assets, and managing corporate and personal investments.
2. Accredited Estate Planner (AEP)
Offered by the National Association of Estate Planners & Councils (NAEPC), the AEP certification requires a law or accounting degree and at least five years of experience in estate planning. Accredited Estate Planners demonstrate a specialized knowledge of estate law, making them trusted advisors for clients of all financial backgrounds.
3. Certified Trust and Fiduciary Advisor (CTFA)
Administered by the American Bankers Association, the CTFA certification requires three years of professional experience, completion of a specialized education course, and passing a certification exam. This credential is particularly useful for attorneys who manage trusts and fiduciary responsibilities.
In addition to these certifications, estate planning attorneys can benefit from credentials in related fields such as finance, tax, and wealth management.
Steps to Becoming an Estate Planning Attorney
If you’re interested in becoming an estate planning attorney, there are several key steps to follow. Whether you’re already pursuing a law degree or considering estate law as a new specialization, here’s a roadmap to guide you:
1. Earn Your Degree
The first step is obtaining a college degree. While many estate lawyers study law, degrees in accounting, financial planning, or business are also common for those entering this field.
2. Gain Professional Experience
After completing your degree, seek internships or entry-level positions with estate planning law firms. Gaining hands-on experience under the guidance of experienced estate attorneys will help you understand the intricacies of estate law and build a strong foundation.
3. Enroll in Law School
To officially practice as an estate planning attorney, you’ll need to attend law school and pass the LSAT. The process takes several years but provides the comprehensive legal training you’ll need to handle complex estate cases.
4. Pass the Bar Exam
Once you graduate, passing the bar exam is essential. This allows you to legally practice law in your state and begin working as an estate planning attorney. Continuing education is crucial throughout your career, and estate planning research will help you stay updated on the latest legal developments.
5. Pursue Certification
While not mandatory, certifications like CTEP, AEP, or CTFA can enhance your qualifications. These specialized certifications give you a competitive edge and demonstrate your commitment to mastering estate planning law.
The Importance of Estate Planning Research
As an estate planning attorney, it’s crucial to stay informed on changes in tax laws, probate procedures, and asset management strategies. Continuous estate planning research will help you provide the best possible service to your clients.
Numerous online resources and courses are available to attorneys looking to deepen their knowledge. For example, CEB offers comprehensive tools for legal research, including online courses, law books, and databases designed to keep California attorneys up-to-date on estate law. Whether you’re preparing for certification or simply looking to enhance your knowledge, tools like these can provide valuable insights into the field.
Additional Resources for Estate Planning Attorneys
Estate law is a specialized field that requires more than just legal expertise. Many estate planning attorneys have experience in related areas such as tax law, accounting, or wealth management. You don’t necessarily need another degree, but gaining knowledge or certification in these fields can enhance your ability to serve high-net-worth clients.
Estate planning lawyers often collaborate with professionals in other fields, including wealth managers, financial advisors, accountants, and trust administrators. This interdisciplinary approach allows you to provide comprehensive estate planning services tailored to each client’s unique situation.
Continuing Legal Education for Estate Planning Attorneys
To excel as an estate planning attorney, ongoing education is key. Whether you’re new to the field or a seasoned professional, continuing your legal education helps you stay competitive. Resources like CEB provide estate planning attorneys with the tools they need to succeed. Since 1947, CEB has been offering a wide range of legal education tools, including state-specific law courses, online resources, and practice guides for California lawyers.
By continuously improving your skills and staying updated on the latest estate planning research, you can ensure you’re providing the highest level of service to your clients.
Conclusion
Becoming an estate planning attorney offers a rewarding career path, helping clients secure their legacies and protect their loved ones. By following a structured path—earning a law degree, gaining experience, passing the bar, and pursuing additional certifications—you can build a successful career in this specialized legal field.
In addition to obtaining the necessary qualifications, continuous estate planning research and ongoing education will help you stay at the forefront of your profession. With resources like CEB, you can access the tools and information needed to advance your knowledge and provide exceptional service to your clients.
For more information on the educational resources available to estate planning attorneys, visit the CEB website today.