Estate Planner

An estate planner is a professional who helps individuals and families plan for the distribution of their assets after death. Estate planners work with clients to create wills, trusts, and other legal documents that ensure their wishes are carried out after they pass away.

Roles and Responsibilities of an Estate Planner

Estate planners play a vital role in helping people protect their assets and provide for their loved ones after they are gone. They work with clients to create estate plans that meet their specific needs and goals. These plans may include:

• Wills
• Trusts
• Powers of attorney
• Living wills
• Health care directives

Estate planners must be knowledgeable about a variety of legal and financial issues, including tax law, probate law, and estate planning law. They must also be able to communicate complex legal concepts in a clear and concise manner.

Education and Training

Most estate planners have a bachelor's degree in law, finance, or a related field. They may also have a master's degree in estate planning or a related field. Some estate planners also choose to obtain a certification from a professional organization, such as the National Association of Estate Planners and Councils (NAEPC).

Career Outlook

The job outlook for estate planners is expected to grow faster than average in the coming years. This growth is expected to be driven by the increasing number of people who are retiring and the need for estate planning services.

Salary

The salary of an estate planner can vary depending on their experience, education, and location. According to the Bureau of Labor Statistics, the median annual salary for estate planners was $73,160 in May 2021.

Skills and Abilities

Estate planners must have a strong understanding of a variety of legal and financial issues. They must also be able to communicate complex legal concepts in a clear and concise manner. Other important skills and abilities for estate planners include:

• Attention to detail
• Analytical skills
• Problem-solving skills
• Interpersonal skills
• Time management skills

Personal Growth Opportunities

Estate planners have the opportunity to develop a variety of skills and knowledge throughout their careers. They may choose to specialize in a particular area of estate planning, such as tax law or probate law. They may also choose to take on leadership roles within their organizations.

Day-to-Day Responsibilities

The day-to-day responsibilities of an estate planner can vary depending on their experience and the size of their organization. However, some common tasks include:

• Meeting with clients to discuss their estate planning needs
• Drafting wills, trusts, and other legal documents
• Advising clients on tax and probate law
• Managing client accounts
• Preparing and filing tax returns

Challenges of Estate Planning

Estate planning can be a complex and challenging field. Estate planners must be able to deal with a variety of legal and financial issues. They must also be able to communicate complex legal concepts in a clear and concise manner. Some of the challenges of estate planning include:

• The need to stay up-to-date on changes in the law
• The need to deal with complex financial issues
• The need to communicate complex legal concepts to clients
• The need to deal with difficult family dynamics

Projects

Estate planners may work on a variety of projects throughout their careers. Some common projects include:

• Drafting wills and trusts
• Advising clients on tax and probate law
• Managing client accounts
• Preparing and filing tax returns
• Representing clients in court

Self-Guided Projects

There are a number of self-guided projects that students can complete to better prepare themselves for a career in estate planning. These projects can help students develop the skills and knowledge necessary to succeed in this field. Some self-guided projects that students can complete include:

• Researching different areas of estate planning
• Interviewing estate planners
• Volunteering with an organization that provides estate planning services
• Taking online courses in estate planning

Online Courses

Online courses can be a helpful way for students to learn about estate planning. These courses can provide students with the skills and knowledge necessary to succeed in this field. Some of the skills and knowledge that students can gain from online courses in estate planning include:

• An understanding of the different types of estate planning documents
• Knowledge of tax and probate law
• Skills in communicating complex legal concepts
• Experience in drafting wills and trusts

Online courses can be a helpful way for students to prepare for a career in estate planning. However, it is important to note that online courses alone are not enough to follow a path to this career. Students who wish to become an estate planner should also consider completing a bachelor's degree in law, finance, or a related field.