Estate planning, in simple words, is a person’s will or the decision of a person to divide his/her assets among the family, charities, etc. by their own will in the event of the death of the following person. An estate attorney comes into play to simplify this time-consuming process; the firm you hire for this work will send a representative, or you can freelance this work from a local estate attorney lawyer. Let us know What are the ‘Salaries For Estate Planning Attorney’.
What exactly does the estate planner provide its customers?
In simple terms, an estate planner is a licensed attorney who will plan their clients’ assets after their death. The client can make the will as he or she wishes with the estate attorney, and the attorney will ensure the technicalities of the will such as transfer documents, disbursements, and the tax the client will need to pay in comparison to the client’s assets. The estate planner provides its clients with the following amenities:
- Preparing the will as per the client’s needs and requirements while taking care of the other documents.
- They identify your beneficiaries.
- They also help establish a durable power of attorney.
- They create advanced health care directives, and they also make long-term plans about your assets and handle all the paperwork related to them.
- They also assist the client in identifying the best types of trusts to assist the client in investing their money in bonds, gold, and so on, as well as transferring assets from one trust to another at the time of death or before the client’s death.
- They identify ways to avoid the probate process, and also with the help of your financial advisor, they also try to avoid taxes on certain assets through effective tax planning.
Salaries for estate planning attorney:
Being an attorney nowadays is not an easy job, but the competition for the positions is very high, and the job itself is not one where there is a high shortage of staff, so if one person leaves the job, there will always be 10 attorneys in line to grab the job. But still, the average national salary of an estate planning attorney in the USA as of 2023 is $100000 per year, with the number going as low as $81,000 per year for newly recruited employees who have no job experience, and for the highly experienced attorneys, the number goes up to $140000 per year.
Which are the best cities to work in as an estate planning attorney in the USA?
Some of the best cities to work as an estate planning attorney are:
- New Jersey, NJ: the best city in the whole country to work as an estate planner is the city of New jersey in the state of New Jersey. The average salary in this city is around $120,000 and the number goes as low as $76,520 for the newly recruited and the number goes as high as $175,000 for the experienced attorneys. For the freelance attorney which works on an hourly basis, the number goes from the average of $58 per hour to a low of $45 and as high as $70 per hour which is the best provided by any city for an estate planning attorney in the country.
- Virginia: the second best city work in the country as an estate planner is the city of Virginia in the USA, the average salary of an attorney in that city is $1,15,000 which is 50% greater than the national average of the country. The number goes as low as $110000 per year and the number goes as high as $1,50,000 per year for the highly experienced professionals in the country.
- Chicago, Illinois: the third best city to work for in terms of salary and living workplace and the market is Chicago city in the state of Illinois in the country. The average salary is $112,500 per year for any normal employee as the number goes as low as $87,500 for newly recruited employees and the highly trained professionals the number goes as high as $1,50,000 per year. For freelance workers on average, workers can earn around $72 per hour.
- Denver, Colorado: the 4th best place to work as an estate planner in a firm or freelance is the city of Denver in the state of Colorado. The average salary of an employee in a firm is around $1,37,500 per year and the number goes as low as $106,875 for the newly recruited employees and the ones just joining the firm and the number goes as high as $168,250 per year for the high professionals and the ones with the most experience in terms of degrees like Master’s or Ph.D. or just work experience of around 5-10 years in the field. The people who do freelance work on an hourly basis can make an average of $66.11 per hour and the number goes as low as $51 per hour and as high as $80.89 per hour. Another city in the state of Colorado is the city of Boulder which is also somewhat close to Denver in terms of average salary for an estate planning attorney with the average hourly salary of the city being $73 for an estate planning attorney of the normal median level with a decent work experience.
Now We’ve learnt about ‘Salaries For Estate Planning Attorney’, In conclusion, having an estate planner means that sorting your assets out in the event of your death whether it might be given to the family or the charity is entirely up to the client the estate planner helps with the paperwork and documents and also help the client with their CA to reduce the tax payments of the client on his/her assets by figuring ways out, the average salary of an estate planning attorney in USA is 1,00,000 dollars per year and the best cities for the highest salary in New Jersey and Virginia.
- What is the salary satisfaction score of an estate planning attorney in the USA?
The estimated salary satisfaction score is about 69 out of 100 for an estate planning attorney in the USA.