When looking for an estate attorney it’s important to consider the costs they come with. Estate attorneys often charge a flat fee and with that will assist in crafting legally binding documents such as wills and power of attorney. However, much like other attorneys, estate planning attorneys can be employed on an hourly basis to help you maintain your estate as well as act on your behalf
Estate attorneys, also known as estate planning attorneys, assist in the planning process and afterward through the process of probate court. Estate attorneys understand the state and federal laws that will affect your estate.
Estate attorneys are licensed law professionals who understand how your estate will be handled after your death by way of inventory, value, disbursement, and taxes. While estate attorneys can walk you through the probate process, they also can help with other estate-related matters such as:
Creating a will
Designating your beneficiaries
Establishing durable power of attorney and medical durable power of attorney
Assist in reducing estate tax when possible
Assist in finding best options for the probate court process
Set up any trusts you may need to protect your assists
The business lawyers at Frost Law are qualified to assist you with all your business needs. In addition to a team of skilled business attorneys, Frost Law provides a one-stop-shop for various services that you and your business might need. Frost Law isn’t just about planning for the worst, we help you manage your estate plan, unpaid taxes, and bankruptcies so that you can continue your day to day. Our business team can provide legal advice in a wide range of areas for small businesses, midsize enterprises, and large corporations in Maryland, Virginia and Washington, D.C.
Focuses of a Business Lawyer:
Focuses of a Corporate Lawyer:
Business Lawyer vs. Corporate Lawyer
Both of these professionals provide different and needed services. A significant difference between them though is that corporate lawyers tend to provide guidelines when purchasing and selling items. When it comes to corporate law, the decisions of a corporate lawyer can significantly affect the business it works under. Meanwhile, business lawyers will primarily assist in areas including employment and taxes.
If you’re having trouble differentiating between a corporate lawyer and business lawyer still, you can understand a business lawyer sees the business as an activity, it involves the buying and selling of goods. Meanwhile, a corporate lawyer is concerned with the operations, activities, and validity of a corporation.
In the list below, we’ll provide you with some factors to consider when hiring a business lawyer.
While a lawyer may not check all the boxes you’re looking for, it’s important to narrow down your options as much as you can so you can find the best fit for your business.
Business lawyers are dynamic and also perform some lesser known tasks such as:
The size of a corporation or business a business lawyer may work for will determine how often they handle these tasks on a daily basis. For a small business, an attorney may be hired to handle most of the start up process of the business. In this case, the attorney can be hired to work through the restructuring of a company to simply review compliance issues.
Business lawyers who work for larger corporations however, specialize in certain areas of the business. In larger corporations you can find an entire in-house team of legal professionals who only handle a set of issues such as compliance matters.
With a business lawyer's wide range of knowledge and experience, they may even at times serve as an expert in a lawsuit. For example, in court, the court itself or the parties involved may need more information on a particular subject. This is where a business lawyer can be able to serve as an expert and provide insight into the disputed facts.
Business lawyers have a wide range of skills and are therefore equipped to handle a variety of issues that are business-related. These issues can include:
Primarily a business lawyer provides advice as well as other legal services that affect different areas of a business. Business lawyers also help with compliance in ensuring the business meets various regulations often set by the federal or state government. Most often, you’ll find business lawyers able to assist with a variety of complex issues such as:
A notable difference between business lawyers and other specialized lawyers is that they cannot handle the same legal issues as employment lawyers. Business lawyers focus primarily on business operations along with the overall structure of a business, while employment lawyers tend to focus on issues such as employment discrimination and employment contract disputes.
While typically working together, a Tax Lawyer and CPA are completely different, and one professional may not be able to help with issues even though both help taxpayers. Tax lawyers are legal professionals with law degrees. They hold certifications and memberships and have passed state bar exams.
There are several specialties a tax lawyer can get into. Some of them include:
Tax Controversy: Disputes over amounts owed to various tax authorities yadda yadda
Back Taxes: Individuals and businesses may have issues with back taxes related to non-filing, delinquent filing, payroll taxes, and a litany of other things yadda yadda
Corporate Tax – Lawyers ensure compliance with tax laws, rules, and regulations. When working with corporate entities they will also give advice on mergers and acquisitions, and other business and securities matters.
Executive Compensation – Tax Lawyers may also provide advice on federal and state regulations, benefits, and pensions. They can also be responsible for drafting employment agreements.
Exempt Organizations – In the nonprofit world, tax lawyers can represent tax-exempt entities. These include charities, trade associations, educational institutions, healthcare organizations and more.
International Tax Planning – Tax Lawyers may also provide counsel in relation to tax issues relevant to companies engaged in global business activities.
Municipal Finance – When working with this, tax lawyers are helping local governments with issues such as tax compliance, infrastructure, transportation, housing, school districts, and industrial and economic development bonds.
Tax Litigation – When litigating, tax lawyers will negotiate with tax authorities such as the IRS and provide defense in criminal tax cases.
Tax lawyers and tax attorneys provide the same services. They also fall under several other titles such as:
Tax code and laws are always evolving. Because of this, tax lawyers must stay current regarding tax law changes. They also typically conduct legal research and compile informational findings from clients' financial reporting to then negotiate with the IRS and other tax authorities better. Tax lawyers when helping you will typically need a handful of legal documents to have a better understanding of your case, these documents include:
Tax Lawyers can have various employers but clients dealing with back taxes, overpayment, and other tax controversy matters that plague millions of individuals each year are typically who tax lawyers work for.
Another example of who tax lawyers work for are corporations may hire a tax lawyer to handle specific tax controversy issues, while smaller firms may be hired to assist individuals or small businesses with audits. In the former, tax lawyers typically advise corporations on the legality of items such as commercial transactions, legislative developments, impacts of financial decisions, and payroll issues.
Tax lawyers must be able to clearly communicate to their clients the sometimes-overwhelming tax laws. They should also have a great understanding of accounting, reporting, and litigation. Beyond the tax code, tax lawyers rely on critical thinking skills, ensuring their client’s situation is correctly assessed and understood to support the best possible decisions for their clients’ financial successes.
Our tax lawyers navigate clients through the complex tax code while providing sound legal advice on complicated tax issues like disputing amounts owed, handling back taxes, and figuring out how to best take advantage of tax deductions, credits, and exemptions your country’s tax code offers. Some tax controversy lawyers stop short of tax planning but lawyers are capable and work together with accountants, financial planners, and other professionals to make sure your tax situation is in the best position it can possibly be in. Tax lawyers can assist both individuals and businesses.
Navigating the legal landscape can be difficult without a tax lawyer. A tax lawyer’s primary focus is to guide you through the taxation laws and assisting clients with disputes. Some tax lawyers are also capable of advising clients on tax planning matters and can work together with other financial professionals to ensure your money stays your money. Our tax lawyers can also help with setting up estate plans, making charitable gifts and more. In some cases, tax lawyers may also represent clients in criminal cases brought on by the IRS such as tax evasion or fraud.