The Top Practice Areas for Aspiring Attorneys
The field of law is an exciting career path that involves building knowledge and making a change in society. For those who have chosen to join the legal industry as aspiring attorneys, there are many different practice areas to explore. Some lawyers represent clients in resolving tax debt, while others use their knowledge of the law to smoothly transfer assets (of an estate) to beneficiaries.
Regardless of the focus area chosen, there are plenty of opportunities to advance knowledge while helping clients meet their goals. Here are four of the top practice areas for aspiring attorneys and how each field might impact one’s career path.
1. Estate planning
Estate planning is a practice area of law that covers the inventory, valuation, taxation, and dispersion of a person’s assets after their death. An estate planning lawyer is licensed and experienced in state and federal laws that may impact a client’s estate. Such attorneys arrange for the smooth transfer of assets to beneficiaries while exploring ways of minimizing tax fees. Estate planning also involves giving advice to clients during will preparation, assisting with the selection of beneficiaries, and using knowledge of the law to navigate the probate process.
Estate planning lawyers also prepare the documents necessary for clients to establish a trust. Whether one chooses a revocable or irrevocable trust, these attorneys ensure the trust meets all legal requirements. For example, an estate planning lawyer will advise clients on selecting trustees and determining which specific assets to place under ownership of the trust.
2. Tax debt resolution
Another important practice area of law covers the resolution of tax-related issues such as unpaid taxes and liens/levies imposed by the IRS. Because one in five people currently owes money to the IRS, tax-related issues are quite common. Tax lawyers work closely with their clients to resolve a wide range of tax issues. They prepare and file back taxes on a clients' behalf, negotiate for the reduction of fines, and use the law to help clients avoid loss of income or seizure of assets by the IRS.
Furthermore, tax lawyers act as liaisons between clients and the IRS during tax debt resolution. An IRS tax debt attorney will work with individuals and businesses when setting up payment plans, paying outstanding debt via an Offer in Compromise, and filing for bankruptcy protection.
3. Immigration Law
Immigration lawyers represent persons and family members who are looking to enter or remain in the United States. Immigration law is a broad and complicated field, covering areas such as green card applications and citizenship status.
Immigration lawyers prepare visa applications, such as fiancée visas, for clients who are sponsoring family members. They also advise clients on how to meet eligibility requirements and timelines that may affect the legal status of family members within the United States.
4. Property Tax Appeals
One of the biggest hurdles that real estate owners and investors face is navigating property taxes. It’s not uncommon for local municipalities to over-assess the value and returns of a property, thus imposing unnecessarily high taxes that may significantly impact a client’s bottom line. This issue can be resolved by filing a property tax appeal, and property tax lawyers provide professional advice in this area.
Property tax appeal lawyers carefully examine property regulations in their region of practice to determine whether a client’s assets are being taxed appropriately. These lawyers also prepare and file appeals (based on the needs and wants of a client), so their clients can receive deductions for a specific tax year.
The areas of law outlined above provide exciting and rewarding career paths for aspiring attorneys. Lawyers get to advise and assist clients while building knowledge within their respective fields. They also play an essential role in improving regulations that govern many different areas of daily life.
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