The Benefits Of Deceased Estate Lawyers
Posted on: 7 March 2022
Estate management is a tiresome task for testators and a challenging activity for family members who lost their loved ones. Luckily, these parties can hire a deceased estates lawyer to help them manage and divide the estate. This extract details the benefits of hiring a deceased estates lawyer.
Creating Wills
Writing a will is a straightforward process. However, if you choose to write it without the help of a deceased estates lawyer, it could be declared null and void. For instance, if two witnesses did not witness the signing, the court could declare the document invalid. A deceased estates lawyer helps ensure that your will meets the minimum legal requirements. Besides, the professional helps out with the will's wording to ensure your beneficiaries understand your intentions. The lawyer also adjusts the will to suit changing financial situations. If you have special concerns that are not associated with the estate division process, the lawyer will add an explanation letter to the will. For instance, you might want to be buried within a specified number of days.
Setting Trusts
The deceased estate lawyer sets trusts on behalf of their clients. Additionally, they assess your situation and advise on a suitable trust. For example, they could recommend a family trust to make tax savings. Conversely, they could ask you to consider a charitable trust when donating a portion of your estate to a charitable organisation. The lawyer also helps you set the terms and conditions of the trust. It keeps you in control of the trust even after death. For example, they could recommend an appointer to keep the trustee on their toes. When creating a charity trust, the lawyer could recommend setting conditions on how the charity can use the donation.
Settling Deceased Estates
The deceased estate lawyer guides the executor as they settle the deceased estate. In most cases, executors are friends or family of the deceased who do not have any legal background. As such, the deceased estate lawyer helps them file for probate and informs them about their responsibilities while executing the will. For example, they must pay estate taxes and debts.
Deceased estates lawyers can also represent beneficiaries who intend to contest the will. However, they (the deceased estate lawyer) cannot have any interest in the property under dispute. In Australia, beneficiaries can contest a will if the testator lacked testamentary capacity or was coerced into writing the will. Besides, it could be that the estate has a doctored will or two contrasting wills.
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