A deceased estates lawyer is a professional who assists clients who would want to create an estate management plan. The primary objective of this plan is to ensure a smooth transition of the estate to beneficiaries once the client dies. In the excerpt below, you will learn some of the essential services provided by a deceased estates lawyer and the considerations you should make when hiring a deceased estates lawyer.
Services Provided By Deceased Estates Lawyers
Writing Wills: Although you are in charge of writing your will, the deceased estates lawyer will review the document to ensure it meets the minimum legal requirements. The lawyer will ensure that the will does not contain any contradictions and that it is signed by two witnesses. Your lawyer will also help attach codicils to amend the will. They can also store the will at your request.
Creating Trusts: Trusts are an estate management tool in which a beneficiary's inheritance is managed by an individual. The primary benefit of trusts is that they allow the testator to control how the estate is managed. The lawyer will assess your situation and advise on an appropriate trust. For instance, a discretionary trust empowers the trustee to determine how to distribute the trust's income. Unlike a unit trust, the beneficiaries receive a fixed income based on their shares in the trust.
Power Of Attorney (POA): This is a legal document that empowers an individual to make medical or financial decisions on your behalf if you are medically or mentally incapacitated. Your lawyer will ensure that the POA does not expose your estate to liabilities should your agent misuse their powers. For example, the lawyer could limit the bank accounts the agent can assess or the financial decisions that they can make. For instance, they could be prohibited from selling property.
Estate Management: Your lawyer can help with various aspects of managing your estate. For instance, they can help exempt some of your assets from the probate process. A deceased estates lawyer can also manage assets in trusts and guide the executor to transfer assets to your beneficiaries.
Hiring A Deceased Estates Lawyer
Consider the following when hiring a deceased estates lawyer:
For more information or to get help, contact a local deceased estate lawyer.Share
30 April 2021
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