A lawyer that deals with deceased estates will help you prepare and execute your will. This extract discusses the benefits of hiring a deceased estate lawyer.
The Legality of The Will
The lawyer's primary role is to ensure that your will meets the set legal standard. An illegal will cannot pass the probate process. Besides, some of your beneficiaries could dispute the will. Typically, wills can only be made by adults of sound mind. Moreover, the testator should not be coerced when writing the will. The document should not contain any contradictions. Testators are encouraged to change the terms of their will as their financial position changes. For instance, if you sell your property, you will have to remove it from the will.
Choosing Executors
The executor's role is to apply a letter of probate from the Supreme Court. He or she will also run your estate, pay your debts and divide property as per the terms of your will. Your deceased estate lawyer will help you choose an executor. The executor should be someone you trust with the technical know-how of how to run your estate. Your lawyer can help the executor in his or her duties. For example, he or she will advise the lawyer how to apply for the letter of probate. He or she will also help out with legal issues such as how to access funds in your accounts, how to terminate partnerships and contracts and what the legal aspects of selling your property are.
Running Trusts
Trusts are an ideal way to cater to the needs of your children and ensure the continuity of your businesses. Trustees manage funds and property in the trust on behalf of the beneficiaries. Your lawyer will advise what type of assets you should put in the trust. For instance, depreciating assets such as vehicles may not benefit your beneficiaries. Place real estate properties and intangible assets such as shares and bonds in the trust. These assets generate a continuous income stream and can be sold at a profit. The lawyer will also advise you on how to protect beneficiaries in the trust. For example, you could have an appointor with the power to hire and dismiss trustees in the trust. The appointor will help prevent legal disputes in case the trustee mismanages the trust.
When choosing a deceased estate lawyer, conduct some thorough background research to ascertain his or her experience and reputation. Unscrupulous individuals could misadvise the executor or mismanage your property. Therefore, you should work with individuals affiliated with professional legal associations.
To learn more, contact a deceased estate lawyer.
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