Probate lawyers play an imperative role in estate planning and settlement. Anyone can hire or retain probate lawyers Adelaide to execute his/her last will. Estate executors may hire experienced lawyers who can draft and record legal documents through the court and also help with estate administration duties.
Mainly two types of probate lawyers are in the market and they are transactional and probate litigators. Transactional lawyers are responsible for handling estate related duties. On the other hand, probate litigators are required when inheritors contest the will or any other family members challenge the will.
To avoid disputes and settle estate properly, a deft lawyer will provide you with the proper legal assistance. Here are the roles of an estate or probate lawyer.
Locate, determine, and secure the assets of the deceased
The last testament of the deceased will help you to identify all the assets and properties of the deceased. An experienced probate lawyer Adelaide will then trace all the assets whether it’s a cabin or vacation home, a bank account, or a business investment. Any outstanding debts also need to be identified and accordingly, need to settle any unpaid balances. The probate lawyer is responsible for giving notice to creditors of the deceased person. He also makes important arrangements to settle unsolved financial matters.
A probate lawyer also assists in the preparation of documents, statements of accounts for the audit of court. Any transfer of estates must be noted and prepared.
Provide assistance and advice to the executor
By hiring a probate lawyer, an executor may feel more confident and secure. An experienced probate lawyer will offer the best legal advice and assistance in this case. State laws have provisions regarding estate administration. In this scenario, the best way to handle disputes is to hire an experienced lawyer who has adequate knowledge of the legal process and experience in handling probate issues.
Know your taxes
The laws regarding estate and inheritance taxes vary from country to country. Only an experienced lawyer can advise you on this. Sometimes, selling the property instead of receiving it as an inheritance will be more beneficial for you due to the various taxes involved. Probate lawyers will assist you on how and where to get the cash to pay the taxes.
Distribute to beneficiaries
After taxes, you need to settle final bills and other debts. A probate lawyer distributes the remaining assets and properties to legatees. If a deceased person made the last will/testament, then it would be an easier job. But without the will, a lawyer needs to get the court’s approval on who will receive the inheritance and how it will be distributed among successors of the deceased.
Hiring a probate attorney to handle estate affairs can be a tiresome task during the grieving process. It is beneficial to work with the lawyer who executed the decedent’s Will. However, you should hire an attorney whose personality is suited to the estate administrator. Managing an estate can be an extremely emotional and sensitive issue. Thus, you should employ a lawyer who shows little compassion and sensibility. Else, the entire process becomes unbearable and excruciating.
Evans Testa Barristers and Solicitors is a reputed law firm in Adelaide that offers divorce lawyers, probate lawyers Adelaide, criminal lawyers, defence lawyers, personal injury lawyers, and many more. Our probate lawyers are experienced and understand the emotions that are associated with an estate. Thus, they will offer you the best estate planning and settlement solutions so that no dispute arises.
To know more about us and our service, please visit our official website.