Estate Planning with a Family Lawyer
Making a will can sometimes be a very stressful situation, especially when you have a lot of things and individuals to consider. More often than not, your best course of action is to seek the expertise of a family lawyer or the expert legal advice of a wills and estates barrister, as he is knowledgeable in common law jurisdictions particularly in courtroom litigation and advocacy.
Wills and Estates
While you may not consider your assets as particularly worth dividing among the members of your family upon your demise, it is often a sound advice to plan adequately for the management of your estate. While you can draft your own will, it is highly recommended that one be drafted by a family lawyer in order to provide adequate security should some of your family members will be contesting a will or any of its provisions.
Estate planning often involves the careful anticipation and the arrangement of the disposal of your estate – the sum total of your assets less your liabilities – while you are still alive. Your assets can include all the legal rights and interests as well as your entitlements to any property of any kind. Estate planning is required in order to avoid the uncertainties that might occur during the distribution, or the probate procedure, of your estate upon after your passing. This is why the expertise of a wills and estates barrister will be highly valuable.
What a Family Lawyer can do?
Your family lawyer can help you plan for the appropriate and legal disposal of your estate. Careful planning is needed in order to fully optimize the overall value of your estate. This is usually done by reducing the amount of taxes as well as other related expenses. Your family lawyer will discuss the possibility of distributing the property instead as incremental gifts during your lifetime.
In cases where you can foresee some of your family members fighting a will provision, your family lawyer will be able to assist you in drafting will provisions that are very clear and highly specific so that any confusion may be avoided.
Your family lawyer will also assist you in the determination of a suitable candidate who will act as guardian for your children who are under 18 years of age, if any.
While the whole process of estate planning, including the development of wills, beneficiary designations, trusts, property ownership, and other legal devices can be a very stressful experience, the expertise of a wills and estates barrister can significantly take the headache off you so you can enjoy life’s greatest joys while you still can.