Will is one of the crucial legal documents that every Australian above 18 should creates for the security of their family.
This document involves information regarding whom you want to give assets to and who you want to make decisions for if you cannot make decisions in life. This document involves a lot of other information, like how you want your funeral to be performed.
Because will is so crucial, people need the assistance of a lawyer to create it. The good part of this document allows you to choose an executor who will handle all these tasks on your behalf after your demise. This means you can rest assured that your work will be completed the way you want, even in your absence.
However, the work of an executive can be hectic as it involves many responsibilities; one such big task they need to perform is getting Probate from the court to handle the deceased’s “estate” (including their property, money, and real estate). This document helps you make financial decisions and plans to sell the deceased’s property.
But this task can be complex, especially for those not experts in legal matters that is why most people prefer to get assistance from a Probate Solicitor.
What is a Probate Solicitor?
A probate solicitor is a legal expert who specialises in guiding clients through the complex process of obtaining a Grant of Probate.
What Does a Probate Solicitor Do?
Specifically, here are some of the everyday tasks a probate lawyer may assist an executor and beneficiaries with during the probate process:
- The demise of a loved one brings many responsibilities, including Collecting proceeds from life insurance policies. However, in times of grief, family members don’t feel like going here and there. In such a situation, a probate solicitor stand firm with the executor and beneficiaries to conduct the essential tasks which involve:
- Obtaining appraisals for the decedent’s real property
- Assisting in the settlement of debts and bills
- Assembling and submitting every document a probate court requires
- Determining if any estate or inheritance taxes are due and making sure those debts are satisfied
- Resolving income tax issues
- Managing the estate checking account
- Transferring assets in the decedent’s name to the appropriate beneficiaries
Above, we listed the tasks of probate solicitor conduct. Many might feel they can do all the above tasks themselves, so let’s explore the benefits experts offer to understand the difference between DIY tasks and expert assistance.
Benefits of Hiring a Solicitor to Handle Probate
Though many believe they aren’t required to hire probate solicitor men, some of them don’t hire them.
Though it’s a personal choice, it’s always best to have an expert on your side regarding legal documents.
Because one messed up task means you must spend time again arranging documents, getting signs from authorities, and more.
But you can skip all these worries and inconveniences by putting the task on experts’ shoulders and following how they will benefit you:
- Protection from financial liability – you are protected if any problems arise with issues such as an insolvent estate, validity of the will, or inheritance tax calculations. The Solicitors Regulation Authority (SRA) oversees lawyers and requires them to follow rigid norms of conduct. Thus, they offer you advice within the parameters established by the government.
- Expertise to deal with unforeseen issues – for example, the discovery of additional assets during the probate process can be advantageous to the beneficiaries – but tax liabilities must be considered.
- Advice – this includes tax guidance, handling family conflicts, and counseling the spouse on their estate.
- Peace of mind – knowing that experts are handling the estate impartially can make relationships between beneficiaries easier.
Summary: Solicitors can be a great help in doing legal work, as they have expertise in dealing with legal requirements and processes and can advise on tricky or contentious situations that may arise.
Solicitors can deal with tasks you may not be comfortable completing, such as calculating things like inheritance tax and other fees, which are not things you want to get wrong.
So, avoid the pain of handling probate alone, visit Jackson Associate, and connect with one of the best Lawyers in Adelaide.
