South Auckland Estate Lawyer – Elder Law
Estate law (also known as Estate Planning) is a wide-ranging law area that revolves around the care of the person and their assets especially after their death. In a nutshell, the law generally governs the wishes of a person after death. The process involves setting down some specific procedures to complete/close/end business and personal affairs. At first, finding a South Auckland estate lawyer to arrange and manage your estate may seem complicated, but in fact, an easy thing to do.
What Is The Work Of An Estate Lawyer?
An estate lawyer has many tasks to perform, like defending or making a claim on behalf of the estate, estate management, making a Will, appointing a South Auckland estate lawyer to act on your behalf when incapacitated, and protecting assets.
An experienced estate administrator and lawyer will also explain your liabilities and responsibilities. They are in a better position to obtain formal administration (Letters of Administration or Probate) from the High Court when required, paying estate debts, bringing in the asses, filing tax returns, and distributing assets to beneficiaries as per your wishes.
On the other hand, estate planning goes beyond creating a Will. It involves the creation of legal documents and processes that you wish to follow after passing away. It also ensures that all assets are properly distributed and ensure loved ones are taken care of as per your request.
While filling legal documents and following different processes, your estate lawyer will help you consider all possible eventualities and plan accordingly upon your death. These also include plans such as taxation obligations, funeral expenses, and any other estate obligation relating to your estate. This will help you understand the impact that comes with distributing your assets to beneficiaries.
Estate planning is essential, especially if you were married, have children from other relationships, are still married, or are self-employed. Estate planning will shield your loved one from a lot of legal and financial problems upon your passing, like preventing creditors from contesting personal assets.
The Work Of An Estate Lawyer
Because in most cases, the appointed executors in a Will are friends or family members; they are not familiar with the law and responsibilities of undertaking such tasks. For this reason, an estate lawyer will help provide the guidance needed through the whole process and prepare the required documents.
Therefore, the distinctive services offered will include obtaining probate (this is a legal document that allows or approves one to act on behalf of the deceased in assessing, collecting, administering, and distributing estate after all requirements have been met), and estate administration.
You will need someone to negotiate on your behalf and guide you through the whole process. This is why it is paramount to have a good and compassionate estate lawyer in your corner. The lawyer must be experienced, professional and approach each case with the attention and sensitivity needed. The term experience refers to knowledge, skill, and expertise in dealing with complicated estates.
Estate planning is an area that demands constant reviews and revision to take into account emerging issues, new assets, and changing financial circumstances. Everything must be up to date with new legislative and taxation changes.
For help with estates and wills, McVeagh Fleming is a well-established South Auckland estate lawyer.