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Anytime you want to navigate the estate law or have estate planning projects, you cannot navigate these complexities alone. Instead, you will require estate planning and estate law experts to help you through this tedious and stressful process. Irrespective of your life stage or wealth, you can always find estate lawyers in Canberra to help you through any of the above instances. In this article, we will discuss the roles of estate lawyers so that you can be assured of the kind of help you can get from your estate lawyers.

Roles of Estate Lawyers in Canberra

The following are the roles of estate lawyers in Canberra;

  • Comprehensive estate planning

This is one of the important roles that estate lawyers play. Anyone who wants to develop comprehensive estate plans can always get assistance tailored to their needs from these lawyers. During this process, they will work closely with you as the client to ensure that they evaluate your assets, family dynamics, future objectives, and liabilities. They will also help you create your will, power of attorney, trusts, and other important estate planning documents. Also, when you have long-term or short-term objective estate plans, they will help you achieve your objectives by making sure that they consider things like asset protection, Charitable giving, legacy planning, and tax minimisation.

  • Drafting and preparing legal documents

Another role of estate lawyers is to help clients draft and prepare legal documents or do it on their behalf. Having the right legal documents is very crucial when it comes to implementing your estate plans effectively. However, most people make mistakes when drafting and preparing legal documents like trusts and advance directives, Wills, powers of attorney, estate planning instruments, and health care providers. However, when you have estate lawyers by your side, they will ensure that they help you draft and prepare the correct legal documents quickly.

  • Coming up with asset protection strategies

It is also the role of estate lawyers to provide their clients with strategies to protect their assets and safeguard their wealth, thereby minimising exposure from potential risks, liabilities, and creditors. This may involve strategies like limited liability entities, establishing trusts, and other legal structures that can shield your assets from lawsuits, divorce settlements, and creditor claims.

  • Tax planning and minimisation minimisation

Navigating tax planning and minimisation can be challenging without skills, knowledge and experience. Fortunately, estate lawyers are professionals in tax planning and minimisation. They will help you mitigate the impacts of your estate, inheritance, gift and income taxes on your estates and assets. Since they are experts on tax laws and regulations, they can identify opportunities to help you save on taxes and implement strategies to optimise your tax positions.

  • Estate and probate administration

If a client passes, real estate lawyers will ensure they help executors, family members and trustees with the probate and estate administration process. They will also guide them in their responsibilities, legal requirements, and procedures to follow during estate administration. This will also include filing probate petitions, inventorying assets, distributing assets to beneficiaries, and inventorying assets.

What Kind of Estate Lawyers in Canberra?

If you are looking for Canberra’s finest estate lawyers, you must be careful not to hire fake lawyers. Instead, please take all the time you need to scrutinise the lawyers you find and their credentials. This way, you will be able to find estate lawyers who are highly qualified, experienced and reputable.