If you are preparing to draft a will outline, you will most likely find yourself ending up exploring and testing dozens of online templates. Well, that’s not a great idea at all. Still, with tons of resources available online, the power of attorneys, wills, or trusts like documents are not that suitable to create with a DIY approach.
Expecting what can be the solution to this? None other than hiring a professional wills and estates lawyer who can assist you from beginning to end. Still not convinced? Here is a quick rundown explaining why it is better to hire an attorney for the same. Take a look.
- Most of us assume that trusts and wills are just for handing down the property to our loved ones. However, you need to know that it is not just limited to this, as the terms and assets are mentioned in the piece of legal documentation. For instance, in a will draft, you will have the executor’s name, nominated guardianship of the child, and any assets dedicated to the charity. The lawyer for wills and estate will ensure that everything is mentioned precisely in a well-informed manner and there are no disputes during the validation process.
- It is quite possible to start with the draft, but other basic and advanced aspects like legally binding require proper attention. And, only a lawyer can help you do that, along with creating and reviewing the final draft before it is presented to the legal court. Every province in Canada has a different set of strict regulations governing validation, and they often change with time. So, there’s no chance to take the risk of presenting your draft in an outdated manner. Taking professional help can be the best thing you can do at that particular time.
- Talking about the tax implications, then you might be concerned about them as well. Normally, the tax is imposed on beneficiaries depending on the estate size. As a result, when you have hired a dedicated wills and estates lawyer, the expert will bring different strategies to the table to reduce the tax burdens by the most recent regulations.
- Last but not least, sometimes you may be required to draft other pieces of documents to attach with the trustor’s will to pass in legal proceedings. The most common example here can be if a medical POA allows someone else to take the authority of making significant medical decisions on their behalf. Similarly, a financial POA will allow the third person to manage the money in the event if the first person is not available to address situations.
We all know that life is quite unpredictable. Therefore, it is always a better and wiser decision to hire a lawyer for wills and estates matters and help you draft the important documentation whenever required. While selecting a suitable option, make sure to have a legal expert or team known for their attentive, comprehensive, and up-to-the-minute legal expertise.