Estate and trust planning is process of approaching professional advisors or lawyers who are expertise in goals, concerns and assets to organize estate and set up trust. Estate lawyers are mainly responsible to assist with estate planning. Person appointed as one of the estate lawyers to administer the estate should have tax. An experienced estate lawyer helps one through legal process. If you decided to create will after attorney consultation, you are said to deal in right path. The potential tax implication of will and trust drafting make cost of lawyer as indispensable. A lawyer can explain whole options and help you to understand about types will or trusts.
Role of Family Lawyers:
A good estate or family lawyers will help one with various aspects of estate and trust law.
- Estate planning
- Estate administration
- Drafting will
Estate planning is set of tasks accounted to a process in which estate organization is involved. Estate planning lawyers will assist one on choosing beneficiaries and planning for children care. Most individuals who are lying below age 25 no need to start planning estate division. By being as a real estate lawyer, one should have real estate planning knowledge. In addition to education, experience on job also leads to knowledge. Besides, one should have advanced knowledge on legal system.
Roles And Responsibilities of Real Estate Lawyers:
However the real estate lawyers has role in distributing property and managing assets. He should have certification to serve designation to perform estate planning. He has responsibility to help clients in drafting and implementing legal documents. Estate law is related to family law as layers are necessary to work with individuals who are involved in estate. If you enter legal activity, you will arrange and organize assets transfer to heirs and beneficiaries. One will help clients to reduce tax fee imposed on estate which further requires tax law knowledge. Other personal and business matters included are retirement plans, life insurance policies and charitable contributions.
If you are prospective estate lawyer, you should possess Juris doctor degree and should have passed through estate bar’s exam. As per US Bureau of labor statistics, state bar requirements usually include written examination covering both law and ethics. Estate lawyers should be possessed with estate planning knowledge through job experience, mentorships and education. In addition to advanced knowledge of legal system, one should be thorough with uniform probate code which includes rules and limits on trusts.
Stacy has worked in private practice in both Edmonton and St. Albert in the areas of real estate and wills and estate law at Weary and Company Law Office. Stacy presently sits on the board of the Solo and Small Practitioners Committee of the Canadian Bar Association and has also been a presenter at seminars on wills and estates planning for the Alberta Teachers Association, the Edmonton Public School Board and the St. Albert Senior’s Center.