Seeking advice from a lawyer who specialises in wills and estate planning is a wise move if you are looking to make a will of your own, a tax consultant has asserted.
Toby Harris, who is a tutor at the Society of Trust and Estate Practitioners for its Certificate in Will Preparation in the UK, asserted that there are many different types of lawyers and it is important to find someone who specialises in wills if you require assistance.
"The kind of [lawyer] who would be really good at getting your injury claim sorted might not be very good at writing wills," he explained.
Instead, he advised anyone looking to make a will to look for a lawyer who specialises in this area and can take you through the entire process from start to finish.
Experienced lawyers will also be able to advise you on how to choose an executor and provide information about dividing your assets fairly among your dependants, as well as any charitable donations you may wish to make.
According to Harris, important factors to consider when making a will include your personal finances, as well as your family relationships and other individual circumstances - in some cases, inheritances and insurance claims can affect your assets considerably.
In Australia, your wills and estates lawyer will be able to not only help you prepare your own will and offer estate planning advice tailored specifically to your needs, but can also offer assistance on a range of other legal issues - including estate disputes.
Wills and estate planning is best carried out in the interest of your loved ones - as well as yourself - and it is never too early to start looking to the future. An experienced legal professional can help you navigate this process and offer assistance and advice to suit your circumstances.
Decisions that usually need to be made include appointing powers of attorney, who is the person responsible for looking after your financial affairs on your behalf, or enduring guardian - the individual trusted to make decisions about your medical care. In addition, your lawyer can provide valuable information on tax issues and asset protection, including testamentary trusts.
Your wills and estates lawyer can also provide assistance with applying for Letters of Administration or a Grant of Probate.
Many lawyers also have working relationships with licensed financial planners, who can help you with related queries, including income protection insurance, life cover and trauma insurance.