Probably the top question regarding wills and estate law in Brisbane is, do you need an estate planning lawyer? Estate planning is a complicated, involved process, and working through the intricate details when establishing one can be a huge job. As the estate plan will become a legally binding document, the information it contains, and the language used has to be right.
An Estate Planning lawyer has the expertise and knowledge to lighten the workload and create the desired document with ease. Not only will one of these legal professionals draft up a Will, but they can offer you advice and guide you on how to best manage asset distribution and trust establishment. These are quite honestly not do-it-yourself tasks.
What You Can Expect From An Estate Planning Lawyer
Simply put, an estate planning lawyer is an experienced solicitor who specializes in wills and estate law in Brisbane. A wills lawyer in Brisbane can assist in the creation of a Will, Power of Attorney, establishing Trusts, administrating estates, and other end-of-life matters. They will also aid you in receiving Grants of Probate. In other words, an estate planning lawyer can help you with your estate plan in Brisbane.
What An Estate Planning Lawyer Will Do
There are two key scenarios where wills and estate lawyers in North Brisbane are required. Aside from assisting with the drafting and updating of Wills, they handle the following:
Scenario 1 - The Preparation and Planning Stage
An estate planning lawyer will aid in the steps required in estate planning before the named person dies. This may include such documents as the Will, Power of Attorney, the details on how assets will be distributed, establishing testamentary trusts (or self-managed superannuation funds), and all other matters that fall under the category of end-of-life planning.
Scenario 2 - The Estate Administration Guidance Phase
After the Will creator passes away, an estate planning lawyer can be utilized to administer the Estate. They do this by assuming the role of an Executor. Or a wills lawyer can be used to contest a Will.
Do You Need An Estate Planning Lawyer?
If your Will is simple and uncomplicated, you probably don’t need the services of a wills and estate lawyer in North Brisbane. You can create your Will through a Will kit which will result in a legally binding document that you did yourself in the comfort of your home. You can also update your Will simply and easily without the use of a legal professional.
However, if your estate is somewhat more complicated, and you want to keep your family members from facing legal issues or a disputed estate after you pass away, consulting with a wills lawyer can help. It is important to remember that although writing a Will yourself can be a simple task, there are standards to meet that can determine the validity of the documentation by the court system. A wills and estate lawyer will have the knowledge and expertise to meet those standards so that your estate plan is recognized legally.
What A Simple Will Costs
The cost of a simple Will varies. The general rule of thumb is that the more complicated it is, the more it will cost to draw up. However, you can expect a flat fee somewhere between $400 and $500. A Will that has several complex elements to it can cost in the range of $1,500 to $2,000. An online Will kit service or a take-home DIY Will kit can cost around $100.
For Assistance with Estate Planning In Brisbane, Contact GKS Law Today
GKS Law is your wills and estates law firm in North Brisbane. Contact them today to discuss your estate planning needs. GKS Law has lawyers who specialize in estate law. Count on them when you need either a Will or estate planning advice.
Conclusion
Having a Will or estate plan is a good idea. This way, your wishes regarding the distribution of your assets can be carried out as you intend. While you don’t necessarily require a lawyer to draw up a simple Will, you should consult with one if your Will is complicated. Consulting a legal professional is also helpful when it comes to estate planning as certain guidelines must be met to ensure that the documentation is legally binding.