The Essential Role of a Lawyer in Drafting your Will

HHG Legal Group Special Counsel, Lucy Ferreira, and Lawyer, Maria Zappala, have provided guidance on the essential role of a Lawyer in will drafting.

The Essential Role of a Lawyer in Drafting your Will

In an era where convenience often reigns supreme, the temptation to opt for quick-fix solutions like post office Wills or online Will services can be alluring. However, when it comes to safeguarding your estate and ensuring your final wishes are honoured, the expertise of an experienced lawyer is essential. We have set out a few of the many reasons why you should trust HHG Legal Group’s experienced estate planning team to draft your Will.

Expertise and Experience

Drafting a Will involves more than simply listing assets and beneficiaries. It requires a deep understanding of legal intricacies and personalised attention to your unique circumstances. At HHG Legal Group, our team of experienced estate planning lawyers brings years of expertise to the table. We approach Will drafting with compassion, empathy, and meticulous attention to detail which will ensure that your Will accurately reflects your wishes and complies with all legal requirements.

Tailored Solutions

Unlike generic templates used by post offices or online Will services, a lawyer can provide tailored solutions that address your specific needs and concerns. At HHG Legal Group, we will take the time to listen to your goals and objectives, offering personalised advice in order to draft a Will that reflects your individual circumstances. Whether you have complex family dynamics, unique asset structures, or specific charitable intentions, we can tailor your Will to suit your needs, ensuring that your legacy is preserved, and your loved ones are provided for according to your wishes.

Examples of Will Clauses

As part of our comprehensive Will drafting services, we can include various clauses to address specific concerns and objectives. Some examples of these clauses include:

1. Testamentary Trusts: These trusts are established within a Will and come into effect upon the testator’s death. They allow for greater control over how assets are distributed, providing benefits such as asset protection and tax efficiency. For example, a testamentary trust may be used to provide ongoing financial support for minor children.

2. Charitable Gifts: Many people choose to include charitable bequests in their Wills to support causes they care about. These gifts can take various forms, such as a specific dollar amount, a percentage of the estate, or the donation of a particular asset. For instance, a testator may leave a portion of their estate to a local charity or foundation that aligns with their values.

3. Guardianship Clauses: These clauses designate preferred guardians for minor children in the event of the testator’s death. Often, testators choose to appoint a close family member or friend as the guardian of their children and leave gifts to their chosen guardian.

4. Gift-Over Clauses: These clauses determine what happens if a primary beneficiary is unable to inherit their gift. For instance, if a primary beneficiary predeceases the testator or disclaims their inheritance, the gift may pass to an alternative beneficiary specified in the Will. This ensures that assets are not left in limbo and provides clarity regarding their distribution.

 Benefits of Understanding How Assets are Held

In addition to identifying what assets you have, it’s equally important to understand how they are held. This includes considering whether assets are held jointly with another person, in a trust, or in a corporate structure. The way in which assets are held can have significant implications for their distribution upon your death. For example, assets held jointly will typically pass directly to the surviving joint owner outside of the Probate process. Similarly, assets held in a trust may be governed by the terms of the trust deed rather than your Will. Understanding these nuances is crucial to ensuring that your estate plan accurately reflects your wishes.

Choosing an Executor

Selecting the right Executor is a crucial decision in the estate planning process. An Executor is responsible for administering an estate according to the terms of the Will, including gathering assets, paying debts and taxes, and distributing property to beneficiaries. Executors have fiduciary duties to act in the best interests of the beneficiaries and must navigate complex legal and financial matters, communicate effectively with beneficiaries, and ensure that their obligations are met in a timely and efficient manner. We can help you choose an Executor who is trustworthy, reliable, and capable of carrying out their duties effectively. We can provide guidance on factors to consider when selecting an Executor and ensure that your choice aligns with your wishes and the needs of your estate.

Extensive Network of Advisors

At HHG Legal Group, we understand that estate planning often requires input from various professionals, including financial advisors and accountants. That’s why we have built an extensive network of trusted advisors to provide holistic guidance and support. Whether you need assistance with investment strategies or tax planning we can connect you with experienced professionals who can help you achieve your financial goals and objectives.

Safe Storage

Proper storage of your Will is essential to avoid complications in the future. If a Will is misplaced or damaged, serious questions will likely be raised about its validity, potentially leading to disputes among beneficiaries. At HHG Legal Group, we offer free safe custody for our estate planning clients to provide them with the peace of mind that their important documents are securely stored.

Conclusion

In summary, while post office and online Will services may offer convenience, they often fall short in providing the personalised attention, legal expertise, and comprehensive solutions necessary to protect your estate effectively. By working with HHG Legal Group’s experienced estate planning team, you can ensure that your final wishes are accurately documented, your assets are protected, and your loved ones are provided for according to your wishes.

How can HHG Legal Group help?

 If you need advice unique to you, an appointment with one of our wills and estates or litigation lawyers might be suitable. Similarly, if you have been appointed as an Attorney and need guidance on exercising your powers, we can assist. Finally, we can advise persons who are considering taking action against a delinquent Attorney.

Remember, it’s important to seek professional legal advice when dealing with matters of an EPA to ensure all actions are compliant with the law.

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*The information provided in this website serves as a general guide and does not constitute legal advice. It is based on our research and experience at the time of publication. Please consult our knowledgeable legal team for any specific inquiries or advice relevant to your circumstances, as the content may not have been updated subsequently.