Estate planning is an important aspect of your life as it allows you to create and execute the smooth transfer of property to your beneficiaries. This is a crucial part of your retirement planning and ensures the protection of your loved ones even after you pass away.
In Australia, the legal processes are authorised under the Australian Property Law, which applies to all states. The problem is there are over 35 thousand solicitors in New South Wales alone. This can make you confused as you run into various estate lawyers in Sydney and other locations in NSW. Here’s how you can pick the best one for you.
Identify the Legal Requirements
Any good Sydney will dispute lawyer will help you draft a will from scratch as well as customise it, and even dispute another one should the need ever arise. They also help you with proper estate planning concerning tax implications. With will customisation, you can protect any minor beneficiary and the adult beneficiaries from making bad decisions. In addition, it will also reduce the chances of running into creditor problems.
There are other aspects in which an estate lawyer can help, such as:
- Family disputes
- Divorcing spouses
- Estate administration under probate
- In case the will is challenged
- Pension funds
Also, legal advisors have expertise in different areas. While some may be good with general estate planning, others might be better at handling a disputed estate. So, you need to figure out your needs and search accordingly.
Learn About the Legal Authorities
If you have never consulted a solicitor before regarding your property, it is best to first educate yourself about the laws. The Law Society of New South Wales can be of help here. If you do not know where to begin, you can start from the free information available on their site. You can also follow their news feed for any updated rules and regulations on the matter.
This will not only help you in your search for the best estate lawyers Sydney, but also provide a better understanding to decide a proper course of action. You can also follow the Australian Law Reform Commission for more relevant information.
Research and Shortlist
Now that you have a basic understanding of what to look for start by searching for estate lawyers online. You need to go through the client reviews to get an idea of how well the firms handle their cases. It will also give you an idea of their success rate.
However, the trick is to have an open mind while doing this since there will always be some dissatisfied customers. Also, make sure that the lawyer you hire is licensed under the New South Wales Bar Association. You can also get referrals from your financial advisors to help you choose the best estate lawyers in Sydney.
Get a Quote
Any good law firm is aware of the processes and fees and can guide you in advance of the hearing. They can give you a prior guideline for various scenarios involving executor liability, estate litigation, and conflict of interest. Therefore, it is crucial to have a tete-a-tete with the solicitors before finally hiring them.
Also, by getting quotes for their services, you can compare them and choose the one that suits your budget.
Proper estate planning can save you and your loved ones a lot of hassle later. In this, a legal professional is your best bet. Fortunately, there is an abundance of estate lawyers Sydney. All you need to do is follow the above-mentioned tips, and you can find a suitable solicitor in no time.