When To Hire An Estate Lawyer

An estate plan allows you to arrange your affairs in order. It ensures that your property is distributed the way you want after your death or, in the event of you becoming incapacitated, someone you trust will make financial and medical decisions on your behalf. An experienced estate lawyer can help you draft a robust plan for such situations. They can provide expert advice on the last will and testament, living trusts, probate process, and more.

Working with an estate lawyer can be beneficial in many situations, though not everyone will need one. Keep reading to learn more about what estate lawyers do and when you should hire one.   

What is an estate lawyer?

Estate lawyers, also referred as estate planning attorneys, estate law attorneys, or probate lawyers, are licensed law professionals with deep understanding of laws, both federal and state, that will affect your estate. 

What are the tasks and responsibilities of an estate lawyer?

An estate lawyers can help you create legal documents so that your assets are distributed according to your wishes after your death, without any big tax bills or lengthy court battles. Apart from ensuring a smooth administration of your estate after your passing, they help you prepare for the possibility of becoming incapacitated. Some estate lawyers may even help you plan a business succession. 

Here are some tasks an estate lawyer can assist you with: 

• Creating a Will
• Setting up of a living trust or testamentary trust
• Transferring of your assets into the trust and administering it
• Creating a durable power of attorney 
• Appointing a guardian for your minor children
• Making a plan for donating money to charity after death

When to hire an estate lawyer

In many situations, it makes a lot of sense to hire an estate lawyer. But in others, you can do without one. Here are some common situations in which you may want to consider hiring an experienced estate planning lawyer: 

You have an out-of-province assets or property.

‍Because two provinces may have different legal requirements, passing on property or assets can be a little tricky if they are spread over multiple provinces. 

You have minor kids.

Proper estate planning is paramount if your kids are minor. You must appoint another adult to manage your assets until your kids reach the age of majority. This typically requires setting up a trust, which is more complex than a Will. 

You run a small business

If you run a small business and need help with succession planning.

You want to donate money or assets to a charity after death.

With proper estate planning, you can establish a charitable trust and qualify for a tax break. 

You have a beneficiary with special needs.

‍If you provide for a loved one with special needs, an estate lawyer can help you set up a special needs trust (SNT) to provide financial security to them without affecting their eligibility for government benefits. 

You want to set up an irrevocable trust

‍An irrevocable trust can protect and preserve assets that might otherwise be lost to creditors or become eligible for government programs. Since you cannot change or end an irrevocable trust after its creation, it’s best to consult an estate planning lawyer to understand whether it is a right fit for your family. 

You have a blended family

You want to ensure each family member, such as a stepchild, half-sibling, or step-parent, is cared for if anything goes wrong. People with blended families usually confront unique estate planning problems — for example, unless you name them in your Will, your stepchildren do not have any rights to your estate. An experienced estate planning lawyer can help you create a thorough estate plan so that your estate is distributed exactly the way you want, regardless of a family member’s inheritance rights or lack of it.  

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Situations where hiring an estate lawyer is not required

Now that you know when to hire an estate lawyer, let’s look at the situations where you can do without one.  

Much of what you own is in beneficiary-designated accounts.

‍If much of your life savings are in beneficiary-designated accounts, such as RRSP and TFSA, you may not benefit from hiring an estate lawyer. That’s because funds parked in these accounts are passed directly to the beneficiary named on the account, bypassing your Will. 

You have a small, uncomplicated estate.

‍If you have a small, uncomplicated estate, a Will alone may be sufficient. With so many online will and estate planning software out there, creating a Will today is simple and easy. That said, for complex situations it is usually best to consult an experienced estate planning lawyer.  

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What you should look for in an estate lawyer?

Creating the right estate plan can seem overwhelming at times. Choosing a right lawyer can help ease your stress a great deal as you plan ahead. Here are the four important qualities to consider when searching for the right professional to put your affairs in order. 

1. Experience and qualifications: Select an estate planning attorney with years of experience, qualifications, and credentials to back up their claims. 
2. Professionalism: Many estate lawyers offer a free initial consultation to help clients get to know them. Use it to find out how professional the lawyer is and whether you are comfortably discussing private family matters with him or her. 
3. Additional expertise: In certain situations, having an estate attorney with additional expertise may prove helpful. For example, if you have a chronic or degenerative medical condition that may lead to incapacity or require in-home care, you may benefit a great deal from an estate lawyer with expertise in elderly law. 
4. Transparency: Knowing how much it will cost you to hire an estate attorney upfront is important. Therefore, you may want to go with someone who is honest and forthcoming regarding the final bill.  

Conclusion

Estate lawyers can help you with your end-of-life arrangements, from Wills to power of attorney. People with simple, small estates may be able to meet their estate planning needs without a lawyer, but for more complex estates, an experienced estate planning lawyer is worth the cost. If you have out-of-province assets, a special needs child, or a blended family, run a business, or want to set up a trust or a power of attorney, you can benefit from having an estate lawyer by your side. 

Frequently Asked Questions (FAQs)

How can an estate lawyer help me with estate planning?

An estate lawyer can help you with multiple aspects of estate planning. He or she can prepare a Will or other estate planning documents, establish power of attorney, help you understand the type of trust that will work best for your family, and identify ways to reduce your tax burden and bypass the probate process. 

Do I need an estate lawyer if my estate is small?

If your estate is small and uncomplicated, you may be able to get by just fine without the help of an estate planning lawyer. That said, if you are planning to set up a general or durable power of attorney (POA), it may make sense to first consult a lawyer.

What do lawyers charge to probate a will in Ontario?

The cost of getting a Will probated in Ontario depends on the value of your estate. Probate fees in Ontario are: 

• $5 for every $1,000 of assets up to $50,000
• $15 for every $1,000 or assets over that amount