Should I hire a Lawyer in Sydney?
After the passing of a loved one, managing their estate can become a perplexing and time-consuming undertaking, particularly if the estate is intricate. Families often grapple with the question of whether to enlist the services of a lawyer for estate probate.
The decision to involve a lawyer hinges on factors such as the estate's size and the specific family circumstances. In cases where the estate is uncomplicated and relatively small, executors or administrators may find that they can successfully conclude the process without the intervention of a lawyer. Smaller estates might not even necessitate a Grant of Probate.
Conversely, certain situations may prove more intricate, requiring professional guidance.
For a deeper understanding of what is required to administer a deceased person's estate, you can refer to our article here.
2. DISAGREEMENT AMONG MULTIPLE EXECUTORS: When a Will designates multiple executors who struggle to reach a consensus on estate administration decisions, legal consultation can prove useful.
3. FAMILY DISPUTES ARISING: In cases where a disgruntled family member intends to challenge or contest the Will, seeking legal advice is prudent. Legal proceedings resulting from such disputes can consume more time and money than anticipated, affecting the funds available for beneficiaries.
4. LARGE OR COMPLEX ASSETS: For estates containing substantial or intricate assets, such as a business, legal assistance becomes valuable. Professional advice is crucial when managing, appraising, and selling substantial assets.
5. INSOLVENCY OR INADEQUATE FUNDS TO PAY DEBTS: When the estate appears insolvent, lacking sufficient funds to settle debts and taxes, legal guidance is essential. Understanding the priority order for paying creditors according to state laws is crucial to prevent potential liability for the executor or administrator.
Conversely, there are circumstances where administering an estate without legal aid is feasible. The more factors that align with your situation, the smoother the process for the executor or administrator:
- If most or all of the deceased person's property can be transferred without a Grant of Probate.
- If the estate lacks complicated assets like a business.
- If there are no disagreements between multiple executors or disgruntled family members.
- If the estate is solvent.
- If the executor or administrator possesses the capability to wrap up the estate without legal assistance.
Navigating the intricacies of estate probate requires careful consideration of the unique circumstances involved. Funera Sydney is here to offer support and guidance during this challenging process. Feel free to reach out to us for information or assistance tailored to your specific needs.