Ensuring that all your life affairs are in order can seem daunting but knowing what an estate attorney does could help.

Our experienced editorial team has put together this simple guide on estate attorneys so you know when and how to reach out to one.

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What's an Estate Attorney?

An estate lawyer specializes in estate planning and assists individuals in arranging their affairs to ensure their estate is handled smoothly.

One of their main roles is to draft and prepare legal documents such as trusts and wills.¹

5 Roles of an Estate Attorney to Know When You’ll Need One

Estate attorneys work within the realm of estate law.²

They play a critical role in ensuring that your assets are managed and distributed according to your wishes.

Whether you're planning for the future or dealing with the complexities of an estate after a loved one has passed, an estate attorney can provide invaluable assistance.

Here are five key roles an estate attorney can fulfill, along with situations when you might need their expertise:

#1. Drawing up a Will

Firstly, it’s never too late to draw up a will. If you haven’t, you must get in touch with an estate attorney today.

If you don’t want to leave everything to your spouse and children or avoid arguments between family members, drawing up a will is vital.

While writing up an informal will is an option, that document is easily contested and doesn’t come with the guarantees of a professionally drawn-up legal document.

In such cases, an estate attorney is essential.

#2. Inheritance Taxes and Probate Tax-Reduction

The last thing you want is your family to be in trouble for not paying the appropriate taxes.

In addition, without professional support, you could end up paying more than you need to.

While enlisting the services of an estate attorney can be costly, appropriate legal advice can help you save thousands of pounds.

#3. Writing Living Wills

While none of us ever want to consider this, the fact of life is that we all could end up mentally or physically incapacitated.

A living will highlights your wishes, should you end up in such a position.

This includes who you want to live with and who’ll manage your estate, taking the burden of these crucial decisions away from your nearest and dearest.

#4. Setting up a Trust

A trust ensures that your hard-earned pounds are being used how you intended them to be.

This is an alternative to leaving everything in the hands of your children, who might not be ready for such a big responsibility.

#5. Determining Legal Guardianship for Your Minors

While most of us don’t wish to die when we have young kids, it could be a horrible reality some might have to face.

If you don’t want your children to be in the hands of your family members, it’s vital to get an estate attorney involved to help set you in the right direction.

Estate Lawyers in the Equity Release Process

Estate lawyers will play a role in the equity release process when it comes to the loan being repaid.

An estate lawyer will usually have the responsibility of paying the lender the correct amount once the home is sold out of the estate.

If any beneficiaries would like to keep the property an estate lawyer may be able to advise them of the best way to pay off the loan via other means.

Common Questions

In Conclusion

No matter what stage you are in your financial journey, there’s no doubt that you’ll come across an estate lawyer in the process of securing your legacy and your heirs’ financial future. 

In addition, seek guidance from a professional financial advisor throughout the process.

The good thing is that when they mention an estate attorney, you'll know exactly what they do.