What is an Estate Attorney?
Estate attorneys are attorneys who specialise in the processes of estate planning, which is to outline the distribution of property and management of assets after a person’s death. Estate attorneys assist in various areas related to estate planning, and is close related to family law.
This means drafting and implementing legal documents, including wills and trusts. Simply put, estate planning is the preparation for the transfer of a person’s wealth and assets after his or her death, and to which an estate attorney is necessary. Wealth being assets, life insurance, pensions, real estate, cars, personal belongings, and debts, and which all forms part of one’s estate. An estate attorney is tasked to assist and draft the documentations that will be necessary at the end of one’s life to satisfy the deceased’s wishes in what happens to his or her estate. Estate attorneys, or estate attorneys South Africa, also deal with wills and trusts. A trust is typically used to minimize estate taxes and can offer other benefits. A trust is a fiduciary arrangement which allows a third party, or trustee to hold assets on behalf of, and for the good of, one or more beneficiaries.