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Have you ever wondered what real estate lawyers in Etobicoke do and why they’re so important?
Let’s dive into it and break down how these estate lawyer in etobicoke pros help out when it comes to dealing with estates and properties in our neighborhood.
Real estate lawyers in Etobicoke are like the savior of the property world. They help with all the legal stuff when someone passes away and leaves behind a home or other assets.
They guide people called estate trustees through the process of handling these assets, making sure everything is done right and following the law.
When someone passes away, one of the first things estate trustees need to do is apply for something called a “certificate of appointment of estate trustee.” This fancy document gives them the power to manage and distribute the deceased person’s stuff according to their wishes in the will. Real Estate Lawyers in Etobicoke are there from the start to help estate trustees through this process smoothly.
Estate trustees have a big job. They have to figure out all the stuff the deceased person owned, like money in the bank, jewelry, and property deeds. Real estate lawyers help them keep track of everything and make sure it’s all handled properly.
They also make sure the trustees talk to everyone who’s supposed to get something from the estate, so everyone’s on the same page.
There are strict rules estate trustees have to follow, set by the Ontario Superior Court of Justice. Real estate lawyers know these rules inside and out.
They help estate trustees fill out paperwork correctly and make sure everyone who has a right to the deceased person’s things is notified properly. It’s like having a guide to help you navigate through a maze of legal stuff.
One important thing estate lawyers in Etobicoke help with is estate taxes, also called probate fees. These are fees that need to be paid upfront when estate trustees file their application.
The amount depends on how much the deceased person’s estate is worth. Real estate lawyers explain these fees to trustees and make sure they pay them correctly and on time.
Did you know estate trustees can get paid for their hard work? Yes, even if it’s not mentioned in the will. Real estate lawyers help figure out how much trustees should get paid.
It’s usually a percentage of the estate’s total value, including any money that’s been distributed or earned by the estate.
So, here’s everything on understanding how real estate lawyers in Etobicoke help with estate matters. They’re there to guide estate trustees through the whole process, from getting the legal power to manage the estate to making sure everything is done right according to the law.
If you ever find yourself in a situation where you need help with an estate, reach out to Humber Bay Law and our experienced lawyers can make a big difference. They’re like your go-to experts who make sure everything runs smoothly and fairly.
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