Why You Should Get a Real Estate Attorney Before Buying Property

Real estate properties are among the most valuable assets you can own. Therefore, purchasing them requires a lot of competence in complying with the existing regulations.

Now, hiring a real estate attorney is not legally required. However, it sure is harder for non-qualified individuals to manage real estate law intricacies.

Whether we’re talking about residential or commercial real estate, a legal counselor is what could make the difference.

Don’t you want to enjoy a straightforward acquisition process? If you want to close the deal with no trouble involved, here’s what you need to know:

It’s Best to Leave Contracts to a Real Estate Attorney

Being represented by a real estate attorney means you won’t have to worry about contracts. 

Here’s why:

  • Lawyers can negotiate the terms and make sure you get the best deal.
  • They have the right to enforce necessary changes if they find any flaws.
  • They make sure the contract complies with all state regulations and addresses potential property issues.

real estate attorney

Besides contracts, there is other paperwork involved as well. Property acquisition deeds must be filed at the state level are a good example. You can file them too, but a real estate lawyer knows how every step and procedure works.

Title Searches Are a Professional’s Job

Real estate attorneys can perform title searches, which report if there is any legal impediment to the property being sold.

Such an impediment could be the existence of a lien. This is the right to keep possession of property belonging to another person until a debt owed by that individual is discharged.

You need to be sure that the seller has the legal right to trade and there is no lien involved.

In case the process was delayed due to legal issues from the seller’s part, attorneys make sure you get a discount.

After title search, the building needs to be physically examined by a team of experts. The inspection they perform has the role of outlining every relevant fact about the property. Attorneys are responsible for supervising this process too.

Attorneys Are Indispensable in Commercial Real Estate

Property transfers between corporations, trusts or partnerships pose more complex legal issues. Negotiations or contract preparations are more elaborate than in the case of regular belongings.

real estate attorney

A real estate attorney has knowledge of these business deals and what they entail. Commercial property transactions could be problematic if you consider the other party may decide to back out.

In this case, your attorney comes up with a procedure for damage recovery on your part.

Last but not least, take into account the fact the other party is likely to have their own lawyer. So, having a skilled attorney to represent your best interests is paramount.

Plus, don’t forget the hidden costs of real estate transactions are too much of a risk.

The bottom line is this: A qualified lawyer in property deals is a necessary investment if you don’t want to face financial or legal problems.

To avoid such issues, consider contacting us before planning the next move.

Facts You Need To Know Before Meeting With An Estate Planning Attorney

Meeting with an estate planning lawyer is a crucial step in making sure your belongings end up where they should. Still, there are some details you should know beforehand so you get the most out of working with a lawyer.

By having the right knowledge, you can save a lot of time and get the best results. Here’s what you should take into consideration.

What You Plan to Do with Your Belongings

Estate planning lawyers are not mind-readers. They will help you create a strong will that will hold up in court, but you need to communicate your needs clearly.

Before talking to a lawyer, you should have a definite plan for your estate, businesses, and other possessions. Many lawyers charge by the hour, so you can save money by doing some planning beforehand.

estate planning attorney

Don’t worry about changing your mind later on. The will can be revised to include your latest wishes. What matters is you know what you want. The clearer your goals are, the easier it will be for the lawyer to help you.

The Role of the Estate Planning Lawyer

An attorney can help you create a will, but that’s not all that is involved in estate planning. Here are some of the services they might offer:

  • Help reduce or eliminate estate tax.
  • Help manage the probate process with or without a will.
  • Pass your property and wealth to your loved ones in the manner you wish.
  • Making sure your property is protected from creditors.
  • Assist in putting your insurance policies, business interests, retirement plans, and personal property into trusts or business entities.

Talk to your estate planning attorney and ask about their full range of services. They might help in ways you haven’t considered.

Possible Additional Fees

While scheduling an appointment with an attorney, ask about their prices. Some may request a fee for the first meeting. Others may not.

Don’t expect the estate planning lawyer to give an exact sum over the phone. After talking to them and acknowledging all your options, your plans may change.

Still, getting a rough estimate based on the services you want should be possible. It’s how you make sure you hire a lawyer with reasonable fees.

The Importance of Reviewing Legal Documents

Wills, as well as business records, aren’t the type of documents you only work on once and never have to look over again.

Even if you don’t change your mind about certain aspects regarding the will, your assets need to be constantly monitored.

Without regular reviews, your documents and legal affairs might not be in order. You can’t afford to be taken by surprise because your wealth and assets may not end up where you intended.

estate planning attorney

Before meeting with your estate planning attorney, make sure they offer regular reviews of your documents.

During those reviews, the lawyer will offer you guidance on what actions you should take in the future.

Security of Your Assets

When it comes to the wellbeing of your loved ones, you need guarantees. After a plan is set in place and reviews are scheduled, you should rest easy knowing your wishes will be granted.

Talk to your attorney about possible risks and threats. You’ll want to make sure everything is in order. With experienced lawyers by your side, that won’t be hard to do.

We have served the Sturgeon community for over thirty years. If you would like our help preparing for the future, get in touch with us as soon as possible.

You can also call us at (780) 459-5596.

Why a Small Business Lawyer Can Enhance Your Company

Few companies can afford to make legal mistakes when they’re just starting out. That is why a small business lawyer is a smart initial capital expenditure.

But why choose the services of these lawyers? The reasons have to do with how hard the lawyer works for their client, among other things.

small business lawyer

Many people will recommend you get a general practice lawyer because they have cheaper rates.

While this may be true sometimes, their services won’t be enough.

We’re not saying general lawyers don’t know their stuff, but it’s better to get a lawyer whose practice focuses on yor area of law.  one. Eventually, you will get referred to one.

A specialized small business lawyer is better equipped to deal with your needs. The law is a complex and lengthy subject. General lawyers may dabble in many of its areas, but they almost never go into specifics.

You’d be surprised just how many things can go wrong for the average business owner without the help of a lawyer. Just take a look at how many responsibilities they have:

Responsibilities of a Small Business Lawyer

To improve your company image and operations, your lawyer needs to do any and all of the following:

  • Handle your lawsuits. Many people wait until it’s too late to get a lawyer. You can’t usually get one on short notice, so you should keep regular contact with one.
  • If you have a lease on your office or company building, you need a small business lawyer to negotiate it.
  • Want to file a trademark for your brand or a patent for your product? Lawyers can do just that.
  • If you work in the IT industry, you will need someone to draft your end-user license agreement (EULA).
  • Certain businesses may have unruly employees. Your lawyer can advise you when it’s time to terminate their contract, and can help file the paperwork.
  • They can oversee any corporate meetings and discuss the legal framework with all parties involved.

As we mentioned in the beginning, it’s better to seek the aid of a professional. You don’t want a general attorney to refer you to another two or three lawyers.

Most small businesses can’t handle that financial stress. And even if they could why should you waste time with so many people? It’s already hard enough running a small business nowadays.

small business lawyer

If you’re in the market for a lawyer for your business, be prepared to look for the following qualities:

  • An analytical mind and strong advocacy skills
  • Skilled communicator in both writing and direct speech
  • High intelligence, although this is inferred from the above
  • A passion for his or her work. You don’t need someone who will only work for the paycheck

There’s a highly tangled web of laws you have to respect when opening and running a small business. It’s no wonder it is the first thing company owners look into. You avoid a lot of headaches this way.

If you find yourself in that situation, call us today. We will assist your business in any way we can.

Real Estate Lawyers and The Secret Behind Successful House Acquisitions

Buying a house is one of the the biggest transaction of your life. That fact alone should make you think about real estate lawyers. You want things to run smoothly. You need security from a legal point of view.

Many realtors use the regular AREA (Alberta Real Estate Association) Contract standard house-contract form. This is a document you, as a buyer, will need to sign. It’s always a good idea to understand everything you’re signing.

Here’s how real estate lawyers are the secret behind successful home acquisitions:

Reasons to Hire Real Estate Lawyers

real estate lawyers

In some provinces, it is mandatory to have a real estate lawyer for closing the deal. Even if this is not the case for you, it is always a good idea to have one involved in the transaction.

You’ll most likely be buying from someone you don’t know. So, you can’t really trust that person. They might have their own lawyer who will not be looking out for your best interests.

It is wise to look for real estate lawyers in your area. They will know more details and can provide top-notch legal advice.

When you’re buying a house in a subdivision development, you should really use a lawyer. These properties usually have homeowner-association rules you need to understand. Lawyers are almost always mandatory when the property is in foreclosure.

Particular situations don’t end here. Generally, real estate lawyers in your area are legal experts. They know the property’s past. They know who owned it and what problems previous residents faced.

Contingencies in the Purchase Contract

A real estate purchase contract usually includes several points. Most of them are:

  • The mutually agreed price
  • A “good faith” deposit
  • House address and description
  • Terms of sale
  • Date of closing
  • Buyer’s conditions

While some of these points can be handled without a real estate lawyers’ help, others can’t. It is a good idea to hire a lawyer because he/she can help you a lot.

They have done this thing before. Their experience is useful for finding and solving the most common problems.

If an unfortunate event does occur such as a house flooding prior to possession they can help you through the situation and are a safety net. In case something unfortunate happens, you can sometimes even have the contract annulled. .

That is useful when you fear that your mortgage might not come through because of the unforeseen event, for example.

Get an Attorney for Title Search

real estate lawyers

The title search is a vital step in the home-buying process. The lawyer regularly performs it. That is done to make sure the property is free of any liens or judgments.

This search is done to verify that the person selling the house has the legal right to do so.

Making sure all liens has been satisfied is important. A lawyer can provide evidence for you. They can also convince the seller to give you a discount in case you have to wait.

Real estate purchases are complex processes. Having legal counsel makes the difference between a failed and a successful transaction. Understand that real estate lawyers want the deal to go through as much as you do.

Weary & Co. Law Office has been in the game for over 30 years. Our experienced team of attorneys provides legal help to the St. Albert and Sturgeon community.

If you have questions or are looking for real estate lawyers, call us or contact us online.

Questions to Determine If You Need A Probate Lawyer

Wills and estate planning represent a delicate issue. We don’t want to think about death whether it’s our own or the death of someone in our family. On top of that, we’re certainly not eager to plan for what happens after.

However, it’s best to start thinking about these issues sooner rather than later.probate lawyer can help you put together a will and make the whole process a lot easier.

Even if an individual has not created a will and passes away, a probate/estate lawyer can still help. These questions will help you determine if you need one. 

1. Do You Have a Will?

Some might say you can write the will yourself. However, that’s not always the best idea.

Failure to make a will that is legally sound can lead to liability lawsuits.

It’s best to ask for the advice of a probate lawyer who has the required expertise to ensure there won’t be any issues later on. The sooner you have the will written down, the quicker you’ll get this out of the way and put your worries to rest.

2. How Large Is Your Estate?

For the majority of all properties in the US, people don’t need to pay the federal estate tax.

probate lawyer

However, depending on how large your estate is, you may be required to pay the federal tax. This is where a probate lawyer can help you. They will file the estate tax return so you can rest assured everything is in check.

3. Can the Estate Cover All the Debts?

We know this is an uncomfortable question for many people, but it’s a important one.

If you’re not sure if there will be enough money, then you should consider consulting a probate lawyer.

Even though some debts may be more urgent than others, it’s best not to take any action before discussing with an estate lawyer.

4. Can the Assets of a Deceased Person Be Transferred without a Probate?

The answer to this question depends entirely on whether the deceased did any estate planning.

Here are the most common assets that don’t need the help of a probate lawyer to be transferred:

  • Assets held in joint tenancy or in a living trust
  • Tenancy by the entirety
  • Survivorship community property
  • Retirement accounts or life insurance policies that have a beneficiary

5. How Is the Relationship between Family Members?

If you know there is tension in your family, then there will most likely be disputes when it comes to your assets.

probate lawyer

A family member threatening to sue the estate is not something you should ignore.

A court battle is the last thing anybody would want. If you suspect something like this might happen, consult an estate lawyer as soon as possible.

Finding a Trustworthy Probate Lawyer

Based on your answers to the questions above, you probably know by now whether you need an estate lawyer or not.

If you’re in need of one, look no further. We are specialized in probate, power of attorney, will preparation and estate litigation.

The commitment we make to our clients and future clients is to protect their assets and ensure a smooth transition of wealth.

Call us at 780 459 5596 if you want to discuss your specific legal matter, or send us a message here.