Matthias Duensing uses the wealth of experience and knowledge he has acquired from his Trust and Estate Practitioner (TEP) license to offer his customers advanced estate planning services. He has extensive experience navigating the complexities of succession planning and inheritance as a reputable wills and estates lawyer in Toronto.
Members of the Society of Trust and Estate Practitioners (STEP) are granted the TEP designation, which denotes a Trust and Estate Practitioner. A worldwide professional organization, STEP is devoted to professionals specializing in succession planning and family inheritance. Its members are dedicated to maintaining high standards in trust and estate practice and come from various industries, including legal, accounting, trust, banking, and insurance.
Earning the TEP designation takes a mix of specific training and real-world experience. Practitioners must have a high degree of expertise in executorship administration, related taxes, and the planning, development, administration, and accounting of trusts and estates. This guarantees that TEPs have the thorough knowledge to provide customers with insightful advice on intricate estate issues.
TEPs are experts in inheritance and succession planning, offering services that include:
- Drafting Wills and Trusts: Creating legally binding documents representing customers’ desires.
- Estate Administration: Managing the distribution of assets in line with the customer’s wishes.
- Trusteeship: Managing and safeguarding assets.
- Family Financial Structuring: Giving advice on the best financial arrangements to maintain compliance and safeguard wealth for future generations
TEPs deal with various situations, including helping clients effectively give to charities, caring for elderly or vulnerable family members, helping families with cross-border interests that adhere to international laws and tax regulations, assisting in the tax-efficient transfer of family businesses, and offering estate planning strategies to people who have lost partners.
Selecting a wills and estates lawyer with a TEP designation has several benefits:
- Expertise: TEPs have verified credentials and experience, making them acknowledged experts in their industry.
- Integrity: They uphold a strict Code of Professional Conduct, guaranteeing behaviour that fosters respect, trust, and confidence.
Continuous Knowledge Development: TEPs are dedicated to continuing their professional growth and staying current on the latest advancements in technology, law, and regulations that could affect their clients. - Global Network: By having access to a global network of more than 22,000 advisers and experts, TEPs are able to exchange knowledge and skills across geographical and professional borders, providing customers with a thorough and knowledgeable service.
Clients who work with a TEP-designated attorney like Matthias Duensing gain access to a specialist who combines extensive knowledge, moral behaviour, and a dedication to protecting family wealth for future generations.
Estate planning is very important in many family structures, including blended families where couples may have children from past relationships. If cautious planning is not done, unintentionally disinherited children are a possibility. A TEP can offer customized tactics to guarantee that the client’s desires are followed in distributing assets and that the interests of every family member are safeguarded.
Additionally, a TEP’s global perspective and comprehension of cross-border legal and tax ramifications are helpful for clients with foreign assets or beneficiaries. They can negotiate the complexity of many jurisdictions to guarantee compliance and maximize the preservation and transfer of wealth.
The TEP designation is a mark of distinction in the practice of trust and estate law. Attorneys with this qualification, such as Matthias Duensing, provide clients with a high degree of experience, honesty, and individualized attention, guaranteeing that their estate planning requirements are handled with tact and consideration.
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