Give free legal advice but make it known that you are doing them a huge favour. Make them feel good about it, so that they refer you work in the future.
Tell them you specialise in a different field. If they ask for property advice, say you do criminal law. Or you may make up something fancy that can just go over their head.
Tell them that there is a difference between a corporate lawyer and a litigation lawyer just like there is a difference between a cardiologist and a neurologist. I hope they don't go to a neurologist with heart problems, similarly, you can't go to a corporate lawyer with your property disputes. Just give them a brief overview of the situation which isn't very difficult and then say that you need to look at all the documents to understand what the exact situation is but you don't have enough time for that so they should consult a litigation lawyer.
How do you folks deal with friends and family asking for free legal advice on their property disputes, wills and what not? I feel extremely uncomfortable dishing out any advice to relatives coming up to me and asking me advice on issues that I have no experience working on. Although I can take out a few hours to do my research, it feels wrong and I feel rather unqualified due to lack of experience in those matters. Most of them don’t understand the difference between a corporate vs a litigation lawyer, so how can I go about politely declining without making them think that I want their money or that I am simply not knowledgeable enough and a bad lawyer? Am I a bad lawyer in this scenario?
It works.