Nothing is more painful than the loss of a loved one. Additionally, the probate process could be a tricky thing, mainly when family conflict and taxes come into play. That said, perhaps you have to deal with the probate process but aren’t sure where to even start. Well, worry no more, as this article covers all you need to know regarding probate law, it’s working, and when to hire a probate lawyer.
Probate is simply a legal procedure that happens after an individual’s death. In it, the legitimacy of the deceased individual’s will gets verified, and someone (friend or family) is appointed as its executor. The executor is responsible for managing the will’s estate as well as distributing assets like property to those mentioned in the will.
If no will was left behind, the probate process is utilized to establish to whom and what quantity of the deceased assets need to be distributed.
In simple terms, the probate process deals with all aspects of estate distribution like:
- Validation of the deceased party’s will
- Appointing an estate representative, executive, or administrator
- Determining the worth of all the assets within the estate
- Paying off any pending estate debts or taxes
- Identifying the heirs or beneficiaries and asset distribution
When you should hire a probate lawyer
Now that you understand the probate process, it is time to know when you should hire a probate lawyer, aka a wills and estate lawyer.
1. When the estate is not big enough to cover all its debts
You should hire probate when you realize the estate does not have enough cash to pay debts, final taxes, funeral costs, and/or medical bills. A probate lawyer can help you to know what to do in such a situation.
2. When the estate is large enough to pay taxes
When the estate is large enough to pay federal taxes, you should contact a probate lawyer to help you sought everything out as efficiently as possible.
3. When you do not know what do to
You should contact a will and estate lawyer when you do not know what exactly to do with a will.
4. When you want help to figure out the whole process
A probate lawyer can help you to figure out the entire process and lessen the stress and anguish during this difficult time.
If you are thinking about getting a probate lawyer, contact Francis Lawyers for professional help. They are a reliable law firm specializing in Real Estate Law, Family Law, Wills and Estate, Corporate Law and Civil Litigation. They can offer you advice and guidance through all legal affairs.