When you are left as the executor of an estate after someone in your life passes away, you may or may not have to go through the probate process. Probate is a process that takes place to settle outstanding debts, handle distribution of assets, and ensure those designations in the will are properly carried out and is usually only necessary if an estate is specifically complex or complicated. Here is a look at some of the most common questions people have about probate and hiring a probate attorney.
Do you have to hire a probate lawyer?
Most states do allow you to go through the probate process without an attorney. However, with that being said, going through probate without an attorney to guide you can be a bad idea. These professionals have years of experience with dealing with what can be a highly confusing process. In order to settle the deceased person's affairs in a prompt, correct way, having an attorney is a good plan of action. This makes it less likely that you will have issues later on because something was overlooked through the probate process, and also makes it less likely that something that happened during probate can be later contested by an outside party.
Does every part of an estate have to go through probate?
Not always. In a lot of cases, when it is clear which assets are directed to what individual or entity because of a standing will, these assets may not be part of the probate process. However, there are also a lot of circumstances when even clearly designated items have to go through probate, especially if an estate has outstanding debts associated with those particular assets. For example, if the deceased owned a piece of property, but the property had a lien, it may be necessary for that property to be included in probate to determine how it is handled.
Can the probate attorney help you with items that are part of an irrevocable trust?
The assets that are left behind as part of an irrevocable trust do not go through probate. However, your chosen probate attorney can help you if there are issues with these assets. For example, if a bank account and its holdings are left behind but the person the account is left to is deceased, your probate attorney can help you through the process of freeing up this account to benefit the estate.
For more information, contact a local attorney like like Patricia K Wood Atty.
Share8 February 2018
I was blessed to have grown up in a home with loving supportive parents. They both worked extremely hard in order for me and my sister to enjoy a better life than they had. Financially, they bought me a new car when I was sixteen. They also paid for my college expenses. Many parents do the same for their kids. They want to provide for them in the present while safeguarding their futures. One way parents can invest in their kids’ futures is by placing money in trusts that their children can utilize when they reach a certain age. A reputable attorney can establish beneficial trusts for your kids. On this blog, you will learn about the benefits of consulting with an attorney about setting up trusts for your children.