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Protecting Your Estate With a Probate Attorney

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Published
10/31/2023

While probate lawyers can handle much of the estate's legal work, you are still responsible for many other tasks. These include contacting banks, identifying estate assets, closing accounts, filing final income and estate taxes, and communicating with heirs.

As a result, it takes more work to manage the entire process. This is where a probate attorney can provide specialized assistance.

Protects Your Assets

A probate attorney will ensure that all estate assets are accounted for and that any debts or taxes are paid. They will also distribute the remaining assets to heirs.

Additionally, a probate lawyer can assist in establishing advance directives like durable powers of attorney and healthcare proxies, which are used to handle a person's financial or medical affairs in the case of incapacity. An expensive and time-consuming court-appointed conservatorship can be avoided using these documents.

A competent probate lawyer should be well-versed in estate and probate law and have experience resolving situations comparable to yours. They should have excellent communication abilities and clearly explain complex legal ideas. They should also be able to estimate how long the case will take, especially if they are charging hourly.

 

Prevents Litigation

A probate attorney can help prevent disputes between heirs and creditors by ensuring that all legal requirements are met. This can include identifying and securing estate assets, filing tax returns, and settling debts.

Probate attorneys also have problem-solving skills, which they use to settle disputes and resolve issues promptly. They can also use their writing skills to prepare and edit important legal documents.

Whether or not you need a probate lawyer depends on several factors, including how comfortable you are with navigating probate, how complicated your state's laws are, and the size of the estate in question. Many probate lawyers offer a full-service representation model, but some may charge hourly or request a percentage based on the estate's value.

 

Addresses Taxes

Probate attorneys are experienced in dealing with various tax issues that arise during the estate settlement process. They help their clients prepare the necessary paperwork to ensure that federal and state taxes are paid promptly.

Additionally, they can assist with collecting tax liens on estate property and settle disputes regarding inheritance tax. They can also advise their clients about setting up a trust to limit the impact of inheritance taxes on beneficiaries.

Before you hire a probate attorney, ask them about their fee structure. Some probate attorneys charge a flat rate, while others request a percentage of the estate's gross value—additionally, some attorneys bill in 15-minute increments, which can add up quickly. Hiring an attorney specializing in probate law and who knows the judges in your jurisdiction is best.

 

Pays Debts

When someone dies, they leave behind a collection of debts. These are often the result of credit card, mortgage, or other financial transactions before their death. These debts must be settled as part of the estate process.

A probate lawyer can help identify these outstanding debts and arrange for their settlement. They can also assist in selling assets such as real estate, intellectual property rights, or even businesses.

Hiring a probate attorney can save you time and money. They can also ensure that your loved one's wishes are fulfilled. They can also help resolve disputes between family members over inheritance and other issues. In some cases, they may even act as mediators. Many people choose to hire a probate attorney because they do not want the responsibility of handling these complicated legal and financial matters alone.

 

Settles Disputes

The probate process ensures that estate assets are distributed according to a deceased person's wishes and that creditors and taxes are paid. However, it isn't uncommon for disputes to arise during the proceedings. These disputes can often cause delays and significant legal fees.

Probate attorneys use their problem-solving skills to settle these disputes. They also use their writing skills to draft and prepare important legal documents. They are often required to file initial pleadings, conduct discovery, and even participate in mediation.

It is essential to choose an attorney who specializes in probate law. This will ensure they know the judges who will hear your case. They also know how long the entire process may take and can offer you a more accurate estimate of costs.

 

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