Have you been grieving the loss of a loved one recently? Are you dealing with the probate process but unsure how to start? You might not know which type of attorney you need or when you should hire one.
The procedure of probate can be challenging in its own right. Especially when there is a quarrel within the family or money is involved. But you have nothing to worry about because we are here to assist you with all of your probate concerns. When you consult a professional estate planning attorney from easlerlaw.com, they can efficiently guide you through the probate process, giving you a sense of safety even under challenging circumstances.
What is a Probate?
Probate, also known as “estate management,” is the process used to govern the estate of a deceased person to make it accessible to the individuals permitted by law to collect it. The deceased individual’s will must also be proven valid before the probate process can begin. If an individual does not leave behind a will, determining how the assets should be distributed would most likely be handled by a probate court.
Due to state jurisdiction, any asset a deceased person owned and left behind must go through probate. A property that has a specified beneficiary or legal rights of survivorship is the only kind of property that does not have to go through this process.
Depending on the estate’s size, the probate process administration might take anything from a few weeks to many years. The length of time required to resolve probate matters is also affected by factors such as whether or not individuals file claims or petitions in probate court.
How Can Estate Planning Attorneys Help?
Nobody understands the many complexities of this legal field better than a lawyer specializing in estate planning. These experts provide legal advice on federal and state law, draft documents for estate planning, and assist you with complicated matters that arise as you go about the tricky business of settling your affairs after a loved one’s death.
When a person passes away, the state mandates that their belongings must be dispersed by the rules of the state and the wishes they expressed in their will before passing away. A lawyer specializing in estate administration or probate law can provide the beneficiaries and executors of a will or estate with legal guidance.
What do Estate Planning Attorneys Do?
Because of the many various aspects of estate planning, it can be challenging to nail down the many ways in which estate attorneys can be of assistance. To begin, they must obtain a license through a state bar organization, just like any other attorney. This is standard practice across the legal profession. On the other hand, companies and lawyers that focus their practices on estate planning have years of devoted experience that they can draw from. The following are some instances in which having an attorney who plans estates can be helpful.
Drafting Legal Documents
Estate lawyers have extensive experience putting pen to paper and preparing legal agreements that effectively communicate their client’s desires. They can help you prepare:
- Testament
- Living will
- Power of attorney
- Trust
Designating Beneficiaries
Your choice of who should receive can be assisted by an attorney specializing in estate planning. Not only can your estate attorney aid you in identifying all of your property and assets, but they can also assist you in determining who will be the beneficiaries of your estate. Someone you have chosen to inherit your wealth or property after your death is a designated beneficiary. In some cases, only an equitable distribution of assets among family and friends is required. At other times, it may be more challenging and include making difficult decisions about one’s personal or professional life.
Establishing Legal Guardianship
Parents of minor children must incorporate information about their preferences on childcare in their wills. Attorneys specializing in estate planning are aware of the numerous considerations in determining child custody. In addition, seasoned attorneys have written guardianship information in previous wills, and they know how to write your will in a way that is compliant with the standards of the court system in your community.
Dealing with Taxes
Another area in which having the assistance of a professional estate attorney may be of tremendous use is taxation.
Only estates with a total value of more than $11.7 million are subject to the federal estate tax, ranging from 18 to 40 percent of the estate’s value. On the other hand, some states have their estate taxes or inheritance taxes. Consultation with a local estate planning attorney can assist you in navigating these uncharted seas and offer you legal guidance that aligns with the laws and governance of your community.
Avoiding Probate Court
The court known as the “probate court” is the one responsible for resolving any disputes involving a deceased person’s property and debt. Because it is a process that may be time-consuming, costly, and open to the public, probate attorneys advise their clients on best practices for avoiding or minimizing the amount of their property that will end up in probate court.
A competent attorney will evaluate your personal and financial situation and provide tailored representation to your needs. Your attorney will help you organize your assets, so the court will not have to administer probate for as much of your property as possible. This may involve transferring assets into a trust for the benefit of beneficiaries or delivering assets to recipients as gifts subject to the Unified Gift and Estate Tax.
If there is a dispute over your will after you pass away, the probate or estate lawyer that you hired to settle your affairs will have everything documented and will be able to direct your family through the subsequent processes.
The Perfect Time to Hire an Estate Planning Attorney
Even though it’s difficult to contemplate, it’s essential to make preparations for the possibility that you or a loved one will pass away, get seriously ill, or become unable to care for themselves.
Working with a dedicated attorney specializing in estate planning may be a wise choice, given that the process involves the management of both financial and medical matters.
Suppose a beneficiary (or even an individual not designated as a beneficiary) announces that they intend to sue the estate of a deceased family member. These actions can quickly deplete the estate’s assets and jeopardize all the beneficiaries. In that case, it may be in your best interest to speak with an estate planning attorney as soon as possible.
Take Away
Dealing with the passing of a loved one can be a difficult and upsetting experience, especially when there is an estate to settle.
