A probate lawyer is referred to as an estate lawyer and is involved in many different ways depending on the circumstances of the estate. Their involvement may be limited to the initial settlement of the estate and any appeals that may arise. Checkout probate lawyer near Newport Beach for more info. However, the probate lawyer can also deal with any legal probate issues that arise after the decedent’s death. Some probate issues may include the determination of heirs, property distribution and beneficiary designations. Their role is very important and they are often looked upon as the legal representative of the family at the time of the decedents death.
The first step that the probate lawyer will take you through is to determine what will need to be done with the decedents estate property and any assets that have not been liquidated. They will also want to know the exact dates that the decedents owned the property and any debts that they still have. The next step involves gathering and organizing the information that needs to be submitted to the court systems for probate consideration. This includes assembling financial documents, appraisals and test appraisals that are supported by the original will.
The first thing that occurs after the decedents death is the probate process in which the surviving spouse or children will determine who will receive what assets from the estate. This will often take years to complete and could involve many different lawyers. Many times the executor chosen by the surviving spouse will hire their own probate attorneys and probate companies. The process of choosing an executor can take several weeks and start the day the executor has been hired. The remaining family members will then make several visits to the probate office to review the forms that must be signed before a distribution can occur.
Once the paperwork has been completed, it must be sent to the Office of Probate where the property and assets had been distributed. The laws on how to administer the estate are different depending on where the property and assets had been dispersed. Most places require that the decedent’s living trust be established before distribution can take place. There are other probate laws that apply in the region where the estate was settled, but this is the briefest explanation of the entire process.
The role of the probate lawyer becomes critical at this point. The purpose of the lawyer is to review all the necessary documentation and signatures to determine if there were any errors or omissions in the process. Errors can be costly to the heirs and can even cost a lawsuit against the deceased. If the wrong person is given inheritance assets or money that the deceased would have been entitled to, then that heir could be financially ruined.
To protect the interests of heirs, it is important that the decedent’s will be followed. Even if the will contains no express instructions as to who should be responsible for certain debts, the courts often allow for a “personal representative” to handle these matters. Personal representatives are appointed by the court and follow the probate process as directed. Unless a specific provision is found in the testament, the personal representative is responsible for managing all monies owed to the estate, as well as distributing the inheritance among the heirs. A good probate lawyer can help his client find the right person to administer these affairs.
Because of the complex nature of probate and the many steps involved, it is not in the best interest of anyone to attempt to handle the process themselves. Instead, hiring a probate lawyer may be a wise choice. It is best to consult a probate attorney early in the process to discuss how to transfer assets, settle inheritance taxes, and finalize other details. The sooner the client begins working with a probate lawyer, the better. Although everyone must die, it is best to plan ahead so that property or assets can be transferred to the heir or beneficiaries without too much difficulty. If one wishes to make some modifications to the will, they should do so with the assistance of a qualified probate attorney.
In addition to handling the estate, the probate lawyer can also advise the executors on various strategies for making the most of their inheritance. They can offer valuable advice regarding how to use gifts, property and financial investments to achieve the best results. For example, an executor may want to use real estate for retirement or invest in stock options for an upcoming period. An experienced probate lawyer can provide guidance as to which strategy would be the best for the situation and can even review previous wills to see what else could be done to ensure that the will is followed to the letter.
Morgan Law Group
1500 Quail St, #540
Newport Beach, California, 92660
Phone No. : (949) 260-1400