What is the Probate Process?
When an individual passes away, then begins the question of what to do with their estate assets. Thus begins the probate process, in which estates must settle all outstanding debts and distribute the remaining assets to beneficiaries and heirs. Overseeing the probate process is the executor, also known as the estate’s personal representative, whose duties include beginning the probate process, identifying beneficiaries, settling debts, and eventually closing the estate in probate court.
The probate process can be long, financially costly, and complicated. This is all made more difficult by the fact that those going through probate are often in a state of grieving. Probate can be made more complicated if no valid will existed before death or if there was reason for a will contest, such as instances where a beneficiary does not believe they’ve been provided the proper inheritance.
Is There a Last Will and Testament?
If there is a last will and testament left behind by the deceased, the probate process can be made far simpler. Wills establish the decedent’s final wishes for how their estates should be closed, who should be their beneficiaries, and who should inherit what.
The lack of a valid will could result in a more complex probate proceeding. When there is no will, it is known as dying intestate. In such cases, state intestate laws determine who shall inherit from the estate and even which party should become the legal guardians of any minor children.
It can be difficult to think about our own mortalities and the lives of our loved ones after we are gone. But by drafting a valid will, we’ll save your surviving loved ones an untold amount of time, money, and potential heartbreak. For assistance drafting your last will and testament, please contact our law firm to speak with our wills attorneys.
What Happens When Someone Contests a Will?
In instances where a will is contested, the probate process can slow to a halt. There are several reasons to contest or challenge a will, such as beneficiaries not receiving the inheritances they expected, allegations of fraud or undue influence in the drafting of a will, the belief that the will was drafted by an individual who lacked mental capacity at the time, or the existence of two wills, which could raise questions about which will to authenticate.
In order to streamline the probate process for your loved ones, it is recommended that you draft a will carefully with the help of an experienced estate planning attorney. Additionally, we recommend to our clients that they take the time to explain their wills and the terms of the legal documents to their loved ones prior to death. If challenges and contested issues can be addressed during life, it will make matters that much easier during the probate process.
What Are Common Mistakes People Make in Relation to Probate?
In addition to the failure to draft a last will and testament before death, there are several mistakes and pitfalls that people fall into during probate. Our legal team has the knowledge and experience to lend valuable assistance to you in order to help avoid such difficulties and mistakes.
Have You Waited Too Long?
It is natural to mourn the loss of a family member or loved one. However, you mustn’t let this chapter last too long because there are legal matters left to contend with. It may seem unfair, but the law does not wait for us to grieve. It is necessary to begin the probate process in a timely manner.
Do You Need Professional Legal Representation?
There is no legal requirement to retain professional legal counsel during the probate process. However, we strongly recommend that you do so for an abundance of reasons. Failure to hire legal help could result in a more difficult and accident-prone probate process. When you hire a lawyer to help you through probate court, you can be assured that all the challenges you did not predict have been accounted for and that all documents will be filed promptly.
Have You Correctly Estimated Estate Taxes?
Paying estate taxes is necessary when closing an estate. Failure to calculate estate taxes correctly could result in penalties. Contact our law firm for legal assistance.
Are You Keeping Accurate Accounting?
Before settling debts and distributing assets and property, it is essential to perform an accurate accounting of the estate assets, including bank accounts, real estate property, and more. Failure to perform accurate accounting could result in errors that are most costly.
Are You Communicating with Beneficiaries?
As the estate executor, it is essential that you remain in constant contact and communication with the named beneficiaries. It is natural for beneficiaries to get anxious during the long and sometimes drawn-out probate process. By keeping them informed, you can avoid conflict and potentially make for a much smoother process for everyone involved.
Are You Distributing Assets Too Soon?
There can be a temptation to distribute assets quickly in an attempt to speed along the probate process for everyone involved. However, it is important to resist that urge. All designated beneficiaries must be identified, located, and informed before the distribution of assets. Additionally, all that must be settled prior to distributing the remaining assets to beneficiaries. Before distributing property and assets, ensure that everything has been properly accounted for and that all beneficiaries are informed of the probate proceedings.
Are You Attempting to Do It All Yourself?
We recommend against a DIY approach to the probate court process. This process can be complicated, both logistically and emotionally, and it is not recommended to tackle all the complexities of the probate process on your own. Instead, work with experienced probate attorneys in your area. Our law firm proudly provides probate services to interested parties, and we would like to discuss your case and a case review.
Can You Avoid Probate?
It is possible for certain assets to avoid the probate process entirely. This can be accomplished in a couple of ways, most notably by putting those assets into a valid trust. Trust assets do not go through probate and can be transferred to beneficiaries more smoothly. Please contact our legal staff to learn more about the difference between wills and trusts.
Schedule a Consultation with Our Experienced Estate Planning Attorneys Today
When going through the probate process, it is strongly recommended that you retain professional legal representation from a probate lawyer working at an estate planning law firm. Our estate planning lawyers have years of experience representing clients and complex cases, including those involving the probate process. For experienced legal counsel, please contact our law firm to discuss your case today.
You can reach us at 540-386-1277.