Questions to Ask a Probate Attorney
What do probate attorneys do?
What Does a Probate Lawyer Do?
If the deceased left a pour-over Will, it means that the assets mentioned be put in a trust. A probate attorney with estate planning or trust administration skills can be of great assistance. 12.
In the blink of an eye, a decedent’s assets can be heisted, pillaged, squandered, or frozen. Probate attorneys help to execute the deceased’s estate plan or intestacy laws so that this doesn’t happen.
The role of any reputable probate attorney is to make the process of sorting through estate matters and filing the required paperwork as seamless and stress-free as possible for anyone dealing with the loss of a loved one.
Assets that do not need to go through probate may include: • Retirement accounts where a beneficiary was named. • Life insurance proceeds (unless "the estate" is listed as the beneficiary) • Property that's held in a living trust. • U.S. savings bonds registered as "payable upon death". • Pension plan distributions.
Typically, any property that was solely owned by the deceased person is subject to probate. This usually includes things like a car titled to the decedent alone or real estate the individual owned. Shared property is also subject to probate.
Some law firms have an answering service while some attorneys will provide their personal contact number for clients. Also, ask how they normally communicate with their clients. Even if there are no issues with probate, you'll still want to be kept informed of how the process is going.
Not all assets will need to go through probate. If the deceased person was married and almost everything was jointly owned, probate is not usually necessary with those assets. The same is true if the individual did some planning prior to their death to avoid probate.
If the person dies leaving behind a will, it is the process of “proving up” that will and transferring the person’s assets to his or her living heirs. This is the most common type of probate.
The term “dependent” refers to the administrator’s need to get the court’s approval for the transactions that are a normal part of the probate process , such as the sales of real estate or personal property.
After the hearing, the executor receives the Letter of Testamentary granting authority to act on behalf of the deceased. This document can be taken to banks and financial institutions, stockbrokers, title offices, etc. who will follow the executor instructions to transfer assets.
The court may also appoint the appraisers who will determine the value of the deceased’s property to prevent the stealing of estate assets or the cheating of heirs.
A full estate plan involves a list of specific instructions as to whomever you want to be in charge of administering your estate, how you want things managed, and how you want your assets distributed. The plan can include a Declaration of Trust (describing your assets like property, savings, stocks, bonds, retirement accounts, etc.).
Estate planning is the process of making the necessary decisions to put a person’s (or a couple’s) affairs in order and to state your wishes on what should happen with your assets and property should you pass away or become incapacitated.
A Trustee manages the assets that the Trustor placed in the trust. Usually, the Trustor is the same person as the Trustee in the beginning, until the trust is handed over to another Trustee. A Beneficiary is a recipient who will inherit the assets of the trust at some point.
An experienced attorney should be able to tell you which nuances of your case may cause delays and how to plan for them. Knowing this information in advance can help you obtain any necessary paperwork in advance, saving time. 6.
Some attorneys know immigration very well, others are proficient with criminal law, yet others primarily focus on real estate closings. When hiring a probate attorney, ask them (or look at their website) about other areas of law they practice.