Losing a loved one can be overwhelming, and you should take some time to heal by taking a step back from your household or job duties. If you are the executor of your loved one's real estate, ensure that you take this time to find professional help from a probate lawyer in your area.
As an executor, you're expected to comply with court schedules and guidelines, which may involve securing a probate bond or executing a complex will provision. Such estate matters can be complicated if you're not prepared to handle them. That being the case, here are a few reasons you should consider working with an estate planning attorney.
1. You have fewer chances of being sued
The beneficiaries of an estate have the right to make a legal claim if they have reasons to believe you have misappropriated or mishandled the estate funds. By working with an estate planning lawyer, they can guide you on the release and distribution process. In such a case, they'll help you review the financials of the estate fund and ensure that all beneficiaries sign the release before getting their rightful share. This minimizes the chances of a lawsuit against the executor.
2. They can ensure debts are properly settled
Most executors struggle with the debt settlement part of the probate process, leading to unnecessary delays because they're being too cautious. As an executor, this is understandable because you don't want to release your inheritance and later find that creditors still have unsettled debts. However, you should know that the debt settlement process has a timeline, and working with a knowledgeable estate planning attorney will ensure that you don't wait longer than you should.
3. They'll work to protect the estate
When you seek the help of a probate lawyer, they'll work to ensure that the interests of the deceased and descendants are protected. Sometimes, legal claims can be made against the deceased after their death. Such claims can be challenging to overcome if you don't have a probate lawyer in your corner. Hiring a probate lawyer to help handle the claims reduces the anxiety your descendants will experience when dealing with an unfamiliar process at a time when they're grieving.
Some people may not see the need to seek the help of a probate lawyer because they assume that the forms are publicly available and don't require the legal background to fill them out. This may work for some, but some estates can be complex, especially if they have business assets or royalties. In some cases, wills can also be challenged by heirs, and the services of an estate planning lawyer aren't something you should overlook.Share