Comprehensive Archive of Legal Articles and Insights

Estate Planning

Which Assets Do Not Come Under Probate?

Probate is the legal procedure that takes place just after the death of an individual. The process is where the validity of the decedent’s will is determined while someone, either friend or family, is designated as the estate executor. It is the job of the executor to manage the estate and distribute the assets within the estate according to the will of the testator. In case the deceased individual has not left behind any will, it will determine to whom and in what quantities the assets of the decedent need to be distributed. Probate Lawyers Advise on Assets Probate is crucial only for the property that was: Solely named in the name of the decedent. For instance the car or

Estate Planning

How to secure documents heirs need during probate

If a loved one had died recently, you might require probate. In case the decedent has not left a will, a grant of letters of administration might be required. The official document gives the near and dear ones of the deceased the ability to deal with the deceased’s estate. Individuals can apply for probate either directly or by using the services of a lawyer. Probate is the term commonly used when speaking of applying for the rights of dealing with the affairs of an individual who has died. Nevertheless, there are different terms used based on whether the decedent individual has left behind a will or not and the location where he or she resided. Understanding the Probate Procedure If

Estate Planning

Dying without a Will can complicate probate

The estate executor or the personal representative is responsible for taking care of and distributing the estate a person died after leaving behind a will. It is the executor’s job to handle the will. They also distribute the assets among the beneficiaries or act according to the terms of the will. The person who writes the will is the testator. The testator appoints or names the person whom he or she wants to serve as the executor of their will. If the person passes away without writing a will or intestate? Or if their will does not have any reference to the executor? In such cases, it is the probate court that takes up the responsibility of appointing the executor.

Estate Planning

Probate need not be tedious and expensive

Probate can be defined as the court-supervised procedure of validating the will of a person who is no more. The process involves identifying the final assets of the decedent, paying the decedent’s last or outstanding debts, and distributing the deceased’s estate to the right beneficiaries or heirs. Here, it is important to note that probate laws can hugely differ from one state to another. Nevertheless, the procedure remains the same everywhere, with attorneys doing the majority of the heavy lifting. The probate procedure can completely hold up the process of distributing the estate of the deceased for more than a year. However, with proper estate planning, you can easily help the beneficiaries in avoiding this delay. Financial advisors can be

Estate Planning

For Probate Process Why to Hire a Probate Attorney

The probate process can sometimes turn into a burden to the executor. There are many cases where probation becomes complex and hard to execute. When situations like this arise, executors prefer to hire a probate attorney. The attorney will work on behalf of the executor and manage all the probate-related tasks. The probate attorney is a professional in this field and can overcome any barrier that comes in his/her way. They can face any legal problem that comes front during the probation process. He/she makes sure that the estate is administered according to the state laws and the intention the decedent had with his/her estate. A probate attorney is a state-licensed attorney who has specialized in estate administration. He/she helps

Estate Planning

Probate is an expensive process

Probate is a legal process of administering and managing the assets of the decedent. It involves tasks like distribution of assets among the heirs and clearing out pending dues of the decedent. After clearing all the dues with the estate funds, the heirs get the estate’s remaining share. The executor executes all this task on behalf of the decedent. The executor uses the estate fund to clear out the taxes and fees involved in the probation process. These payments reduce the estate’s value left by the decedent for his/her heirs. This is one of the most significant disadvantages of the probate process. The probation process also puts a lot of stress on the heirs as they have to move to

Estate Planning

How To File A Petition In Probate Court

Probate is a procedure which is carried out when a person dies and their last Will (considering they drawed it in advance) is processed. Probate defines the process by which their last written wishes are legally validated as the final statement of their assets, holdings and various possessions. When the person dies, the court assigns a beneficiary named in the will or an administrator to carry out the process of Probate. Some of the most important needs for a probate are the following: 1. To transfer the ownership of the deceased person’s holdings and assets to the beneficiaries. If there are no holdings or fixed assets to transfer, there is no requirement for probate. 2. This

Estate Planning

Probate and Estate Planning- The Relationship

What is Probate? It is the legal procedure of distributing the estate of an individual as per his or her Will, after death. The estate executor designated in the decedent’s Will needs to apply for Grant of Probate for distributing the assets of the deceased legally among the beneficiaries or heirs. This speaks of the relationship between probate and estate planning. Probate is necessary. It offers recognition to the Will and designates a personal representative or executor. This is for administering the estate as well as distributing the assets among the beneficiaries. Since the laws in different states vary, it becomes important to get the advice of an attorney when it comes to determining whether or not probate proceedings are

Estate Planning

Hire A Probate Lawyer When You Plan Your Estate

Going by the traditional advice for the estate executors, it is usually very important for them to get the services of a probate lawyer. Estate executors need to decide while trying to wind up an estate, that they require legal help from experienced lawyers who know the state laws and are well aware of the probate proceedings. Nevertheless, it is not necessary for all the executors to turn the probate proceedings over to lawyers or even hire one for restricted suggestions. In other words, it is not necessary to hire a probate lawyer if the estate being handled does not consist of exclusive assets and is not very large as well. Estate Planning and the Help of a Probate Lawyer

Estate Planning

Finding the Right Executor for Estate before Probate

Getting hold of the perfect executor for your estate before probate is one of the most integral parts of the estate planning procedure. And yes, it is not a very easy thing to do. After all, you must find someone who is not just responsible but someone you can depend on when it comes to fulfilling your final wishes. It is also important to find someone who has the willingness to serve as the executor of your will and the ability to take up the task of asset distribution among the beneficiaries after your death. So, what are the steps you need to take in finding the right estate executor before probate? Coming up with an estate plan is vital

Estate Planning

Can You Avoid Probate Completely?

When grieving the demise of a loved one, a complex financial and legal procedure is the last thing you would like to handle. But most of the time, that is exactly what happens when the near and dear ones of a deceased need to undergo the probate procedure. The family members of the decedent need to understand this process as it can keep them away from getting caught by surprises. Many questions need to be answered here. These include questions like who will be taking charge of the will after a person dies; is there any way to avoid the lengthy probate procedure, and what happens if the person dies intestate. Well, taking up the question of whether a will

Estate Planning

Challenges You Will Face during Probate

The probate procedure is specifically designed for facilitating the transfer of estate assets from the deceased to his or her beneficiaries. There are different steps involved in the process like estate valuation for tax purposes and the scope for creditors to come up with claims. In situations when the decedent has left behind a will, the process is relatively simple and straightforward. But most of the time, several problems can arise during this procedure. To face the challenges during the process, it is always advisable to take proper help from the attorneys working in this field. Probate lawyers can offer legal representation to the ones facing the problems. Some Common Issues That May Arise During the Probate Procedure In almost

Network Insights Archive

Sponsored Stories

Which Assets Do Not Come Under Probate?

How to secure documents heirs need during probate

Dying without a Will can complicate probate

Probate need not be tedious and expensive

For Probate Process Why to Hire a Probate Attorney

Probate is an expensive process

How To File A Petition In Probate Court

Probate and Estate Planning- The Relationship

Hire A Probate Lawyer When You Plan Your Estate

Finding the Right Executor for Estate before Probate

Can You Avoid Probate Completely?

Challenges You Will Face during Probate

Subscribe To Our Newsletter