When a person passes away, a family member must present the Will in probate court to validate the deceased’s wishes. Probate involves locating assets, settling debts, and distributing remaining assets to rightful heirs. While some may find probate daunting, hiring a skilled probate attorney can streamline the process. Here are some compelling reasons to consider hiring a probate attorney.
Engage Probate Attorney for Asset Inventory
Individuals often possess a variety of assets, from stocks and real estate to retirement accounts and bank holdings. Tracking down all these assets can be overwhelming without the necessary expertise. This is where a probate attorney proves invaluable.
An attorney can swiftly liaise with financial institutions to inventory all assets and safeguard them throughout the process.
Appraising Assets Accurately
After identifying the deceased’s assets, the next crucial step is appraising them accurately. This step is vital in determining the estate’s value and facilitating the probate process. An independent appraiser, either of your choosing or court-appointed, can assist in this process.
Calculating and paying estate taxes correctly is essential, and a probate attorney can provide valuable assistance in accurately appraising the estate.
Seek Probate Attorney for Life Insurance Claims
Life insurance benefits are typically not subject to probate, as beneficiaries receive them directly. However, navigating multiple life insurance policies can be complex and time-consuming. Hiring a probate attorney to handle interactions with insurance companies can ease this burden.
Settling Decedent’s Debts
Upon a person’s passing, outstanding debts and liabilities must be addressed, including medical bills, credit card debts, and mortgages. Managing creditors and validating their claims can be challenging, making a probate attorney’s guidance invaluable in drafting legal documents and settling debts promptly.
Addressing Conflicts and Challenges
Probate proceedings can give rise to conflicts, both within the family and from external parties seeking a share of the estate. In such instances, a probate attorney can navigate these complexities and ensure that only valid claims are considered, safeguarding the estate’s integrity.
hiring a probate attorney can expedite the probate process, alleviate complexities, and ensure a smooth distribution of assets according to the deceased’s wishes.
