When a person passes away, a family member must present the Will in probate court to validate the deceased’s wishes. Probate is a legal process that involves identifying 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 key reasons to consider hiring a probate attorney:
Engage Probate Attorney for Asset Location and Inventory
Individuals often possess a variety of assets, including stocks, real estate, and bank accounts. Tracking down all these assets can be challenging without the necessary expertise. A probate attorney can efficiently liaise with financial institutions to locate and inventory all assets, ensuring they are safeguarded throughout the probate process.
Appraising Assets Accurately
After identifying the deceased’s assets, the next step is to appraise them accurately. This step is crucial in determining the estate’s overall value and ensuring proper estate tax calculations. A probate attorney can facilitate this process by leveraging their network of reliable appraisers to assess the estate’s value effectively.
Seek Probate Attorney’s Assistance with Life Insurance Claims
Life insurance benefits are typically not subject to probate, as they pass directly to beneficiaries. However, navigating multiple life insurance policies and dealing with various companies can be complex. Hiring a probate attorney can help manage the administrative tasks and complexities associated with filing life insurance claims efficiently.
Settling Decedent’s Debts
Upon a person’s passing, there may be outstanding liabilities such as medical bills, credit card debts, and mortgages. Resolving these debts can be time-consuming and challenging, especially when dealing with creditors. A probate attorney can provide guidance on drafting legal documents for debt repayment and expedite the estate settlement process.
Addressing Conflicts and Challenges
Probate proceedings can give rise to conflicts among family members or external parties seeking a share of the estate. In such situations, having a probate attorney can be invaluable in resolving disputes and ensuring that all claims are valid and addressed appropriately.
hiring a probate attorney can simplify the probate process and provide essential support in managing assets, debts, and potential conflicts. Consider enlisting the expertise of a probate attorney to navigate the complexities of probate proceedings effectively.
