What Is The Role Of A Probate Lawyer?
When a person dies, their assets must be distributed in accordance with state laws and according to the instructions they provided in their will while they were living. From identifying estate assets and beneficiaries to distributing assets and inheritances, a probate lawyer advises the executor of will or beneficiaries of an estate through the probate process.
What is the difference between a probate lawyer and a probate attorney?
A probate lawyer is a state-licensed attorney who works with an estate's executors and beneficiaries to settle the decedent's affairs. If all of the decedent's assets are put in a trust, probate may be avoided in certain cases. Outside of court and legal processes, a trust may facilitate a seamless transfer of property.
Is there a difference between a probate lawyer and an estate attorney?
A probate lawyer, sometimes known as an estate attorney, will be engaged with the estate in a variety of ways, depending on the circumstances. The extent to which they are involved will be determined by the amount of the decedent's assets and whether or not they had a final will and testament when they died. Beneficiaries submit claims and litigate for what they feel they are entitled to in the absence of a will. In circumstances when a will exists, questions about its legality may emerge, perhaps leading to litigation.
What is the role of a probate lawyer?
Specifically, a probate lawyer may help an executor and beneficiaries with the following responsibilities throughout the probate process:
- Getting the money out of life insurance plans
- Locating and protecting estate assets
- Obtaining valuations for the estate of the decedent's real estate
- Assisting with bill and debt payments
- Determining whether any estate or inheritance taxes are payable, and ensuring sure those obligations are settled Preparing and submitting any paperwork necessary by a probate court
- Getting to the bottom of income tax difficulties
- Keeping track of the estate's bank account
- Assets in the decedent's name are transferred to the proper beneficiaries
- After all debts and taxes have been paid, making a final transfer of assets to beneficiaries