When you are deciding on the best ways to address your unique estate planning needs, you may have concerns about how your debts and assets will be handled. Probate is the process that determines who will have ownership of your assets. Putting plans in place early to ensure probate goes smoothly is a crucial part of estate planning. It may be beneficial for you to seek the services of an estate planning lawyer so they can help you understand the probate process and make the proper arrangements for your estate.
What is probate?
Probate is the formal process of paying your debt and shifting assets around so that they can be collected by your named beneficiaries. Probate is initiated once an executor or administrator is authorized. During probate, the state recognizes an executor’s will, if there is one. If a deceased person does not leave a will, then probate starts once an administrator of their estate is named.
How can a probate lawyer help me?
The guidelines for the probate process are slightly different for each state, but a probate lawyer can inform you of the requirements you need to follow. A lawyer who is knowledgeable about the probate process can help you with general tasks. Some of the services they can provide you with include:
- Filing tax returns
- Identifying assets to collect and distribute
- Business and real estate transactions
- Reviewing your documents for accuracy and errors
- Filing necessary documents such as Executor’s Release of Liability
- Communicating with heirs and beneficiaries
Getting familiar with probate is an integral part of confirming that your debts will be resolved and your assets will be distributed to the right individuals. Probate can be costly and take a long time to complete, and complex factors can impede the process.
You should work with a trusted lawyer to assist you with making important decisions and keep you informed. They can provide you help to make the probate process much more efficient and prevent issues from occurring. If you have questions, they can provide you with helpful insights about the tools you should use. Whenever you are dealing with legal issues, it is recommended to obtain the professional guidance of a lawyer so that you have the support you need to complete your estate planning tasks.