Probate lawyers help executors and beneficiaries of an estate settle the affairs of a departed loved one. Aside from managing the probate process, they may also take on estate planning duties. A probate lawyer may assist you with drafting wills or living trusts, provide advice on powers of attorney, or even serve as an administrator or executor.
At times, you can settle simple estates without appointing an attorney to handle the probate process. But what may seem like a simple situation can quickly turn complex, especially for someone with no legal expertise. To help you determine when to hire a probate lawyer, here’s an outline of some of the situations where their assistance may be necessary.
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You’re Creating a Last Will and Testament
Creating a last will and testament provides your loved ones with security after your death. But if you get it wrong, there could be some consequences for your heirs. Not only will a poorly written will be contested by family members, but it can also cause a lot of conflict and stress for your beneficiaries.
A probate lawyer will help you draft a will that is legally sound and clear. They will ensure that you’re able to communicate how your assets, estates, and savings will be distributed according to your wishes. On your death, your probate lawyer will carry out the instructions of your will.
You want a more Extensive Estate Plan
Hiring a probate lawyer is necessary if you’re seeking to set up an estate plan. Although your will is already part of estate planning, it might often not be enough to protect your assets after you die. Some situations may call for a more extensive estate plan which requires an advance directive, power of attorney, or medical power of attorney.
If you have a complex estate, you might have to put those into a trust to avoid certain federal and state estate taxes. It’s a good way to leave your beneficiaries money without them having to pay a hefty tax. Placing your estate in a trust also controls how they spend and invest your assets after your death. A probate lawyer is well-versed in this field and can advise you on how to create the best possible plan.
The Deceased Party’s Estate Contains Complex Assets
If the deceased named you as the executor, it’s your responsibility to carry out the will and take care of their financial obligations. An estate will usually contain common assets, such as houses, vehicles, household goods, and bank or brokerage accounts.
If the probate is relatively simple, you can handle it without an attorney’s assistance. But if the decedent’s estate includes commercial real estate, business, or any other asset that requires special ongoing handling, things will get much more complicated. Consulting with a probate lawyer would be the best choice if you need to sell or appraise a business.
The Estate doesn’t Qualify for your State’s ‘Small Estate’ Procedures
In California, beneficiaries can receive assets without going through probate court if the deceased doesn’t own that much in assets. Most states allow for summary probate, which is a simplified and out-of-court process. But if the value of the estate is more than $150,000, you will need a probate attorney in Sacramento, California.
There is no Sufficient Money in the Estate to Pay off all Existing Debts
Handling the probate process is stressful for executors, especially if it involves settling financial issues. The deceased may still have some final income taxes, medical bills, and funeral costs left in their name. You will need the assistance and expertise of a probate lawyer if the estate doesn’t have enough money to pay off debts.
Under no circumstances should you settle these existing debts without consulting a lawyer in advance. There’s a chance that you will be held liable if you make an error that results in a loss to the beneficiaries.
The will is likely to be Contested by Family Members
The death of a loved one can result in grief and tension between family members and other beneficiaries. They may contest or dispute the validity of the decedent’s will. If you’re the executor of the will, you need to prepare for any disputes with a probate lawyer. With their knowledge and experience in handling these situations, they can reduce family conflict. They can present the necessary documents that will support what’s outlined in the will.
Takeaway
A probate lawyer can help you in a lot of ways. Although you may settle some legal matters without an attorney, there are a few situations when it’s in your best interest to hire a probate lawyer. Not only can they help you navigate the legal process of probate, but they can also make things easier during these difficult times.
