Probate lawyers handle the legal aspects of estate administration when someone dies. This includes preparing and filing the necessary paperwork, ensuring that all debts and expenses are paid, and accurately distributing any remaining assets according to state law. A probate lawyer must be familiar with various topics, including estate planning, taxation, real estate transactions, and financial management. Additionally, they must be knowledgeable about relevant laws and regulations to assist their clients through probate.
Many people ask “what is a probate lawyer and what do they do?” This article will discuss the primary responsibilities of a probate lawyer.
Developing an estate plan
One of the essential duties of a probate lawyer is to help their client develop an estate plan. This can include preparing wills, trusts, and other estate planning documents. A probate lawyer will explain the other estate plans to the client and help them decide which is best suited for their needs. The lawyer will also ensure that all legal requirements are met when creating the estate plan.
Filing paperwork
A probate lawyer must be knowledgeable in filing paperwork with the court system. This includes preparing and filing the necessary documents such as petitions, orders, inventories, appraisals, and more. The lawyer must then follow up with the court to ensure that all required steps have been taken to complete the case.
Keeping records
The probate lawyer must maintain accurate records throughout administering the estate. This includes keeping track of all assets and liabilities, filing tax returns on behalf of the deceased, and providing detailed financial reports to beneficiaries. All records must be easily accessible and accurate to ensure that any claims against the estate are correctly handled.
Communication with beneficiaries
The probate lawyer communicates with the deceased person’s heirs or beneficiaries regarding their rights and obligations under state law. The lawyer needs to explain all aspects of probate proceedings transparently so that everyone involved understands their legal rights. The lawyer should also answer any questions that may arise from beneficiaries during this process to avoid disputes or misunderstandings.
Negotiating disputes
Probate lawyers are often called upon to negotiate disputes between beneficiaries. This could include resolving disagreements over the distribution of assets or resolving conflicts related to estate planning documents. The lawyer must be knowledgeable in negotiation and dispute-resolution tactics to resolve any disagreements efficiently and effectively.
Advising executors
The probate lawyer must advise the executor appointed by the deceased on their various legal duties and responsibilities throughout administering the estate. These duties can include filing paperwork, paying creditors, distributing assets, and other tasks related to administering an estate. The lawyer will provide guidance and assistance so that all duties are carried out correctly and by state law.
Securing assets
A probate lawyer must take measures to secure the deceased person’s assets to ensure proper distribution. This could include locating and liquidating real estate holdings or ensuring that all bank accounts are closed correctly. The lawyer should also take steps to protect any remaining assets so that they are not subject to waste or loss.
Obtaining appraisals
A probate lawyer may be required to obtain appraisals for certain assets held by the deceased. These appraisals can help determine the value of an asset and assist with distributing it appropriately among beneficiaries. The lawyer should possess knowledge of various appraisal techniques and be familiar with experts who can provide professional evaluations when needed.
Paying creditors
The probate lawyer must pay off any outstanding debts owed by the deceased. This could include filing claims with creditors, discharge of debt, and other forms of dispute resolution if necessary. The lawyer must know debt collection laws to ensure that all matters are handled properly and efficiently.
Preparing tax returns
The probate lawyer is responsible for preparing and filing any required tax returns on behalf of the deceased. If applicable, this includes federal, state, and local taxes and estate taxes. The lawyer needs to thoroughly understand various tax regulations so that everything is filed correctly and promptly.
Providing direction
The probate lawyer provides guidance and direction to the executor throughout administering an estate. This includes offering advice on matters such as distributing assets, filing paperwork with courts, notifying creditors and beneficiaries, and other tasks related to closing an estate.
Standing in court
The probate lawyer may be called upon to represent beneficiaries or the executor in court. This could involve disputes over assets, challenging wills, or defending executors against negligence claims or estate funds mishandling. The lawyer must have experience in litigation and knowledge of state laws related to probate proceedings to provide effective representation and ensure that all parties’ rights are safeguarded.
With that Said
A probate lawyer has many duties related to administering an estate. This includes keeping track of all assets and liabilities, negotiating disputes between beneficiaries, advising executors, obtaining appraisals, paying creditors, preparing tax returns and providing guidance throughout the process. These responsibilities require a strong understanding of state laws and experience handling various legal matters. With these skills in place, a probate lawyer can ensure that an estate is handled correctly and efficiently.
