Probate Lawyer is a Lawyer specialized in matters related to probate process. Probate is the legal process by which estate affairs and distribution of assets among beneficiaries of a will are carried out. In probating, the Will must first be verified and declared as the valid and true last will of the deceased (decedent). So many things can render a will as invalid, such as signing your will outside the dictates of the laws which bind signing of wills in Long Island. The Probate Lawyer has vast knowledge in the state laws affecting writing and signing of wills. Hence, in order for you not to make costly mistakes that would affect your family negatively when you’re gone, you need to contact a Probate Lawyer to help you plan your estate and avoid probate.
Or is it that the deceased named you as the executor of his/her will? If so, the responsibility of distributing the estate among the beneficiaries rests upon you. This is a complex process as the Will must first be probated in a Surrogate’s Court (where the deceased lived and/or owned one or more estates). You, as the executor, are the one to initiate this legal process and so all you need to do today is contact and hire a Probate Lawyer to offer you his esteemed legal guidance and assist you through probate.
Probate lawyers would assist you through probating process
Placing a value to your asset
In initiating the probating process, one of the first things the executor of the Will must do is estimate the monetary worth of the assets left by the deceased. The executor must ensure that each asset is well accounted for, and it’s worth known. Part of these assets will be used to settle the outstanding debts (if any) of the deceased, as well as paying for funeral expenses. An accountant may also be hired to offer accounting services accounting as regards the estate’s monetary worth. He’ll as well be paid out of the estate’s purse. If the net value of the estate is not enough, then the beneficiaries will definitely not get the exact amount of estate property that the Will stipulates.
This probating process of estate evaluation and payment of debts is not as trivial as it seems. The Probate Lawyer would help you to avoid taking any erroneous step.
Probate lawyer would help settle Issues with creditors
The executor may also be faced with claims against the estate. Imagine the deceased dying and leaving a multi-million dollar estate. Lots of people from the public may come out of nowhere and claim to be creditors of the deceased, all for the purpose of reaping where they did not sow. knowing a real creditor from a thief would require thorough investigation and presentation of legal documents. You as an executor cannot oversee this on your own. You need the expertise of the Probate Lawyer.
Distribution of assets among beneficiaries
The probate lawyer would help distribute assets to named beneficiaries. The executor may not get along well with the beneficiary or beneficiaries. During the probating process in the law court, he might seek to prove how qualified the beneficiary is to benefit from the asset. Also, a will can be “contested” by the beneficiaries. To resolve all these issues, you’ll need to hire a Probate Lawyer.
The probate process of a Will
In every state or region, there will be a Surrogate’s court. This is the court where Probation of a Will is conducted. Probate Law process varies across the different states in the country.
Last will are always faced with probate before they can be implemented. When you pass away, your family is faced with the challenge of managing and sharing your assets among themselves. This is usually an emotional and trying time, when they will be faced with a lot of decisions to make. Probate in itself is the legal process of determining the validity of a will before its contents are carried out. Not all Wills are valid. When one or more parties feel that the deceased was forced into signing the will, or that they are being cheated out of their inheritance, such party may issue out a petition of contest of will. Thus, increasing the probate process.
As always, in the complete absence of a will, your assets will be subject to intestate succession. Additionally, it is important to know that by default, a person’s assets can only be transferred to direct, blood-related family members when a will has not been drafted. A non-family member, such as an unmarried partner, is not eligible to receive any portion of your assets through probate. Therefore, you must name your partner as a beneficiary on your will if you would like them to be get a part of your estate.