As a personal
representative or executor of a testator who recently passed on, you
have a lot of responsibilities on your hands. These include ensuring
that all of a decedent’s assets are protected and properly
inventoried, paying all taxes and debts, and making sure that the
named beneficiaries receive their rightful part of the inheritance.
All of this can be overwhelming, especially if you are
court-appointed and not ready for the duties of the position.
This is where probate
attorneys come in. Their job is to guide an executor through the
entire...
Tuesday, June 24, 2014
Wednesday, June 18, 2014
Probate Law Tips: Dealing with Estate Creditors
Before you can do
anything with your duties as executor of the will of your loved one,
you will have to deal with prospective creditors as the first thing
you will most likely need to do is to inform all the concerned people
of the decedent’s passing. Whether or not you will be going through
probate proceedings, you should still keep these tips in mind:
Make a List
List down all of the
decedent’s known creditors and write their addresses and contact
information as well. Whether it be a credit card company, a mortgage
lender, or any other...
Monday, June 9, 2014
Is Probate Still Needed When There’s a Will?
In a word: yes. Even if
the testator passed away with a comprehensive and enforceable will,
and even if there is little to no question as to the validity of its
provisions, chances are your estate planning lawyer will still tell
you that a probate proceeding is necessary. Why exactly is this so?
Asset Transfer
Process
If the decedent died
with sole ownership over some assets, the only way that these
properties can be transferred in the name of their new owners is
through probate proceedings. If there are co-owners on the other
hand, provided...
Sunday, June 1, 2014
Preparing to Meet with an Estate Lawyer
It rarely matters how
much or little you have in assets; as long as you have something to
leave behind to your family after you pass, you should see to it that
you make a last will and testament, if only to make sure everything’s
in order. If you haven’t met with a
probate lawyer yet, here are some things you are expected to do:
Personal Information
Of course, your lawyer
will want to get acquainted with you and understand the reasons
behind your decision to plan your estate. Oftentimes, attorneys
personally interview clients to get personal...
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