How Hiring A Probate Attorney Will Help You Get Your Inheritance Quickly
Losing a relative comes with sorrow that may prevent you from performing your normal duties. During your mourning period, the last thing you want is to be burdened with the task of handling the probate process. It can only make things worse and prolong the grieving process. If you find yourself in this situation, hiring a probate attorney is advisable. They'll take charge of everything for you and ensure they're handled correctly. This article discusses how these lawyers can help you get your inheritance promptly.
Calculating the Estate's Value
Before the assets are divided to the heirs, their value needs to be determined. These assets could include a business, a house, bank accounts, or pensions. A thorough evaluation of what each person deserves should be made to distribute this property equitably and justly. This would also include considering any prenuptial agreements that may exist or gifts given over time.
A probate attorney will ensure that everything is handled correctly. They'll work with the executor to determine the value of the assets and divide the property according to the decedent's wishes. This could be through specific bequests, according to their fair market value, or through simply splitting the property evenly.
Settling Debts
Debts can make it difficult to get an inheritance. If the decedent had a lot of debts, you might have to make arrangements to pay them before the property is distributed. An attorney can contact lenders, such as banks and credit card companies, to get the balance of these debts and help you devise a plan to pay them in full. This may be through a payment arrangement over time, a settlement, or filing for bankruptcy. Once the debts are settled, they'll also help you pay any property taxes owed and guide you through the process of repairing your credit, so you finally receive your inheritance.
Estate Planning
Estate planning can be an incredibly complicated process, especially if spouses or children are involved. A probate attorney can help you with this process by helping you to execute the final testament and living trust. They'll also ensure that these documents are reviewed and legally binding before submitting them to court for approval. This will ensure that all deceased wishes are followed, and no one is left without an inheritance.
If you want to get an inheritance with less stress after the demise of your loved one, hire a probate attorney. These lawyers have the experience and knowledge to guide you through this process and take care of all your legal need.