Tag: estate planning

While technology makes communicating easier than ever, some people prefer to meet with their probate attorneys in person. This can help ensure they have your best interests rather than a paycheck.

Probate Attorneys Los Angeles can save you time and money if you’re handling an estate case. They can also prevent family disputes over the distribution of assets and debts.

When you have a probate attorney, you can rest assured that your loved ones are well taken care of after you pass. They’ll help with everything from estate planning to settling the final estate, including tax matters and distributing inheritances. A qualified probate lawyer can ensure that all legal requirements and deadlines are met, minimizing the risk of disputes and delays.

Probate is a complex process that requires proving a will and determining inheritors before assets can be distributed. It can be a time-consuming and stressful task for executors and surviving family members. A probate lawyer can reduce the stress by assisting with various tasks, such as debt settlement, court filings, asset appraisal, and settling claims against the estate.

Hiring a probate lawyer can also save money, as they’re familiar with local laws and will ensure that all legal requirements are fulfilled. They can also minimize estate taxes by utilizing existing tax laws and exemptions, saving beneficiaries money.

During a time of mourning, it’s important to have peace of mind knowing that your loved ones are taken care of after you pass. Working with a reputable probate attorney can provide this peace of mind, as they’ll handle all the legal complexities and help you make informed decisions.

When searching for a qualified and experienced probate attorney, it’s important to do your research. Ask friends and family for recommendations and read online reviews to find the best fit for you and your situation. Once you have a few names in mind, schedule a consultation to discuss your needs and questions. This will give you a better idea of how they can assist and what their fee structure is like. If you’re unable to meet in person, consider a phone or video consultation to discuss your case. This can be a cost-effective option and still give you the same expert advice. However, be sure to factor in the travel costs of the probate attorney if they’re not within close proximity to you. These additional expenses can add up quickly, making it vital to work with a lawyer who’s located in your area.

Dispute Resolution

Probate lawsuits can be emotionally charged and complex. It is important that all parties involved in the litigation take the time to explore alternative dispute resolution (ADR) methods before heading to court. ADR allows disputing parties to work with a neutral facilitator in order to reach a mutually acceptable solution that is less abrasive and costly than litigation. In fact, probate courts often require that disputing parties attempt mediation prior to filing a lawsuit.

Dispute resolution options are typically non-adversarial, but can include arbitration, negotiation and informal settlement conferences. A skilled probate attorney can facilitate the process and help the parties reach a suitable resolution to their dispute. In addition to saving time and money, a negotiated settlement will likely be more satisfying than a verdict handed down by a judge in court.

Moreover, disputes are less likely to arise in the first place when the parties are able to discuss their concerns in a private setting with a neutral facilitator. Disputes in probate are usually about more than just money, and they frequently involve family relationships and history. It is important to consider these factors and how they may affect the outcome of the case when determining whether or not to pursue mediation.

Aside from mediation, a summary jury trial (SJT) can be an effective means of dispute resolution for probate cases. In an SJT, each side presents their case in a shortened form to a jury. The jury will then make a decision, which is advisory only (unless the parties request that it be binding). This alternative to trial can provide a faster resolution to a probate matter and can also serve as a preview of what a potential verdict might be if the case is litigated in a court of law.

It is important to note that mediation and other forms of ADR are not always available for all types of dispute. If a disputing party cannot come to an agreement with other members of the family, it may be necessary to litigate in order to resolve the dispute. However, it is important to remember that courts take a very dim view of parties who file an estate lawsuit without making a good faith effort to settle the matter on a more informal basis. In such cases, the losing party may be required to pay the winning party’s legal costs.

Timely Execution

When a loved one dies, it’s normal for emotions to overwhelm us. This can cause a delay in completing estate planning or other probate tasks. When that happens, a lawyer can help. They’ll provide big-picture insight into fees, taxes, settling debts and other issues that factor into an estate plan. They can also provide insight into unique legal matters that could arise in a particular case such as investments, overseas property or other special circumstances.

While anyone can agree to take on your case, probate attorneys specialize in this area of law. They don’t negotiate injury claims or defend criminal cases and instead focus on probate and trust resolution. They perform the same tasks every day and see the same probate complications on a regular basis so they’re uniquely positioned to know what is critical to your case.

Probate attorneys ensure that your personal representative is following the process set forth by the court. If they’re not, your attorney will file an order to correct the issue. They’ll also prepare a final accounting and distribute assets to beneficiaries and heirs. This includes requesting tax clearance letters from the IRS and filing documents to close the estate.

Your attorney will also assist in resolving any disputes that might arise during the process. This may include a will contest, where an heir or beneficiary believes the personal representative is taking assets to which they are entitled or using estate funds to benefit themselves or family members. Probate litigation is very costly and can significantly reduce the value of an estate.

Even when everything goes according to plan, there can still be surprises. For example, if an heir or beneficiary discovers that the personal representative took a car from the estate without the proper paperwork then they may have grounds to contest the distribution of that asset. In that situation, you’ll need an experienced probate litigator who can defend the rights of your loved ones.

If you have a question about an estate or the death of a loved one, contact our firm to schedule an appointment. Our attorneys have over 60 years of combined experience resolving complex cases and can make the process as easy as possible for your loved ones.

Final Bills and Debts

A person is not always in perfect financial standing when they die. They may have outstanding bills, debts or even tax obligations to pay. Addressing these liabilities is a normal part of the probate and estate closure process.

While the heirs or beneficiaries may be tempted to pay some of these bills out of their own pockets, it is important that they wait and let the executor deal with them as part of the probate process. The executor will prioritize the debts and pay them using estate assets. Creditors are not held liable for the deceased’s debts after death unless they cosigned a loan or otherwise legally obligated themselves to pay back the debt. In addition, creditors are only able to make claims on the estate’s assets once the probate process is complete.

When it comes to paying off outstanding debts, the estate’s executor will work within the guidelines set by state law. These laws determine the priority of different kinds of debts and how they are paid off. Typically, the first priority is for medical bills.

Next, the estate will usually attempt to pay off any outstanding mortgages or other real estate debts. In some cases, a beneficiary can assume the mortgage during or after probate. However, this depends on state laws and the specifics of each case.

After all debts have been paid, the remaining value of the estate will be distributed to the heirs or beneficiaries. A good probate attorney can help the heirs or beneficiaries understand how to go about this.

In some cases, the deceased made verbal promises to certain family members that they would take care of them. For example, a niece may have been promised she would get money to pay for college expenses. Although these promises are not enforceable in court, they can cause a lot of trouble.

The personal representative of the estate must file a report with the court within six months of the date of appointment. This report is a detailed list of all of the assets and debts in the estate. It also includes all receipts for items purchased to pay the claims against the estate and all of the costs that were incurred during the probate process.

A probate attorney manages the legal transfer of a person’s money, property and assets after death. They also assist with matters like debt resolution and clearing titles.

When a loved one dies, their estate has to be divided among beneficiaries and heirs per their stipulations in the will or in accordance with state laws if they died without a will. Contact Koestner & Shahon to know more about Probate Attorneys.

A probate attorney assists families in settling the estate of a loved one after their death. They can either act as advisors, providing guidance and legal expertise to executors, or they can take a more active role in helping the executors administer the estate. The extent of their involvement depends on the unique circumstances and complexities involved in each case.

In addition to their advisory roles, they help ensure that the estate is properly administered and distributed according to the decedent’s wishes. This includes identifying assets, gathering those assets, settling debts, filing final income and estate taxes, and making distributions to heirs. They also assist beneficiaries with any queries or concerns that may arise during the probate process.

Probate lawyers also frequently work with financial managers and insurance specialists. As a result, they need to have strong verbal and written communication skills. They must also be able to effectively explain complex legal matters in a way that is easily understandable by their clients, executors, and beneficiaries.

A good probate lawyer has a thorough understanding of state law governing estate property. This is important, because each state has its own laws that differ slightly from the Uniform Probate Code. Additionally, they should be familiar with the particular judges that handle probate cases in their area.

If there are disputes or challenges to the estate, a probate lawyer can represent parties in probate litigation. For example, if a beneficiary believes that the will was invalid because it was signed under duress or under undue influence, the probate attorney can help defend that person’s rights.

Some people find the idea of settling a loved one’s estate extremely challenging, especially in the immediate aftermath of their death. These individuals should seek out the advice of a probate attorney to avoid any unnecessary delays or financial burdens. In addition to their legal knowledge, they can help ease the emotional stress that often accompanies this difficult task. Probate attorneys can provide as much or as little assistance as needed, and they typically charge hourly rates or flat fees. Choosing an attorney who offers both options is beneficial, as it allows you to choose the level of services you need without worrying about exceeding your budget.

The Process of Administering an Estate

The estate of a deceased person must be managed and distributed to their heirs and legatees (people named in the will) according to the stipulations of their will and state law. The process, called probate, can take up to a year.

While the responsibilities of an executor or personal representative of an estate can be complicated, they can often be simplified with the help of a probate lawyer. A lawyer can assist with identifying estate assets, gathering those assets, filing final income and estate tax returns, paying bills, and making final distributions to the heirs of an estate.

In many cases, the attorney will also handle communications with creditors and heirs, as well as coordinating professional appraisals of real estate or valuable items. They can also help the estate manager determine if it is necessary to sell estate property in order to settle debts or pay taxes. Finally, they can help the executor or personal representative prepare legal documents for court proceedings and filings, and they can provide advice and assistance throughout the entire estate administration process.

It is important for a probate lawyer to have excellent verbal and written communication skills in order to work with their clients, beneficiaries, financial managers and insurance specialists. Additionally, a lawyer must have a thorough understanding of the law and be able to explain complex matters in an understandable way.

If you’re interested in becoming a probate attorney, consider joining a professional association or attending a law school that offers a clinical program in estate law. This will allow you to gain hands-on experience with the complexities of probate law while developing your communication skills.

In some cases, the estate may be small enough to qualify for summary administration by affidavit, which can streamline the process and reduce fees. The administrator should also keep a close eye on the closing reserve to ensure that there are sufficient funds available for unanticipated claims and expenses. Finally, the administrator must file a detailed account with the court that details all transactions and payments made. The court then reviews this account and approves it before the estate is closed out.

Fees for Probate Lawyers

When you meet with a probate lawyer, be clear about how they will be paid. Probate lawyers are paid from the estate, which means that the fees they charge come out of money that is soon to be distributed to heirs. As such, they have an incentive to get the process wrapped up as quickly and inexpensively as possible.

Probate attorneys typically bill by the hour, and rates vary depending on where you live and how much experience your attorney has. Some attorneys may also charge a flat fee for some types of work, such as filing the initial paperwork in a case. These types of fees are generally negotiated and agreed upon with clients before the attorney begins working on a case.

In addition to an hourly rate, many attorneys will also charge for expenses incurred during the course of handling a probate case. These can include things like filing fees, property appraisals, and any other expense incurred during the course of the case. Additionally, many attorneys will charge for any court appearances that may occur during the probate process. For example, if you or your family contest the will, it will likely require a court appearance in which the lawyer will need to present evidence and answer questions from the judge.

One of the worst ways that an attorney can be paid is to collect a percentage of the value of the estate as their fee. Thankfully, this is only customary in a few states, and it is not required by law anywhere. It is highly recommended that you avoid this type of arrangement, as it will result in higher legal fees than necessary.

Whether or not an attorney charges by the hour, it is important to get all fee agreements in writing. This will help ensure that you are aware of exactly what the attorney is doing for you, and it can also protect you if disputes arise later on.

Probate attorneys often employ paralegals to assist with the filing of documents and other routine tasks. This helps them to keep their hourly rates down, and it can be beneficial for the client as well. If you are working with an attorney who has a paralegal, ask for details on their rates as well.

How to Find a Probate Lawyer

The death of a loved one comes with a lot of emotional healing, sorting through personal possessions and dealing with the financial ramifications. It’s a stressful process, and one that is often exacerbated by family members haggling over property or money. Hiring a probate attorney can help.

A local probate lawyer will be best able to understand your state’s laws and work to ensure that they are adhered to throughout the process. It’s also a good idea to hire a probate attorney who has malpractice insurance. This will provide you with peace of mind in case the attorney makes a mistake that results in financial losses for you or your estate.

When choosing a probate lawyer, you should take the time to do your research. Checking out a firm’s online reviews, testimonials and credentials can give you insight into how well they are suited for your case. You should also pay attention to their communication style. Probate cases can be complex, and you may need to consistently communicate with the law firm regarding updates on your estate. If the attorneys you interview do not have strong, clear communication skills or don’t respond to your questions quickly, it might be best to move on.

Another important factor to consider is the amount of experience a probate lawyer has. The more years they have been in practice, the more likely they are to have experience handling a wide range of probate cases. When you meet with a prospective attorney, be sure to bring any relevant documents such as wills, life insurance payouts, death certificates, and property appraisals.