Probate Attorneys are state-licensed lawyers who guide executors and beneficiaries through the probate process. The process involves validating a will, identifying and cataloging assets, paying final taxes and debts, and ultimately distributing inheritances to heirs. Contact Koestner & Shahon for professional help.
Family dynamics often complicate estate settlement and require legal intervention. A probate litigation lawyer can help resolve disputes between beneficiaries and executors or administrators, ensuring compliance with fiduciary duties.
A large percentage of estate-related cases end up in probate court. Probate litigation can be costly and time-consuming, so it’s important to choose a lawyer who will handle your case effectively. While not all disputes can be resolved before going to court, an experienced attorney will know how to seek amicable solutions and minimize legal fees through negotiation and mediation.
When a dispute does arise, a probate lawyer will provide guidance throughout the process. They can advise you on how to proceed, draft and file the necessary paperwork with the courts, and if necessary, argue your case in court.
One of the most common reasons for probate litigation is a dispute over a will or other estate planning document. For example, a family member may believe that they were unfairly disinherited or that the will was made under undue influence, financial elder abuse or other improper circumstances. A probate litigation attorney can review the document and help you determine whether a claim can be made.
The heirs of the deceased must follow state inheritance laws, which can vary widely from state to state. A probate attorney can assist the estate’s fiduciary, personal representative or executor as they work to settle the estate. This can include everything from finding and inventorying assets to liquidating and settling debts to distributing the estate’s remaining property.
It’s not uncommon for conflicts to arise between siblings or surviving spouses. When this occurs, a probate attorney can handle the complex and emotional proceedings to protect the interests of the estate’s heirs. They can help ensure that all required documents are filed properly and on time, and they can act as mediators and negotiators to avoid lengthy and expensive litigation.
It’s also possible that a dispute will arise between the deceased’s beneficiaries or creditors and the executor of the estate. In this scenario, a probate attorney can represent the estate or an individual claimant in court to defend their rights. They can also pursue damages against any person who has breached their fiduciary duty to the estate by stealing or misappropriating assets or improperly handling other administrative duties.
Wills and Trusts
A probate lawyer can help individuals with a variety of estate planning matters. This may involve drafting a trust and preparing other legal documents, such as deeds and wills. They can also review existing plans and suggest changes based on the client’s unique situation. Some lawyers specialize in particular areas, such as retirement planning or charitable giving. Others are experienced in handling complex issues, like multiple marriages, family members with special needs, and property reorganizations.
Probate is the legal process of validating a will in court and settling all financial and estate affairs after a person’s death. It includes identifying and appraising assets, resolving debts, and distributing remaining assets to beneficiaries or heirs. Attorneys who specialize in this area of law have years of formal mentorship and legal experience. They can help with a wide range of complex issues, including challenges to the validity of a will and breaches of fiduciary duty by executors.
It is possible to avoid the probate process altogether by creating a trust. This involves naming a party as trustee to oversee your holdings, and they can handle the assets according to your instructions. The trustee can be an individual, a company, or a trust company. There are both irrevocable trusts, which cannot be changed once they are created, and revocable trusts, which can be altered at any time.
A probate attorney can assist with establishing trusts and preparing legal documentation to transfer ownership of assets between parties. They can also provide advice on avoiding probate, such as by using payable-on-death registrations and implementing living trusts. They can also assist with avoiding conflicts by keeping communication open between the parties and minimizing costs by ensuring that all legal work is completed within the timeline required.
Taxes
A probate lawyer is a vital asset for the smooth and efficient distribution of estate assets to beneficiaries. He or she verifies beneficiary identities and resolves disputes, ensuring that the estate’s assets are distributed as stated in the will or state intestacy law if no will exists. In addition, a probate attorney ensures that all tax obligations are fulfilled by the estate. This includes filing the appropriate taxes, submitting all required paperwork, and complying with all applicable laws and court procedures. He or she also assesses the size of the estate and determines potential taxes based on state laws and the value of the assets. The attorney then devises strategies to minimize the amount of estate taxes owed, helping clients avoid costly tax surprises.
In the event that a dispute arises between beneficiaries, a probate lawyer can mediate family conflicts and help maintain peace during emotionally charged situations. This is a critical service since the legal complexities and emotions involved in these cases can quickly escalate into lengthy legal battles and increased expenses.
Lastly, probate attorneys help with estate tax planning to minimize the amount of taxes that must be paid on an estate’s assets after death. This is a crucial service since state laws vary widely and can significantly affect an estate’s bottom line. Additionally, a probate attorney helps to ensure that all assets are valued correctly and distributed according to the deceased’s wishes.
Probate lawyers can also assist with real estate property investments and other complex assets. They can help prepare tax returns and fiduciary income tax returns, as well as prepare affidavits in connection with the sale of the deceased’s property. They can even assist with the preparation of a petition for a determination of heirship and/or trust in cases of unclear or disputed beneficiaries.
The right probate attorney can take the stress out of the complicated, time-consuming and costly process of settling a loved one’s estate. By guiding you through legal terminology and resolving issues with creditors and taxation authorities, a probate attorney can save valuable time and resources while providing peace of mind.
Estate Administration
Whether you are an executor of an estate or a beneficiary under a Will, you will need the help of a probate attorney to ensure that the estate is administered properly and that you are receiving all that you are entitled to receive. Probate attorneys can assist you in locating and assessing estate assets, collecting and valuing assets, filing final income and estate tax returns, paying bills, and making final distributions to heirs. Some probate lawyers offer a full-service representation model and will take over all of these tasks for you, while others will only do those things that you are required to do by law as an executor or administrator.
Not all property passes through the estate, even if your loved one had a will. Some property, such as life insurance, jointly held bank accounts, retirement accounts, such as 401ks and IRAs, accounts payable on death or transferable on death, and real estate with named beneficiaries do not need to go through the probate process. A trust is often used as an estate planning tool to avoid the administration and probate process. A probate lawyer can assist you in creating a trust and answer questions regarding the distribution of non-probate property.
As the person appointed to administer the estate, you have a fiduciary duty to act in good faith, prudently, and with undivided loyalty to the estate’s beneficiaries. You also have a responsibility to prepare all necessary Court petitions and appear in Surrogate’s Court. A probate attorney can assist you in fulfilling your responsibilities by helping you understand what the estate is comprised of, how to sell or distribute property, and what fees you are entitled to receive for your services based on the size of the estate.
If you believe that the executor or administrator of an estate is not performing his or her duties, we can provide the necessary legal assistance to monitor your rights and protect your interests during the administration process. We can help you demand a complete and accurate accounting of where the estate money is going, file a petition for removal of a fiduciary, or seek to surcharge the fiduciary for mismanaging or wasting estate assets.
