The duties of a probate lawyer
A lawyer who is a state licensed how to counsel personal representatives and the beneficiaries of the estate as well settle the final affairs of the dead individual can be attorney who can represent the above mentioned in probate court. A probate lawyer is also known as an estate attorney. There attorney has to look into facts such as how long the decedent has been deceased has been dead. Here the laws of the state and find out the real value of the estate.
How it is followed up
This all depends on the deceased person whether he/she has left a valid last will when they died. The probate lawyer is appointed to give a sound advice on the legal and other estate matters to the beneficiaries they are representing. They can also be contesting on behalf of the beneficiaries if there is any dispute regarding the deceased will about estate distribution. There times when these lawyers can also become personal representatives or executors of the will if they apply for it.
The duties would include
- Assisting with the sale of the estate property
- Distributing the assets of the beneficiaries
- Obtaining appraisals of property
- Determination of the taxes owed and that have to be paid.
- The need to locate and secure both the probate and non-probate assets.
- The decedent’s property has to appraised and valued after his/her death.
- All the required documents have to be filed at the probate court with in the specified time frame.
- The proceeds of the life insurance has to be collected.
- The retirement plans have to checked for making appropriate choices and rolling then over.
- The outstanding debts and bills the decedent may have left behind have to be settled.
- Keeping a check on the record keeping books of the estate is a requirement.
- The need to check whether all the outstanding taxes of inheritance and estate both in the state and federal levels, have be paid in regard to the estate and other wise. Also, how to fund those taxes.
- There is a need for the lawyer to see whether there are income tax issues also.
- The need to settle disputes that may have risen between the personal representatives and beneficiaries.
- There is a definite assistance required for the sale of the estate property which is one of the tasks that the lawyer will help in undertaking.
- For performing all the above actions there is a need of a permission to be taken.
- The retitling process from the decedent into the names of the beneficiaries of the will is also done by the appointed lawyer.
- The distribution of what is left after all the taxes and debts of the decedent will handed over to the beneficiaries.
The duties mentioned above have a lot to do with overseeing a lot of the work that has to be carried out efficiently. The way that decedent has put forth in his/her will. There may be a need to liquidate the assets to pay off outstanding bills and debts along with loans and to procure funds you may have to source this from the estate property left behind by the decedent. Sometimes when all is settled and the distribution of funds is then put into place.