It's never easy to deal with the loss of a loved one when it's sudden and unexpected. The grieving process is long, difficult, and can be complicated by various factors, especially if they left behind an estate that isn't in order and you're the executor. This position could cause tension and anxiety. Thankfully, a probate attorney can help you fulfill your loved one's wishes and ensure the assets are distributed to the right heirs. Here are three ways they'll make your executor's role easier.
1. Experience and Resources
As an executor, you might not be familiar with the federal and state laws governing the probate process. And because of that, you might make many mistakes, which could be detrimental to the responsible distribution of property. You might also find it difficult to handle an estate with valuable or complex assets. That's why you should work with a team of professionals.
Probate lawyers can help you get professionals that will help you administer the estate correctly. They can help you hire accountants to calculate the tax you owe and develop a payment plan. If you want to know the value of the assets, they can help you choose an appraiser. Additionally, they can source for a financial advisor to guide you on which assets to sell and which ones not to sell. This way, you won't have to stress yourself out with the entire probate process.
2. Handling Debts
If the deceased owed some debts at the time of their death, you might have to pay the creditors. Moreover, you may have to pay the deceased's taxes and other debts, such as credit card balances or mortgage payments.
A probate lawyer can help you determine the amount of the debts, what they are, and how much you need to pay. They'll also help you find a way to pay them off as quickly as possible so that the estate can be distributed promptly. If the estate includes valuable assets like real estate or businesses, these attorneys can advise you on tax issues and explain to you the obligations and responsibilities of the heirs.
3. Minimizing Family Feuds
When an estate is extremely valuable, family members might start to fight over it. This can result in a lot of conflict and even lawsuits. If this happens, you need a probate lawyer to act as a buffer between you and the family members. These attorneys will resolve the issues and help the parties agree, reducing conflict and the chance of the family members suing each other or fighting in court.
If you're an executor of an estate and have questions, contact a probate lawyer.