Estate Planning: 3 Reasons You Need An Attorney In Probate
The passing of a dear friend or loved one can be stressful enough on its own, but when the decedent's will goes to probate, your anxiety and emotions can reach previously unattained highs. Even with a will in place, it is not uncommon for the will to go into probate. Whether as a result of bickering heirs or the absence of a will, the probate process can be a lengthy and exhausting one. Here are three ways an attorney can help during the probate process.
Nonexistent Assets
Sometimes, assets or property bequeathed in a will are nowhere to be found. In those instances where your loved one's will was composed years or even decades before their passing, the assets might simply have been sold. While many would simply accept that the asset in question is no longer in the family, there are those who would insist that the will's executor give them something of equal value in the asset's stead.
Without the assistance of an attorney, and fearing the legal repercussions of denying such a request, many executors would acquiesce the heir's demand. However, an attorney who is practiced in the laws of estate planning would know that the executor need not provide such 'replacement assets' when the item in the will is no longer available.
Disagreements Regarding Coinheritance
Many times, a loved one will leave his or her property to more than one person, equally dividing ownership amongst them. Unfortunately, heirs often disagree as to how to proceed with their inheritance. With real estate, for instance, one heir may wish to keep the property while the other(s) want to sell it off.
Most often, one heir will cave to the other's insistence, which can lead to resentment or dissension down the road. However, a probate attorney can generally devise a strategy where those heirs who would prefer to sell the property are compensated for their ownership stakes, and those who wish to keep the property can do so without the threat of ensuing conflict.
Refusal Of Bequeathed Property Or Assets
Although it is slightly less common, there are times when heirs refuse the possessions bequeathed them in a will. Sometimes this stems from unresolved conflict between the heir and the deceased, and other times it is simply for tax purposes. This can be a confusing situation as the executor might assume that he is free to do as he pleases with this seemingly 'unclaimed' asset.
Other times, fearing legal consequences, the executor may simply let the asset sit, unsure as to how to proceed. Thankfully, lawyers in estate planning know that such confusion can be quickly remedied in what is known as a disclaimer. An heir can legally disclaim his or her inheritance, indemnifying the executor to proceed in liquidating the asset or dividing ownership among any number of remaining heirs.
Ultimately, having an experienced estate planning attorney on your side can help relieve stress and simplify an already difficult process. With experience regarding nonexistent assets, disputes in coinheritance, and heir inheritance refusals, it seems clear that there really is no substitute for enlisting professional legal help in probate. Try contacting an attorney from a firm like Auton-Beck Betty A Professional Law Corporation to ensure that the decedent's will is carried out to everyone's satisfaction.
