Probate lawyers typically manage everything from closing an estate’s checking account and property appraisals to helping with asset transfers between beneficiaries.
Estate executors and beneficiaries often seek legal advice regarding legal issues surrounding an estate’s administration, including validating wills (i.e., ensuring they were written when the deceased was of sound mind and body) or helping resolve disputes among heirs. Dallas probate attorneys are needed in several cases and can benefit their clients.
Intestacy Cases
Dallas probate attorneys typically assist executors of estates in the legal process for settlement. They verify whether or not a will is legally valid before assisting in carrying out its terms set by the deceased.
If no will is present, lawyers use state-specific intestacy laws to distribute portions of an estate among family members according to state statutes. They also advise beneficiaries and administrators on legal issues during probate proceedings.
Probate lawyers advise living clients to avoid probate by using payable-on-death beneficiary designations on financial accounts such as life insurance policies, 401k plans, and pension plans with payable-on-death beneficiary designations. This step can significantly lower inheritance taxes while speeding up the probate process.
Wills
Wills are more than just documents to direct where assets should go after death; they also help reduce taxes and family disputes.
Probate lawyers assist executors with many duties, such as filing court documents, settling debts, and appraising assets. Furthermore, they can help settle conflicts among beneficiaries.
Probate attorneys provide numerous other benefits as well, including helping transfer title ownership and resolve tax deduction issues for beneficiaries, as well as dealing with debt collectors and insurance companies.
It may be beneficial for beneficiaries of a large estate to hire a probate attorney as professional expertise from outside will reduce tensions following the death of a loved one and minimize time and costs spent litigating complex cases.
Assets
Dallas probate attorneys assist their clients with the identification and valuation of assets in an estate, settlement of the deceased’s debts, and inheritance distribution as well as all aspects of settlement processes such as filing petitions, collecting life insurance proceeds, settling tax issues, and distributing assets among beneficiaries.
Lawyers cannot prevent family estate disputes entirely; however, they can help ease them by providing their professional expertise in estate settlement processes and expectations regarding inheritance hierarchies.
Add payable-on-death beneficiaries to financial accounts like banks, brokerage accounts, 401K plans, and retirement plans in order to avoid the expense and time involved with probate proceedings. Doing this will allow these accounts to avoid probate altogether.
Debts
Probate lawyers can also resolve disputes arising during the probate process, including those between creditors, beneficiaries, and heirs. Learn about the differences between good and bad debt.
Furthermore, they can assist executors and beneficiaries with ensuring assets are distributed according to legal provisions – helping minimize tax bills that might become payable after death.
Probate attorneys typically offer full-service representation, while others may specialize in only certain services. Probate attorneys typically help identify estate assets, collect them, and file final income/estate tax returns and bills before final distributions to heirs are made.
They may also provide legal advice in cases related to kinship hearings, wills, or accountings that arise during settlement – the length of time needed can depend on both the complexity and size of an estate being settled.
Litigation
Probate lawyers specialize in handling legal matters about the distribution of real estate inheritances after someone passes. As executor of an estate, these legal matters must be carried out according to state law and any wishes expressed through wills from deceased individuals.
Probate can be expensive and time-consuming; however, if the deceased had done proper estate planning, it may even be unnecessary.
Probate attorneys provide services to their clients that help efficiently settle an estate while reducing conflict among family members and creditors – something which greatly alleviates stress after their loved one passes away.
They can file and appeal court rulings, assist with tax filings, value assets before distribution to beneficiaries, settle debts, defend against creditor claims, and much more!
