Estate administration should be rather straightforward.
While the procedure may vary slightly, it typically starts with an executor obtaining a relevant court order granting them formal authority to act on the deceased’s behalf. The executor then distributes the assets in strict compliance with the conditions of the will.
However, that’s just the ideal situation. In most cases, the process of executing a will is often marred by disputes that only an experienced probate attorney can handle.
Here’s the role of a probate lawyer in settling an estate.
1. Establishing the Presence of a Will
Not everyone leaves behind a will. But for those who do, this document becomes central to the deceased’s estate settlement.
When you hire a probate lawyer, the attorney will first establish the presence of a will. The document is typically under the custody of a trusted executor.
If there’s no will, the deceased estate is settled in accordance with relevant state laws. A no-will settlement requires the partnership between a probate attorney and an administrator.
There are numerous probate lawyers in Florida, but selecting the right one is crucial. However, you deserve the most experienced person for the job.
Vet an attorney’s qualifications on the state bar website before hiring them. Besides, read online reviews to understand what previous clients think about the law firm.
It’s also important to consider the lawyer’s pricing model. Choose a Florida probate attorney flat fee as opposed to hourly billing. This prevents you from paying more if the case drags on longer than you anticipated.
2. Validating the Will
Determining whether the deceased left behind a will is only half the work. The other work entails validating the document’s authenticity.
To prove that a will is genuine, a probate lawyer will submit the document to a court of competent jurisdiction. The court reviews the document and ensures it aligns with applicable state laws.
Validating a will doesn’t just confirm its legitimacy. It also enables a probate lawyer to anticipate any disputes and prepare accordingly.
3. Identifying and Valuing Assets
Some wills are elaborate enough, pinpointing every asset’s location. But others aren’t always so detailed.
Once a probate lawyer gets hold of the deceased’s will, they’ll strive to locate the documented assets. These could be bank accounts, business investments, real estate properties, or personal effects.
The attorney will then conduct rigorous asset valuation before sanctioning any estate settlement. Each appraisal focuses on an asset’s prevailing market value, intrinsic value, and outstanding debts.
4. Managing Debts and Taxes
Most individuals leave behind some financial obligations.
When a person dies with outstanding loans, a probate attorney will identify and notify their creditors of their demise. They then ensure all debts are fully repaid before settling the estate.
The same is true for taxes. Whether it’s outstanding income tax, corporation tax, or withholding tax, such must be remitted to the Internal Revenue Service (IRS) before going ahead with asset distribution.
Final expenses are typically also subtracted from the deceased’s estate before administering their will.
5. Distributing Assets to Beneficiaries
A probate attorney ensures all legal heirs receive their fair share of the inheritance. As mentioned, state laws become the default reference where there’s no will.
By overseeing estate settlement, a probate lawyer helps to manage challenges like conflicts among the heirs. They interpret the will in line with the deceased’s wishes and relevant state laws.
If disputes arise, the attorney can play a neutral mediator while protecting their clients’ interests.
6. Offering Legal Guidance to the Executor
A probate attorney helps define the executor’s roles. This prevents the executor from overstepping their mandate, which could arise from the huge responsibility entrusted to them by the deceased.
Probate lawyers are also trained on state-based inheritance laws. Their legal counsel can prove invaluable to executors, especially if prospective heirs choose to contest a will in court.
Moreover, a probate attorney constantly reminds the executor to act in the best interest of the deceased’s estate.
Asset distribution must strictly comply with the conditions of the will and not be based on the executor’s personal biases.
7. Protecting the Executor
Heirs and beneficiaries may accuse the executor of all manner of wrongdoings.
Whether it’s doctoring the will or making unauthorized withdrawals, these allegations can weigh heavily on the executor’s reputation.
It’s a probate lawyer’s job to protect the executor from unfounded accusations.
By providing solid legal guidance to the executor, a probate attorney can also help them avoid personal liability for errors of commission and omission.
8. Providing Peace of Mind
The probate process may be inherently time-consuming. But the good news is, you don’t have to do all the legwork by yourself.
All you need is to find a reputable probate attorney.
According to previous studies, the right legal representation can improve clients’ overall health and well-being.
A probate lawyer streamlines estate settlement by safeguarding your rights throughout the process. They also offer legal counsel to the executor, interpret contentious clauses, and represent the estate in court if need be.
Final Word
Navigating inheritance matters can set you off on a roller-coaster of emotions. The experience is often more exasperating, where prospective heirs feel shortchanged and choose to contest the will.
Fortunately, you can ace the process by working with a reputable probate attorney.
For the best outcome, choose a probate lawyer with a proven track record of handling similar cases. Read online reviews for better insights into the attorney’s expertise.
And since inheritance laws are jurisdiction-specific, insist on a lawyer with an in-depth understanding of Florida probate laws.
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