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Faizan
It's always easier to turn over legal matters to a professional, especially during an emotionally trying time following the death of a loved one. But legal help can be expensive. You can decide whether it is wise to hire an estate attorney to help you with probate by assessing the size and complexity of the estate.
Probate Process
When somebody dies, his estate generally must pass through a formal legal process called probate whether or not the deceased left a will. Probate is the court-supervised administration of the estate. The executor or personal representative collects estate property and pays debts before distributing assets to the beneficiaries named in the will or, in the absence of a will, to the heirs at law. If you are the person named to administer the estate, you have the right to hire a person or persons -- such as an attorney, accountant and/or appraiser -- to assist you. You can also pay them with estate funds.
Estate Value
The size of your late husband's estate is an important factor in deciding whether to involve an attorney in probate. Life insurance policies, bank accounts and investment accounts generally pass directly to a named beneficiary outside of probate. In most cases, the larger the probate estate, the more complex the probate process becomes. Some states have special, simplified probate procedures for small estates.
Complexity of Investments
You may make a short list of the assets left by your deceased husband that will be included in probate. If he left only a few major assets such as real estate, you may be able to handle probate on your own. However, if the list includes complex investments or even simpler investments that you do not understand, it may be prudent to bring in legal help. You may review your state's probate system by visiting the court or looking up its website. Some states are simplifying probate so that attorneys are not always necessary, while other state systems are highly complex.
Your Temperament and Skills
Evaluate your own skills and situation. If you are still shaky from the shock of your husband's death, have small children to look after or are hopeless with finances, you may not be up for the job. On the other hand, you may not need legal help if you are adept at managing finances and prepared to tackle practical issues such as locating assets.
Controversial Will Provisions
Consider the level of controversy the probate of your deceased husband's will is likely to involve. If children were disinherited in the will or controversial bequests made, or if the latest will may be attacked or competing wills presented, you may want to bring in bigger guns. Fighting a will contest in probate court is not a job for the inexperienced or weak of heart.
Probate Process
When somebody dies, his estate generally must pass through a formal legal process called probate whether or not the deceased left a will. Probate is the court-supervised administration of the estate. The executor or personal representative collects estate property and pays debts before distributing assets to the beneficiaries named in the will or, in the absence of a will, to the heirs at law. If you are the person named to administer the estate, you have the right to hire a person or persons -- such as an attorney, accountant and/or appraiser -- to assist you. You can also pay them with estate funds.
Estate Value
The size of your late husband's estate is an important factor in deciding whether to involve an attorney in probate. Life insurance policies, bank accounts and investment accounts generally pass directly to a named beneficiary outside of probate. In most cases, the larger the probate estate, the more complex the probate process becomes. Some states have special, simplified probate procedures for small estates.
Complexity of Investments
You may make a short list of the assets left by your deceased husband that will be included in probate. If he left only a few major assets such as real estate, you may be able to handle probate on your own. However, if the list includes complex investments or even simpler investments that you do not understand, it may be prudent to bring in legal help. You may review your state's probate system by visiting the court or looking up its website. Some states are simplifying probate so that attorneys are not always necessary, while other state systems are highly complex.
Your Temperament and Skills
Evaluate your own skills and situation. If you are still shaky from the shock of your husband's death, have small children to look after or are hopeless with finances, you may not be up for the job. On the other hand, you may not need legal help if you are adept at managing finances and prepared to tackle practical issues such as locating assets.
Controversial Will Provisions
Consider the level of controversy the probate of your deceased husband's will is likely to involve. If children were disinherited in the will or controversial bequests made, or if the latest will may be attacked or competing wills presented, you may want to bring in bigger guns. Fighting a will contest in probate court is not a job for the inexperienced or weak of heart.
Posted in: Estate Laws
