Legal Help In A Difficult Time
Whether you are a will executor, a trustee, a state administrator or potential beneficiary, the probate and estate administration processes are difficult and confusing. In addition to the emotional challenges involved, the legal process can be complicated if you are not familiar with it. It takes legal training and experience to know your rights and protect your interests in the process.
At Applegate Fifer Pulliam LLC, our Jeffersonville lawyers have the experience and knowledge to help you through this process. We can represent you regardless of your role in the process. If you have named an executor or administrator, or if you are a potential beneficiary, we can walk with you through the process. Our attorneys will help you understand your rights and options and will protect your financial interests.
For executors and administrators, it is particularly important to work with an exceptional legal team, as you could face legal problems and lawsuits if you make mistakes in the process. We can help you.
Steps In The Probate Process
When a loved one passes away, there are many details that must be sorted out as you grapple with the emotions that come with such a loss. There are several steps involved in the probate process, including;
- Inventory: Once probate has begun in the appropriate county, the first thing to do is get a clear inventory on all assets and debts. Assets can include real property, automobiles, investments, retirement plans, personal property, etc.
- Pay bills and debts: Before the assets can be distributed among the beneficiaries, the bill holders, creditors and lenders obtain satisfaction from the estate. This can include outstanding tax obligations, as well.
- Distribute assets: After the debts and bills are handled, the next step is to distribute the assets to the appropriate beneficiaries. If there is a proper estate plan, the will, trusts and other documents the estate plan contains will determine the distribution of assets. Without this estate plan, assets are distributed according to state law.
- Close the estate: Once all of the assets are properly accounted for and distributed, the next step is to simply close the estate.
Although the process is generally simple, each of these steps involves distinct and nuanced procedures. Our attorneys know what to expect in these steps and what the law requires. We will walk you through the process.