Litigation over probate can be triggered by a variety of family circumstances. Still, there are two fundamental reasons: families disagree with how to handle a mentally incapacitated
In the US, estate administration involves distributing the assets of a deceased individual. This process typically includes
When estate planning is done thoughtfully, probate may be avoided or minimized. In reality, most heirs will have to navigate the probate
Probate is a standard legal procedure that formalizes how some assets pass from a deceased person to his or her chosen heirs or beneficiaries. Whether or not you require probate depends on the type of property and how you own it, and the state laws in which you live. While probate can be a complex process for vast estates, it is a simple formality for most Americans. Essentially, probate allows a judge to give legal permission for assets to pass whether or not there is a last will.
As part of the probate process, a will is recognized and recognized as valid by the court, a personal representative (executor) is appointed, and assets are distributed to intended beneficiaries. It also requires paying the decedent’s outstanding debts and federal and state taxes. Each state has different laws determining if probate is necessary or can be expedited, whether the fiduciary requires bonding, and what reports must be prepared. The probate experience is unique, as no two wills are the same.
Despite sounding complex and expensive, probate is a standard legal process that transfers assets from decedents to their chosen beneficiaries or heirs. Whether or not you require probate depends on the type of property and how you own it, and the state laws in which you live. While probate can be a complex process for vast estates, it is a simple formality for most Americans. Essentially, probate allows a judge to give legal permission for assets to pass whether or not there is a last will.
Knowing the lawyer’s role is one of the first steps you should take when starting the probate process, no matter if you’re the Executor or an heir. One of the biggest sources of conflict in probating the estate is understanding the role of the lawyer hired by the Executor of a probate estate. Many Executors do not understand the probate process and leave the tasks up to the lawyer. The heirs of the estate may hear only from the lawyer or may hear the Executor say, “This is what the lawyer says we have to do.” This often raises the question, does the lawyer owe a fiduciary duty to the heirs of the estate since the Executor owes a fiduciary duty to the heirs?