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Essential Role Of A Probate Lawyer In Managing Your Assets
As they say, one of the things that you cannot escape is death. When this time comes, who shall settle the fate of your estate? This matter in the family definitely requires a legal service.
As a beneficiary, you would not want your decedent’s efforts in establishing the estate to be put to waste. What you want is for the estate to benefit your rightful heirs.
It is your utmost responsibility to ensure that the estate plan is administered according to the instructions and the law. In Chandler, Arizona, Keystone Law Firm provides clients with the efficient services of experienced probate lawyers. They help the settlement of the affairs of the decedent in the most preferable and smooth sailing way.
Get To Know Probate Lawyers
A probate is a process that manages the transfer of assets from a deceased person to the intended beneficiary. A probate lawyer helps you settle claims using the resources from the decedent’s estate.
Therefore, the executors must pay the decedent's obligations and distribute the estate's assets in accordance with the will or state law throughout the probate procedure.
In Arizona, the actions of a probate lawyer depend on whether the decedent had a will. A will is a legal document that outlines the decedent’s desires for the division of your property and even the care of any minor children.
A Probate Lawyer When There Is A Will
A probate lawyer's main responsibility when there is a will is to provide advice. If the decedent has a signed last will and testament at the time of death, the executor may hire a probate lawyer.
The lawyer can assist them through the probate procedure in accordance with the stipulations of the will. However, if there is contention from the beneficiaries or executors, then a probate lawyer can represent a party in the probate litigation.
Role Of Probate For Intestate
According to Arizona law, an “intestate” refers to a person who died without securing a will. In this case, the law shall determine the terms of the inheritance.
It is crucial to remember that both the estate administrator and the probate attorney shall distribute assets in accordance with the intestate policy. State law governs the division of estate assets regardless of what the deceased individual stated while they were still alive.
The terms of inheritance can be complex as to Arizona law. The gist of it entails inheritance based on the relationship to the decedent.
This comes from the spouse the children, and more. Therefore, the retainment of a probate lawyer requires great importance.
There are instances that issues such as family conflict affects the distribution of assets. The fair distribution of the assets can also be at stake. The probate lawyer is helpful in managing this conflict and arriving at a favorable settlement.
Summary
A probate lawyer generally ensures that the assets of the deceased go to their rightful beneficiaries. Moreover, a probate lawyer is vital in the probate process.
The probate lawyer initiates the collection of proceeds from life insurance.
Preparing and filing all documents required before the court.
Ascertaining whether there are estates that are due and making sure that these are paid.
Resolving income tax issues.
The actual transfer and distribution of assets to the beneficiaries.
Although a probate lawyer is not a necessity, it is essential in facing probate especially if the estate is large. Do not waste resources and better speak with the probate lawyers at Keystone Law Firm. The firm is within the area of Chandler, Arizona. If you reside within and have estate concerns, reach out now.
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