Five Instances When You Need A Probate Attorney To Settle Estate Affairs

The death of a loved one can be overwhelming and stressful, especially when it comes to settling their estate affairs. You need to distribute assets, pay taxes and debts, and finalize the will, among other things. In such situations, it's wise to hire a probate lawyer to guide you through the legalities of the process and ensure everything is handled appropriately. In this article, I will discuss five instances when you should consider hiring a probate attorney to help settle estate affairs.

Complicated Estate

If the estate is complicated with multiple properties, investments, or businesses, it's an indication that you need an attorney's help. A probate lawyer can help structure the assets to minimize taxes, preserve assets, and draft a solid estate plan that meets all requirements. They can analyze the will, identify potential issues, and offer a path forward.

Disputes Between Heirs

Family disputes over estate matters are more common than you think. If your relatives or siblings are battling out for your granddad's possessions or you are facing a contested will, you need an experienced probate lawyer by your side. They can help you navigate complex situations, assess evidence, negotiate disputes, and provide litigation support if you need to go to court.

Unpaid Debts

If the deceased has unpaid debts, taxes, or outstanding obligations, that could impact the distribution of the estate. The creditors can file a claim and seek payment from the available assets. It's essential to hire a probate lawyer to ensure that you don't inherit any financial liabilities you shouldn't. They can negotiate with creditors, file claims, and ensure that all debts are paid correctly.

Business Ownership

If the deceased owned a business, it's crucial to hire a probate lawyer to protect the business's interests and guide you through the legal requirements. A probate attorney can advise you on the business succession plan, dissolve or sell the business, or transfer ownership to the rightful heirs. They can also help navigate employment law, tax compliance, and contractual obligations associated with the business.

Estate Taxes

If the estate's worth surpasses the federal or state exemption limit, you may face estate taxes. A probate lawyer can help structure the assets to minimize taxes, use trusts for charitable donations, or advise on gifting to reduce tax liabilities. They can also help identify tax credits and deductions you may qualify for and ensure the timely filing of tax returns.

Contact a law firm like Commonwealth Legal to learn more.