Why Do You Need to Hire a Probate Lawyer?
Many people have heard about probate lawyers but don’t pay enough attention to know exactly what they are and what they do. There will come a time when you will be faced with the hard reality that you need one. Probate is the process that takes place after the death of an individual whether he or she has a will. It involves the distribution of the deceased’s assets and taking care of tax and debts if there are any.
What are probate lawyers and what do they do?
A probate attorney in Colorado is someone knowledgeable in the laws governing an individual’s will and its execution for that specific state. They can also assist those without a will. However, dying without a will means dying “intestate,” and your assets will be distributed based on the intestacy laws of the state where your property is located without any consideration to your wishes.
The responsibilities of probate lawyers are wide and varied but here are some of their common tasks:
- Conduct valuation of the entire estate,
- Filing of all pertinent documents required by the court,
- Collect and manage all life insurance proceeds,
- Handle any disputes that may emerge between the personal representative and beneficiaries,
- Ensures that all payables are taken care of such as outstanding debts and taxes,
- Handle the transfer of deed titles as stated in the decedent’s last will, and
- Distribution of assets to beneficiaries after all liabilities has been paid out.
The importance of hiring a probate lawyer
A probate lawyer can help secure the future of your family even after you pass away by assisting you with the creation of your last will, as well as set up a living trust for you. Aside from that, it is also part of a probate lawyer’s duty to make sure that the decedent’s last will is valid and has not been tampered with. They will also function as a mediator between the personal representative and the beneficiaries if they are not on good terms or if there are any disputes on the disposition of the property.
Sadly, many don’t see the need to hire a probate lawyer until someone passes away. When this occurs, the race in finding a probate lawyer starts. However, this does not give you much time to choose the lawyer who can best represent you and your interests. At the end of the day, no can cheat death. However, you can certainly prepare for it.