Category: Probate Law

5 Questions to Ask Before Hiring an Estate Planning Attorney

Creating an estate plan is crucial for anyone who wants to ensure their assets and loved ones are well taken care of after they die. This involves drafting plenty of legal documents, making it important to find an attorney who is experienced and knowledgeable in estate planning. Individuals can often identify the best attorneys for their needs by asking them the following questions.

1. What Types Of Services Do You Offer?

The scope of an estate planning attorney’s services can vary significantly, and it’s important for individuals to understand what each firm offers before deciding to work with them. Some attorneys may focus exclusively on creating trust documents, while others may also help with other aspects of an estate’s transfer, such as taxation and minimizing risks. Individuals should also make sure that their prospective lawyer has experience with the types of assets they own, such as real estate, stocks and other financial investments.

2. How Long Does It Take To Complete An Estate Plan?

The length of time that it takes to complete an estate plan can vary considerably depending on the complexity of an individual’s situation. The creation of an estate plan is usually a collaborative process, and it’s crucial for potential clients to find out how much time they can expect to spend working with their attorney. Some firms like Davis & Associates Attorneys at Law will charge a flat fee for their services, while others will bill their clients on an hourly basis. Individuals should make sure to ask prospective attorneys about their billing methods and whether or not they offer upfront estimates for their services.

3. Do You Have Any Special Research Tasks?

Some aspects of estate planning require an attorney to perform a great deal of research. This is especially true for individuals who have complex family histories or substantial assets that need to be accounted for in their plans. Finding information regarding next of kin and heirship is often difficult, as families can become estranged over the years, and ancestry records are frequently lost or improperly maintained.

4. Do You Stay Up-To-Date With Changes in Laws?

The estate planning process is a complicated one, and it’s vital for an attorney to be aware of changes in laws that might impact their clients. This can involve regularly attending continuing education courses and seminars, as well as reading legal journals and other sources of information. Many attorneys also participate in legislative advocacy programs to support changes that would benefit their clients.

5. What Are Your Options For Choosing An Executor?

One of the most important parts of an estate plan is choosing a person to manage the estate after an individual’s death. An estate planning attorney can review the various options available and recommend a choice that is in line with an individual’s goals and circumstances. They can also help their clients create effective letters of instruction that detail their preferred methods for managing an estate and how they wish to be distributed after their death.

How Probate Lawyers Handle Estate Planning?- Read On!

Probate is the sequence of events that occur in the administration of a decedent’s estate. A probate court is a legal forum designed to provide the beneficiaries of a decedent with procedures for resolving questions concerning the decedent’s personal property and financial affairs. Once a decision has been reached by the probate court regarding the distribution of the decedent’s properties, an order is sent to the decedent’s personal representative requesting that the proceeds from the decedent’s estate be distributed. A last will and testament is then executed to comply with probate procedures. Once the probate process has been completed, an estate distribution order is issued.

 

Probate Court is an institutional court that exercises jurisdiction over counties, including common law, and federal civil cases. The Probate Court usually has the authority to grant allowances, privileges, and powers to a surviving spouse or an individual who is the beneficiary of a decedent’s estate. Probate does not limit the decisions of the probate court; however, it does require compliance with probate proceedings. It is in the best interests of the surviving spouse or the individual requesting the distribution of the deceased’s property to request that a last will and testament are prepared and filed promptly prior to the distribution of the decedent’s estate.

 

Probate is one of two major types of procedure that the Court of Probate orders creditors to pay, the other being foreclosure. Probate is mandatory before the release of property from the estate of a deceased person, whereas foreclosure is not always required. The probate court determines whether a decedent’s property should be distributed as provided in the probate proceedings. If the probate court determines that the decedent’s estate should be distributed under the provisions of the Probate Code, the proceeds of the decedent’s estate are exempt from taxation.

 

The proceeds from the probate proceedings are distributed between the beneficiaries or creditors and the remaining debts and accrued capital gains or losses. One can anticipate that creditors will pursue the collection of debts against the decedent’s properties no matter what the ultimate decision of the court may be. Although creditors are often successful in obtaining judgments against the deceased for their unpaid debts, they may be left with very little assets to recover. Most people do not realize the importance of planning for probate proceedings and the distribution of assets prior to estates settlement. Failure to properly distribute probate assets may leave creditors with very little to recover at estates settlement.

 

Although most people have no knowledge of probate proceedings, they are vitally important to the financial well-being of any family or business. The probate process provides the means for an individual or business to distribute its assets after a relative dies, passes away, or becomes incapacitated. In addition to providing funds to the heir or beneficiaries of the decedent, the legal process serves as a binding contract in which all beneficiaries agree to repay the deceased person’s creditors on the death of the individual. There are many different types of probate estate planning instruments that can be used to restructure the probate process, including asset protection trusts, revocable living trust, and probate alliances. These types of planning procedures are used to assure that all assets are distributed to the heirs or beneficiaries according to their own wishes and preferences, said a known estate planning lawyer in all of Georgia.

 

Estate planning is a specialized area of the law, and is best handled by a qualified probate attorney. The initial meeting between an attorney and client should begin with a comprehensive questionnaire of their personal and business financial information. The goal of this initial meeting is to gather information on the decedent’s lifestyle and assets to help the attorney to develop a plan for the new probate process. It is also important to discuss what type of hearing would be convenient for both parties. This may include either a preliminary evaluation in which case the attorney will gather information through interview, investigation, and consultation with other experts, or a more in depth evaluation where the probate proceedings will take place. By working with a qualified probate attorney, individuals can rest assured that their final wishes will be respected during the new probate process.