When an individual goes through the estate planning process, they will likely create a will and appoint an executor to their will. When this person eventually passes away, the executor of the will has the responsibility to carry out this individual’s last wishes by distributing all of their assets, as well as taking the will to probate and handling any outstanding financial matters.
It is common for a family member or a loved one to be the executor of a will. Though this may be a difficult time for many, losing a loved one is never easy, it is also a hard time due to the fact that this loved one will also carry the burden of handling the legal and financial matters of their loved one’s estate. This is why it is important for the executor of a will to be aware of their responsibility for this role before agreeing to it.
What is probate?
Probate is the process of administering the estate under the supervision of the court. The administer of the estate should consult with an experienced probate and estate administration attorney that can guide them through the steps of this process. This is important because this process can become overwhelming and confusing at times.
Some of the most important aspects of the probate process that an attorney can assist with include the following:
- Proving that the will is valid
- Identifying and placing a value on assets listed in the will
- Managing transactions
- Paying outstanding debts, funeral expenses, and filing tax returns
- Distributing assets to the beneficiaries named in the will according to the state laws of intestate succession if there is no will
- Handling any instances of a contested will and probate disputes
It is important to understand that probate costs can include the following expenses:
- Executor or administer fees
- Attorney’s fees
- Estate taxes, and more. If you need an attorney to guide you through the estate process, contact our firm today.
If you have questions regarding your role as an executor, contact the Law Offices of Marc N. Needelman to schedule a consultation with our experienced legal team. We are prepared to walk you through each step of the probate process ahead. You do not need to go through these steps alone. Our firm is here to help. Get started today by giving us a call.
Contact our Firm
Marc N. Needelman is an experienced attorney working throughout the state of Connecticut. If you need an attorney who is ready to fight for the financial compensation you deserve, please do not hesitate to contact us to set up a free initial consultation. Our firm deals with matters relating to real estate, personal injury, criminal defense, estate planning, and more.
