When a loved one dies, finalizing their estate is not as simple as handing over a will. There are legal processes that ensure properties are distributed evenly and bills are paid. A probate solicitor can help with all of these processes to ensure that the deceased’s estate is properly taken care of.

Accurate asset valuation can prevent legal disputes by making sure beneficiaries receive the correct proportion of the estate. You may not know what a probate attorney does. In this article, we discuss six roles of a probate solicitor that you may want to know about.

1. Legal Guidance and Assistance

A probate solicitor can guide the estate through the probate process. It involves petitioning the probate court to obtain testamentary letters. This document gives the executor the legal power to control the deceased’s estate.

Probate solicitors offer specialized legal advice on state probate laws and court procedures. Their guidance on adhering to relevant laws minimizes risks of errors, delay, or litigation, thereby allowing the estate administration process to move forward. This, in turn, paves the way for the legal recognition of the estate.

2. Asset Valuation

Probate solicitors assist in identifying and valuing the estate’s assets, including real estate, bank accounts, investments, and personal belongings. Proper valuation forms the basis for calculating estate taxes and the fair distribution of assets. Their knowledge also allows all the assets to be recorded and accounted for properly, which is needed when filing tax returns with the Internal Revenue Service (IRS).

3. Paying Debts and Taxes

A probate solicitor handles unpaid debts and tax bills before the distribution of assets. This includes calculating and paying federal estate taxes and filing final income tax returns when they become due. A probate lawyer’s work will likely reduce the estate’s tax burden.

They collaborate with accountants to ensure that all creditor claims are valid and are paid under probate laws. This process can save the estate from financial and legal issues that may develop in the future.

4. Resolving Disputes

A probate solicitor acts as a mediator in contested cases. These cases can involve the validity of a will, claims of undue influence, or concerns about the conduct of an executor. The solicitor resolves these conflicts through negotiation or litigation. This kind of intervention minimizes the emotional and financial cost of prolonged disputes.

5. Reducing the Executor’s Personal Liability

Executors become personally liable if mistakes are made in the administration of the estate. However, they can reduce the risk of personal liability by employing a solicitor. Probate solicitors minimize this risk by offering comprehensive legal guidance and advice on all aspects of the process.

Where required, solicitors ensure that creditors and beneficiaries are given appropriate notice. This limits the executor’s exposure to legal claims in the future. Thus, protection is provided to those in charge of the estate’s administration.

6. Fair and Timely Distribution of Assets

Timely distribution of assets is necessary to prevent financial distress and disappointment to the beneficiaries. A probate solicitor handles the distribution to ensure that it adheres to the provisions of the will. In the absence of a valid will, the distribution follows intestacy law.

Probate solicitors allow family members and executors to focus on personal matters by handling paperwork and communicating with banks. This assistance is crucial during difficult and demanding times. Their support can prevent arguments and delays, ensuring assets are transferred sensibly and in good time.

Conclusion

Dealing with probate can be confusing, stressful, and emotionally draining, especially when you are still grieving the loss of your loved one. However, the services of a probate solicitor can help you navigate this process. They provide guidance on legal procedures and simplify jargon to make the process less overwhelming. Employing a probate solicitor helps with processing the estate while adhering to local laws and regulations. It also brings clarity, efficiency, and peace of mind during a challenging time.

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