Understanding the probate process
Probate is a process of estate settlement in court. It is a process in which a will is proved in a law court to see if they are valid and true enough to be approved and implemented. The process could however, by a long rigorous battle and it takes a probate attorney in Kings to guide you through this entire probate process.
Probate follows a legal process where your estate plans or last Will is verified in a probate court, before distribution of your assets and properties according to the will. Depending on some factors — such as the state laws binding your locality — the probate process can be quite complex and demanding.
All the steps involved in probating an estate depend on the probate laws where the decedent lived at the time of death, as well as any other state where the deceased owned properties. Also, the steps required for settling an estate Will differ based on whether the decedent died testate, with an appropriate and valid last Will and testament. If peradventure, the decedent died intestate, without a valid last Will, then, a different approach on probate will be used by the court.
Do you need a last Will to prevent probate?
Last will are always faced with probate before they can be implemented. When you pass away, your family is faced with the challenge of managing and sharing your assets among themselves. This is a delicate, emotional and trying time, when they will be faced with a lot of decisions to make. Leaving them without a Will–a valid one–will make things even more difficult for them. Probate in itself is the legal process of determining the validity of a will before its contents are carried out. Not all Wills are valid. A will may be contested. When one or more parties feel that the deceased was forced into signing the will, or that they are being cheated out of their inheritance, such party may issue out a petition of contest of will. Thus, increasing the probate process.
In the absence of a valid Last Will prior to the death of the decedent, such situation is remedied by the State’s intestacy laws. This law varies from state to state, as a Probate attorney Kings will explain, and it involves different complex processes. Albeit, whether the estate is being probated or subjected to intestacy, the Surrogate Court demands provision of detailed information about the next of kin as well as the monetary worth of the assets.
Estate planning attorney would attend to your estate needs
Estate planning attorney understand that estate planning involves a varying degree of complexity from one individual to another. You should contact and speak to an estate attorney near you to achieve personal, family, tax objectives of your estate.
Whatever your concern is for your estate, the estate planning attorney New York has what it takes to address that issue and find you the best possible solution. Typical services of the New York estate attorney includes:
- Preparing a will that states how your property passes down to your heirs, ensuring that this will conforms with New York estate laws
- Creating a tax-efficient plan that greatly reduces your estate tax or completely avoids it
- Help executors and estate administrators during the probate process and disbursement of property
- Help facilitate the transfer of your assets during your lifetime by creating a trust
- Gives you asset protection that seeks to shield your assets from creditors and taxes
- Help to transfer your IRAs, insurance policies, personal properties into a trust
- Help you prevent probate through the proper estate documents. The estate attorney would also guide you through probate processes.
The New Estate planning attorney can help you avoid probate
By creating a living trust and funding it with your assets, Probate can be avoided. However, trusts are delicate estate planning tool. There are different types of trusts and each has its own merits and demerits. In addition, not all assets should be transferred into a trust. It is therefore important to seek professional help from the estate planning lawyer. Greatly experienced in Trusts and estates, he’ll offer you professional advice and help in creating a trust that serves your estate goals. Are you living anywhere with the zip code 10032? Contact the New York Estate planning attorney closest to you today.