Probate FAQ
If you and your family are going through the process of probate or estate planning or estate administration, there are probably many questions going through your mind. One of the first issues you will face is determining which lawyer should represent you. They can examine your unique case and help you make the best decision for you. For answers to some of the commonly asked questions, please see below.
How can I avoid probate?
Some wills require probate in order to determine the validity of the will, so many people are choosing to create a trust instead. Trusts can protect your assets from creditors as well as minimize taxes and probate costs.
What is probate litigation?
If the surviving family member and friends of an individual do not agree with the terms of a will and thing the will was not valid, the process of probate litigation may take place. It is hard for a large amount of people to agree and it is made even more difficult if the will was not written clearly.
What are the factors in estate administration?
When a family member or friend dies, the executor will be responsible to estate adminstiration. The first step will be to gather and appraise the assets of the deceased in order to accurately determine the value of the estate. After that, creditors will have to be paid. If the debts are more than the estate is worth, the court will decide which creditors should be paid first. Lastly, the remaining assets will be distributed among the beneficiaries named in the will.
What are the benefits of estate planning?
Estate planning removes the burden of complicated estate administration from our loved ones. By creating an estate plan, you are able to decide what your medical care should be if you become ill or injured in an accident. It also involves drafting a will or setting up a trust.
Should I create a will or trust?
A trust can be set up to replace or supplement a will. The grantor (property owner) transfers legal ownership of their property or part of their property to an individual or organization to hold in trust for the beneficiaries. A will is a document stating the writer's wishes in regards to their estate after they die. To find our which option is best for you, talk to a probate attorney or read through our information center.