A probate lawyer is vital to anyone who needs to make a will. A will is a legal document that names a person or group of people to be responsible for someone else's debts after someone's death. A will can be drafted with very little guidance from anyone, and there are no state laws that dictate how a will should be prepared. There are certain guidelines that you should follow when making a will though.
You will need to appoint an executor if you die unexpectedly. An executor is someone whose duties will be to manage your assets - they will be responsible for making sure that your debts and other obligations are paid, as well as ensuring that any property you may own passes away intestate. An executor cannot receive compensation if your death happens during the term of their contract. This is why it is important to make sure that your will is properly executed by an experienced probate attorney before you pass away - if this happens, you could owe your executor a great deal of money. If you fail to do this, then you could owe your executor even more money. You can learn more here about sole proprietorship here.
Your next step is to set up a meeting with your probate lawyer. They will ask you several questions about the rest of your life and your personal assets. You will likely be asked about your education, your employment history, and any lawsuits you might have faced. These questions are designed to determine your physical condition and to determine the likelihood that your estate will be subjected to probate. For example, did you keep your home in compliance with your mortgage? If not, then you will probably face no probate problems.
If the answer to the last question is "yes," then your estate planning attorney should tell you about a power of sale clause that can be included in your will. In most states, the Probate Court has the authority to order a power of sale, which means that if your deceased loved one's property has not been sold before they passed away, then it can go into the probate court's buying committee. Power of sale clauses are very common in estate planning agreements. Click here: www.hayeshunterlaw.com for more details about the best business attorney.
Finally, your probate lawyer will discuss the distribution of your assets. This is where some lawyers get tripped up. Most people who pass away have a significant number of assets - think about how many cars, homes, jewelry, antiques, artwork, and other items your loved one might have accumulated over the years. While you and your lawyer may come up with different distribution plans, keep in mind that the plan you reach is likely to take at least a few days to finalize.
Your probate lawyer might suggest a revocable living trust, which allows the proceeds from the property to be distributed according to instructions set forth in the trust. The remaining assets would then be distributed according to the wishes of the deceased estate beneficiaries. Many people feel this type of plan is the best way to accomplish, but it can also take a lot of time. Again, speaking with your estate lawyer before executing a trust, is very important.
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