What are the Common Tasks Usually Executed by Probate Lawyers?
Probate lawyers typically handle a variety of matters, such as dividing up the estate and paying debts. They may also serve as guardians for minors in some jurisdictions. Probate attorneys can be appointed by courts. They could be also self-assigned, in cases where the individual would otherwise need to involve a family lawyer.
This blog post will cover the typical activities a Probate Attorney in Reno, NV, performs and explain why it’s important for individuals to work with one if they are involved with probate law.
- Collecting proceeds from life insurance policies
After someone has passed, the family often becomes concerned with how to collect the proceeds from their insurance policy. It is not always easy to determine who should receive the proceeds and how much they should receive. Probate attorneys can help with this process and make sure that nothing is overlooked.
- Identifying and securing estate assets
Probate attorneys help ensure that the estate is not left vulnerable. Many times, probate attorneys will form an LLC or corporation to hold the assets and represent the legal interest of the deceased. Once an LLC or a corporation has been formed, the probate attorney will draft articles of incorporation for it and the will.
- Obtaining appraisals for the decedent’s real property
It is important that the value of any real property owned by the decedent should be accurately determined. Probate attorneys can help with this task. These attorneys also ensure the proceeds are secured and distributed, following the will or other estate planning documents.
- Assisting in the payment of bills and debts
It is often necessary to pay the decedent’s final bills or debts. Probate attorneys take care of this task and make sure all bills are paid, funeral expenses are covered, and all creditors are accommodated.
- Determining if any estate or inheritance taxes are due, and making sure those debts are satisfied
Probate attorneys must ensure that any tax debts are paid, either with the funds from the estate or by distributing those funds to the appropriate party. Attorneys will also file the appropriate tax documents with the IRS.
- Preparing and distributing assets to beneficiaries
This is perhaps the most important task for a probate attorney. The final goal of this process is to distribute assets following the will or trust document and to ensure that everything is properly recorded by the court. If you need assistance with this type of probate matter, contact a probate lawyer in your area today.
