When to Hire a Probate Attorney
Finder Law Serves Clients Across Jefferson City, Columbia, and Central Missouri
March 30, 2024
When a loved one passes away without a trust in place, their assets must go through probate court. This is a complex and time-consuming process, so an experienced probate attorney can be a great asset to you in this time. But how to you know if you need a probate attorney?
Did you know that over 50% of American die without any estate planning in place, which leaves many people left to navigate the probate process in order to close out their loved one’s estate. Depending on the size of the estate, different types of paperwork and processes are required. Another potential source of stress is whether there will be any contentious battles over assets among the beneficiaries. An attorney can help settle these matters & act as a neutral third-party to resolve these issues. They can explain the process, help settle debts, ensure life insurance proceeds are collected, & help with the paperwork required in probate court.
Some important facts to know about a loved one’s estate are as follows:
- Whether or not they have Medicaid – they will be notified upon your loved one’s passing, so knowing this before filing with the court can help avoid unnecessary expenses.
- The approximate size of the estate – Small estates (under $15,000) may not require any publication, which could factor in to any debts or taxes owed by the estate. Estates up to $40,000 may be done more cost-effectively by filing out a small estate affidavits & may be settled more quickly. For estates over $40,000, a full estate is required. That means the full probate process must be followed.
- If there’s a will – wills often state whether a bond will be required for the person administering the estate. If so, they must have good enough credit to qualify for such bond.
- Potential family disputes – the passing of a loved one and the determination of who gets their assets can bring up a lot of issues amongst family members. If you are prepared for this possibility, it will help.
- Real estate assets – If the only asset is real estate, there is a process that may allow for avoiding probate altogether.
So do you need a probate attorney? Only you can answer that question, but if the process seems overwhelming or confusing, it is best to hire experienced legal counsel. The probate process is something many people find difficult to do alone & in some cases, the court may not allow you to file documents without an attorney involved.
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This blog is for informational purposes only and does not constitute legal advice. For specific guidance, please contact our office directly.
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