Dealing with an estate after a loved one's death can be challenging. You want to make sure that their last wishes are honored and that you can adequately manage what's left of their estate. Probate is a legal process that takes care of what's left behind after death. While your loved one may have left behind a will, there may be a few things that you need to take care of, and this is where probate law comes in. Here are three things that you should know about probate law.
1. What Probate Law Entails
The first thing that you should consider is what happens during the probate process. Knowing what happens during this process is half the battle. The exact way probate works will vary from one state to another. However, the basic process is more or less the same. If there is a will, it will be authenticated. After that, any debts or taxes owed by the estate will be paid. An executor for the estate will also be appointed during probate. If your loved one did not make a will, the assets will be divided according to state law.
2. When You Need a Probate Lawyer
The probate process may be confusing at times, and there are many situations where a probate law attorney will come in handy. If the will in question is likely to be contested, it's a good idea to seek a probate lawyer's services. Large estates, estates that involve commercial property, and estates with more debt than assets may benefit from a probate lawyer's legal expertise during the probate process. Even if you only have a few questions during this time, seeking out a lawyer may be in your best interest.
3. How Much a Lawyer Will Cost
How much your probate lawyer costs will depend on the probate process's complexity and what services you require. If the situation is straightforward, you'll pay less than you would for a more complicated probate situation. Probate attorneys will charge either a flat fee, an hourly fee, or a percentage of the estate, depending on your needs. Before hiring an attorney, make sure you discuss their fee structure and how much you will pay for their services.
Probate law can be confusing at times, and there are a few things that you should know about this process if you are dealing with the estate of a loved one. Knowing what probate law entails and how the process works are vital. You'll also want to know when it's in your best to seek out the services of a probate attorney. An attorney's costs will vary depending on the situation, so make sure you discuss fees ahead of time.
For more information on probate law in your area, contact a local legal firm.
