Probate is a court process that ensures an individual’s assets are distributed as they had planned. This might be a good idea if you have an estate in which you want to make sure your wishes are followed. For example, if the contents of your will do not include any executors or trustees to oversee the distribution of all property to beneficiaries, probate may be necessary. Other examples include if there are more than 5 beneficiaries who will share in an inheritance, or when jointly-owned assets need to be transferred back into the estate after their ownership was improperly recorded with only one person’s name on the title deeds.
You might need Probate Attorney in Reno, NV, if you have real estate, stocks, or bonds that must be transferred to beneficiaries. There are steps in the process that help eliminate fraud and ensure the distribution of assets according to an individual’s wishes. The probate court will supervise the process and appoint a personal representative, who is responsible for managing the estate. This can be someone you name in your will or a family member your state law prefers.
Probate will also be necessary if there are numerous creditor claims against an estate that require payment before the distribution of assets is made to beneficiaries. The court will determine if claims are valid, and how much creditors are owed, and then equalize this with proceeds from sales of property and other assets in an estate.
Is it Essential to Hire a Probate Attorney?
Probate can be an extensive and complicated process, so it’s a good idea to get an attorney who specializes in probate law. Moreover, probates vary from state to state and there are many rules governing the handling of estates that apply only to a specific jurisdiction. If you want to make sure your will is followed in your state, it’s usually a good idea to hire a probate lawyer.
These lawyers can help you follow the right process and give you advice on how to handle property inventories, tax liability, claims against an estate, etc. for the court. An experienced probate attorney will have stronger negotiating power with creditors and other parties when dealing with the distribution of assets from an estate. Probate attorneys will also know how to handle several common problems that can happen in probate court.