Probate Attorney – An Overview
What exactly is Probate and what does it entail? The Probate process refers to the last proceedings before a person dies. It includes all the administrative work involved in the estate of the deceased including paying any outstanding tax obligations, paying debts, distributing inheritance property and final expenses like funeral costs and probate taxes. The probate process typically occurs when someone dies without a will or with a will that has been contested. It is not mandatory, however, if there is no will it is highly recommended that you fill out a Probate Admission form.Do you want to learn more? Visit Phoenix Probate Attorney .
You can hire probate attorneys on a contingency basis who are paid their retainer fees and then only receive commission on any assets they manage during the course of their work for you. It is best to work with an experienced real estate agent who has extensive experience in these types of estates and who has the expertise to answer any questions you have about how these procedures work and who to contact if you have questions. Many probate attorneys offer free consultation visits to discuss your situation and any applicable options you may have. If you are having difficulty deciding which probate attorney to hire, you may want to seek referrals from family, friends and / or other professionals you deal with in your line of work.
There are several options you have if you do not already have a will or if you do not have a will but want to name a personal representative. The simplest option is for you to establish a living trust to contain your assets, pay an existing Trustee a percentage of your estate assets and designate them as your personal representative. Another option is to appoint an executor, which is generally recommended for people who are suffering from a terminal illness and who cannot handle their own affairs. An executor generally has authority to dispose of your remaining assets and spend the money according to your will. There are some differences between probate and an executor, including the fact that most intestate beneficiaries will be exempt from inheritance taxes.
CONTACT INFO :
Israel & Gerity, PLLC
202 E Earll Dr #440, Phoenix, AZ 85012
Phone No. : 602-274-4400