questions to ask an attorney when settling an estate

Here are several questions you should ask yourself: When meeting with a potential estate planning lawyer, how comfortable do you feel? Does your advisor communicate well and clearly?

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What are the best questions to ask a lawyer?

It is always essential to consult with a probate attorney to ensure you are on the proper track in settling an estate of a deceased loved one. The questions to ask a probate attorney can be categorized as substantial, expertise, and financial. SUBSTANTIVE QUESTIONS TO ASK A PROBATE ATTORNEY. First, it’s always important to ask questions about the probate …

What questions should I Ask my Lawyer?

The thought of planning your estate may seem daunting. You might wonder where to start or what you should ask your attorney. To get your estate plan off on the right foot, consider the following six questions to discuss with your estate planning attorney. Use Your Time Wisely A Get-Started Guide to Seeking Sound Advice 2 3 4 5

What to ask your estate planning lawyer?

“I’m not rich so do I really need a Last Will & Testament?” The answer is simple, as Chernoff explains. “The reason you need a Will is because you should be the one who designates who takes care of your stuff, and you should designate who should get your stuff. Because otherwise it may go to people who you don’t want to have the stuff.”

How to interview a real estate lawyer?

The grieving process is difficult enough, but there will also be a funeral to plan, relatives to notify and financial issues to handle. Meeting with an estate attorney as soon as possible can ease your burden and make a difficult time easier to bear. Call Arizona Estate Attorney Dave Weed at (480)467-4325 to discuss your case today.

What are good questions to ask lawyers?

Questions to Ask Your Lawyer During a Consultation1) What kind of experience do you have with similar cases?2) What would be your strategy for my case?3) Are there any alternatives to going to court?4) What are my possible outcomes?5) Who will actually handle my case?6) What is my role in my case?More items...•Jan 29, 2017

What is it called when you settle an estate?

Estate administration is a legal process to settle the affairs of a person who passed away. Through this process, their debts are settled, and their assets are distributed. There may be other matters to resolve as well, such as who gets custody of their minor children.

What questions to ask when setting up a trust?

5 Important Questions to Ask When Forming A Trust– November 29, 2021 by Rachel RoanWhy do you need a trust?Who will the trust benefit?Who will administrate the trust, now and later?Which assets will fund the trust?What are the long-term tax consequences?Nov 29, 2021

How much does an estate have to be worth to go to probate?

Every state has laws that spell out how much an estate would need to be worth to require the full probate process—anywhere from $10,000 to $275,000.Dec 17, 2021

Does an executor have to show accounting to beneficiaries?

To summarize, the executor does not automatically have to disclose accounting to beneficiaries. However, if the beneficiaries request this information from the executor, it is the executor's responsibility to provide it. In most cases, the executor will provide informal accounting to the beneficiaries.

What should you not put in a living trust?

Assets That Can And Cannot Go Into Revocable TrustsReal estate. ... Financial accounts. ... Retirement accounts. ... Medical savings accounts. ... Life insurance. ... Questionable assets.Jan 26, 2020

What are the disadvantages of a trust?

What are the Disadvantages of a Trust?Costs. When a decedent passes with only a will in place, the decedent's estate is subject to probate. ... Record Keeping. It is essential to maintain detailed records of property transferred into and out of a trust. ... No Protection from Creditors.Oct 23, 2020

Does a trust override a will?

A. No. The trust is activated by the will on the death of the first spouse/partner, and not at the time of executing the Will. If you are both alive and in care, the trust would not initiated, hence the local authorities can target the property when assessing liability for care fees.

SUBSTANTIVE QUESTIONS TO ASK A PROBATE ATTORNEY

First, it’s always important to ask questions about the probate proceeding.

Do I need to go through probate?

In New York, if the decedent had no property, no court proceeding is required. This is because there are no assets to distribute.

What property is included in probate?

In New York, all property owned by the decedent in his own name without a designated beneficiary is generally a probate asset. Properties owned jointly by a decedent, owned with a designated beneficiary, or that pass by operation of law are generally non-probate assets.

How long will the probate process take?

It generally depends on the size of the estate, the possible number of heirs, and if there are disputes as to the authenticity of the will or the property in the estate. It could take anywhere between a few months to a year or more. Your attorney will be able to give you an estimate depending on the circumstances of your case.

How are creditors handled?

All estate creditors are entitled to payment prior to the distribution of proceeds to the heirs. In New York, there is a particular hierarchy or order in paying the creditors. Your probate attorney should be able to guide you in this aspect.

What questions would you ask a probate attorney if you were in my shoes?

You don’t have to come up with all of your own questions. You can ask them to think of some questions themselves and answer them for you!

EXPERTISE QUESTIONS TO ASK A PROBATE ATTORNEY

Second, it’s important to determine the expertise of the attorney to see if he has enough experience to handle your case effectively and efficiently.

What is an estate?

An estate is just a fancy name for “all your stuff” -- even if it’s not a vintage Bentley and stocks you can trace back the Dutch East India Company. It’s still worth something to someone.

Why do we need a will?

“The reason you need a Will is because you should be the one who designates who takes care of your stuff, and you should designate who should get your stuff. Because otherwise it may go to people who you don’t want to have the stuff.”.

When is a POA active?

A POA is only active when you’re alive. Once you die your family needs your Will to start settling your estate. Once submitted to Probate, which is when the court makes sure the Will is authentic, things can get complex and you’ll most likely want to hire an estate attorney to make sure everything goes as smoothly as possible.

What is a health care proxy?

A Health Care Proxy (a.k.a. Medical Power Of Attorney or Health Care Agent), which is part of an Advance Directive, is important if you want to avoid living in a semi-permanent state of limbo.

What does POA mean?

If you are in any way unable to function.”. The POA lists out your hand-selected roster of people you trust to make necessary legal and financial decisions in your stead. “You can have a POA that takes effect immediately,” says Chernoff.

Is a power of attorney necessary?

“It’s extremely important that you establish legal and financial Power Of Attorney,” he explains. “So a surviving spouse or someone else can make decisions for you if you are incapable. Not if you’re dead, mind you. If you are in any way unable to function.”

What happens if you don't open a probate estate?

If you fail to open a probate estate, you could be liable for taxes and other claims. Even if you do not think a probate estate is necessary, it is important to discuss your options with an experienced estate attorney.

What to expect after a loved one dies?

The days and weeks following the death of a loved one can seem like a blur. The grieving process is difficult enough, but there will also be a funeral to plan, relatives to notify and financial issues to handle . Meeting with an estate attorney as soon as possible can ease your burden and make a difficult time easier to bear.

Is a power of attorney valid after death?

Unfortunately, the power of attorney you may have had in place is no longer valid following the death, and it is important to understand that distinction. A previous power of attorney does not give you the power to handle the estate after the death of your loved one.

Do debts disappear when someone dies?

There is a great deal of confusion about how debts are handled when an individual dies. Some people think that these debts simply disappear when the debtor dies, but that is not always the case. While some debts are forgiven on death, others follow the deceased and become part of the estate. The good news is that the family members ...

Is word of mouth reliable?

With physical newspapers becoming rarer and rarer, you cannot rely on the obituaries to get the word out, and word of mouth may not be as reliable as you would think. It is important to notify everyone you know when a loved one dies. Not only will they want to attend the memorial service, but they may have an interest in the estate as well.

Do you need a death certificate for a funeral?

The death certificate should become available after the funeral process has been completed, and most funeral homes will help loved ones get the documentation they need. If you do not receive a death certificate from the funeral home, you should ask the funeral director for one as soon as possible. You will need a death certificate ...

Is it hard to handle an estate?

The death of a loved one is always hard, but the difficulty of handling the estate can make an already difficult situation that much worse. Dealing with the complexities of the estate, closing the financial affairs of a deceased loved one and handling the taxes due can really put a strain on your emotions.

What happens after a donor dies?

Soon after a donor’s death, beneficiaries, heirs, or even executors can mismanage the estate. A probate attorney should provide legal assistance to either stop, remove these persons, or get compensation for the wasted finances. 11.

Can a decedent's assets be frozen?

In the blink of an eye, a decedent’s assets can be heisted, pillaged, squandered, or frozen. Probate attorneys help to execute the deceased’s estate plan or intestacy laws so that this doesn’t happen.

How long does it take to get a probate?

The probate process can vary in length of time, but generally, completion can take a few months to a year (or more). The main determining factors on this duration includes the number and type of assets and the state’s legal requirements.

What is the role of a probate attorney?

The role of a probate attorney includes, but is not limited to, settling disputes, the sale of the estate property, and distributing the assets of the deceased among the beneficiaries. So, you’ve made the decision to hire a probate attorney, but have you considered the necessary questions to ask?

What is probate process?

The term probate refers to various steps such as the verification process, the court where the issue is handled, and the distribution of the deceased’s assets.

Is probate a straight forward process?

In most cases, the probate process is fairly straight forward. Especially if you have the help of a professional. But sometimes there can be a few issues that occur. One example is if family members challenge the validity of the will. These unforeseen instances are where a probate attorney can be especially helpful.

Why is it important to have an attorney on staff?

They may also have one on their staff. This is helpful because it means the attorney’s office controls the closing process. There is no need to coordinate with any other office, and this can simplify and speed the closing process. It might also lessen the expenses based on communications.

Why is experience important in real estate?

In real estate law cases, the experience of the attorney or law firm is important. More complicated real estate matters suggest having a more experienced legal presence. You may have to pay more for experience, but the value of your investment in such cases probably warrants the higher expense. The potential financial loss in larger real estate ...

Why are references important?

References are important, too. You want to know if the attorney has done a good job for other clients. You want to be given a list of references who are available for you to contact whether you call them all or not. The attorney should be confident and successful enough to provide you with a list of satisfied clients who want to speak well of them.

Do I need to be certified to be an attorney?

If the attorney is recommended by a referral service, he or she will no doubt be certified. If you find an attorney be some other method, you want to make sure the attorney is licensed in the state in which the property is located, not just the state where you live, invest, or are incorporated.

Is real estate a unique deal?

Every real estate deal is unique with its own set of circumstances and potential problems. Your case is no different. It is wise to find an attorney who is familiar with those types of problems and who knows how to prevent them from happening.

Can an attorney handle unexpected issues?

Unknown and/or unexpected issues can arise at any time during real estate transactions. You should feel that your attorney can handle whatever comes up. You should ask the attorney what kinds of problems might occur during the transaction.

Do I need a real estate attorney?

If you are considering buying or selling real estate, you may want to have a qualified real estate attorney represent you to make sure there are no legal complications that would interfere with the closing process or any transactions involving you and the other party. An investment in real estate is a large commitment, and you want to make sure you have the best protection possible to prevent any serious complications.

How long does it take to contest a will?

Will contests must be filed in Probate court within a certain number of days after receiving notice of the death, or petition to admit the Will to probate, or issuance of Letters Testamentary to a personal representative.

What is an estate checking account?

receive payments due to the estate, including interest, dividends, and other income (e.g., unpaid salary, vacation pay, and other company benefits) set up an estate checking account to hold money that is owed to the decedent -- for example, paychecks or stock dividends;

What is probate in court?

Probate is when the court supervises the processes that transfer legal title of property from the estate of the person who has died (the "decedent") to his or her beneficiaries. Usually, you have to fill out court forms and appear in court to: Prove to the Court that the Will is valid (this is usually routine), ...

What happens if there is no will?

If there is no Will, or if the Will doesn't’t name an executor, or the person named as executor in the Will is unable to be executor or does not want to be executor, the probate court appoints someone called an administrator to handle the process.

Do personal representatives get paid for probate?

Yes. In addition to your out-of-pocket expenses to manage and settle the estate, personal representatives usually earn a statutory fee of 2% - 4%of the probate estate. The percentage decreases as the size of the estate increases. The Court must approve all fees and expenses.

Do you need a lawyer for probate?

But the lawyer represents the interests of the personal representative, not the beneficiaries. You may not need a lawyer if: Your state allow for no-attorney filling of probate. you are the sole beneficiary, the decedent's property consists of common assets (like house, bank accounts, insurance, etc.)

Is probate necessary for a deceased person?

If the person who died did not have any property to transfer, probate is usually not necessary. The deceased person’s survivors may decide to open a probate if there are debts owed or if there is a need to set a deadline for creditors to file claims. When there is property to transfer the probate process also provides for the distribution ...