Losing a loved one can be traumatizing because, other than handling the grief, the family members may need to navigate the legal processes linked with the probate court. The court proceedings are usually designed to oversee the management of the estate plan or will left by the deceased.
If a will was not written, the probate court oversees the management of the estate. This procedure can be time-consuming and confusing, especially when beneficiaries do not know what to expect. This post will explain the probate and trust administration to help heirs adjust their expectations.
Understand Probate and Trust Administration
This process entails administering the trust or probate estate of the deceased. Probate documents need to be filed with the probate court, and all the assets in the deceased person’s estate must be listed. However, heirs must understand that handling a decedent’s estate may also entail paying off any taxes or debts, and sharing the remaining assets with the beneficiaries.
The probate procedure starts when the deceased individual leaves behind assets that need court supervision. An executor is appointed by the court to take charge of the entire process.
The role of the executor is to notify creditors, collect income that is owed to the deceased, identify and locate assets, and account for disbursements made using estate funds. They should also pay bills and taxes, and report all these details to beneficiaries. The executor ensures that beneficiaries know their rights regarding the decedent’s probate estate, and also distributes the assets to heirs or other beneficiaries as per the law.
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Duration Needed to Complete the Probate and Trust Proceedings
Generally, it takes about eight months to two years or more to handle the administration of a probate or trust case, depending on the complexity of the case. This duration is also determined by the time it takes to resolve creditors’ claims against the trust or estate account. Assets can only be distributed among the beneficiaries once the cases are resolved.
The best way to avoid delays associated with the estate or trust administration is for those considering probating an estate to seek legal counsel from a seasoned attorney who specializes in probates and trust administration. Other than guiding the heirs, the lawyer ensures compliance during this challenging process.
Reasons to Seek Legal Assistance
When an attorney is hired to handle the probate and trust administration, they will ensure the legal documents linked with the probate proceedings are filed in court on time. These attorneys also represent the executor during the probate proceedings and ensure beneficiaries understand their rights to participate in the proceedings.
A lawyer can administer any trusts that were set up before death, interpret the trust terms and laws that concern the probate administration process, and manage and distribute properties as required by law. They also ensure beneficiaries know the rules that apply in asset distribution to avoid mistakes or disappointments.
In case a dispute arises between the heirs or other parties involved regarding the decisions made by the executor or trustee, the attorney can provide legal assistance. In most cases, they aim to avoid litigation proceedings in case the matter cannot be fixed amicably outside court.
Handling the probate and trust administration procedure may not be easy. However, heirs can avoid complications and ensure they get a share of the decedent’s estate with the help of an executor and a seasoned attorney. So, anyone facing this situation should seek legal assistance immediately to expedite the process.
