If a loved one has recently passed away, you may be wondering, “What does a probate lawyer do and do I need one?” In simple terms, a probate attorney assists the executor of an estate and beneficiaries in getting through the probate process to settle asset distribution and other proceedings.
Probate is a legal term for determining how the distribution of a deceased person’s estate will go. Probate can be long and complicated, depending on various factors. Regardless of the situation, working with a qualified probate lawyer can help ensure the process goes smoothly.
Why Do I Need a Probate Lawyer?
Probate can be a complex process and it’s wise to have a skilled legal professional at your side to help navigate it. Some of the many responsibilities a probate lawyer handles include:
- Identifying and compiling a list of the estate’s assets
- Gathering life insurance proceeds
- Organizing property appraisals
- Settling outstanding debts and estate taxes
- Handling other financial aspects of the estate
- Drafting and submitting necessary probate court paperwork
- Distributing assets to the proper beneficiaries
Even if you’re confident in handling the executor duties, you may need a probate attorney if other things factor in. Some examples include:
- There Is a Hefty Amount of Money and Assets
If there is a large amount of money and assets in an estate, it’s highly advised to work with a lawyer skilled in probate law. This helps prevent mistakes from happening and can limit any discontent between beneficiaries.
- Complicated Assets
If an estate includes something like a business or any asset that involves ongoing management, probate can become complicated. It’s wise to work with a legal professional if you need to appraise, oversee, or sell such an asset.
- Lack of Funds for Outstanding Debts
If there’s not enough money in the estate to pay outstanding debts and taxes, then an attorney is also highly advised.
- A Will Is Contested
Sometimes, wills may be contested by family members if they’re unhappy with the outcome or don’t think the will is valid. When this happens, a lot of new legal issues can arise, as well as family disagreements. Contestation can also significantly deplete the estate’s funds. An attorney can act as a neutral party to help settle legal disputes.
When deciding whether or not to hire a probate attorney, some good questions to ask are:
- Did the deceased have a trust?
- How complicated was the deceased’s estate plan?
- Are there difficult relationships among beneficiaries?
- Is the size of the estate something that seems manageable?
- Do you have any previous legal experience or experience handling probate?
Does Probate Require a Lawyer?
In Illinois, you need a lawyer for probate proceedings unless the estate is worth less than $100,000 and does not include real estate. However, while this means probate doesn’t always require an attorney, having one can be highly beneficial. This is especially true for complex or large estates, or situations where disputes are likely to arise.
Some risks of not working with a lawyer include:
- Personal Liability: Executors can be held personally liable for mistakes made during probate.
- Missed Deadlines: Failing to meet court-imposed deadlines can result in penalties or removal as executor.
- Improper Asset Distribution: Mistakes in distributing assets to beneficiaries of an estate can result in legal challenges.
- Overlooked Creditors: Failing to properly notify or pay creditors can result in personal liability for the executor.
- Tax Errors: Mistakes in handling estate taxes can lead to penalties and additional costs.
Contact Crosby Law Firm
Dealing with legal proceedings following the death of a loved one can be overwhelming, especially at such a vulnerable time. Don’t skip out on professional, legal guidance from our team of skilled attorneys. With over 150 years of combined legal experience, you can depend on us to smoothly handle the probate process.
If you’re searching for a reliable probate attorney in Rockford, IL, we invite you to contact Crosby Law Firm. Schedule a free initial consultation and allow us to help make this legal process easier on you and your family.
