Probate & Estate Administration
Protecting Your Family & LegacyWhat Are the Responsibilities of an Executor?
The responsibilities of a personal representative/executor are tedious, but also perilous. There are dangers to the personal representative/executor if they are not careful and responsible for handling the assets of the deceased. A personal representative/executor can be held personally liable for losses of the estate if they do not take their fiduciary responsibilities seriously.
Some of the responsibilities of the personal representative/executor include:
- Providing notice to the decedent’s creditors
- Filing an initial account of the estate’s financial activity
- Obtaining a Federal Tax ID Number for the estate
- Identifying and collecting assets of the estate
- Preparing and filing tax returns on behalf of the decedent
- Distributing assets and closing the estate
We are committed to our clients’ needs, and we consider them to be part of our family. In that spirit, we strive to be fair, honest, courteous, and professional in all of our endeavors. Call or visit our firm today to discuss your situation with a friendly and compassionate legal professional at our firm.
Do All Assets Go Through Probate?
Certain assets are exempt from probate, such as property under joint ownership, insurance policies or retirement accounts with a beneficiary, and property that has been placed in a trust. If you are unsure of what property is required to pass through probate, contact an attorney for help.
Benefits of Consulting a Probate Attorney
While you are not required to hire a lawyer for probate matters, seeking the advice of an attorney is encouraged. Probate laws and processes can be complex and overwhelming, especially for those who are unfamiliar with it. A probate attorney can help you navigate the complexities of probate proceedings and help ensure that every detail of a will is executed smoothly and within legal guidelines.
An attorney can also help you avoid potential pitfalls and minimize tensions between family members. If you need assistance with a probate case, contact our lawyers at Estate Law Partners, LLC for personalized guidance.
Related Reading:
- What Happens to My Spouse's Debts at Their Death?
- Estate Planning: Remaining Even and Fair in Distribution
To schedule your free case consultation with a lawyer at our firm, please call (608) 292-5185 today.
How Long Does Probate Normally Take?
The probate process will vary depending on a number of factors: the size of your estate, the types of assets involved, tax issues, creditor claims, and if there are businesses involved. The probate process can take as little as 6 months, or on average 18 months. If the estate is more complex or if there are delays, the process can last for several years.
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What Are the Responsibilities of a Personal Representative/Executor?
The responsibilities of a personal representative/executor are tedious, but also perilous. There are dangers to the personal representative/executor if they are not careful and responsible for handling the assets of the deceased. A personal representative/executor can be held personally liable for losses of the estate if they do not take their fiduciary responsibilities seriously.
Some of the responsibilities of the personal representative/executor include:
- Providing notice to the decedent’s creditors
- Filing an initial account of the estate’s financial activity
- Obtaining a Federal Tax ID Number for the estate
- Identifying and collecting assets of the estate
- Preparing and filing tax returns on behalf of the decedent
- Distributing assets and closing the estate
We are committed to our clients’ needs, and we consider them to be part of our family. In that spirit, we strive to be fair, honest, courteous, and professional in all of our endeavors. Call or visit our firm today to discuss your situation with a friendly and compassionate legal professional at our firm.
Do All Assets Go Through Probate?
Certain assets are exempt from probate, such as property under joint ownership, insurance policies or retirement accounts with a beneficiary, and property that has been placed in a trust. If you are unsure of what property is required to pass through probate, contact an attorney for help.
Why Hire a Probate Lawyer?
While you are not required to hire a lawyer for probate matters, seeking the advice of an attorney is encouraged. Probate laws and processes can be complex and overwhelming, especially for those who are unfamiliar with it. A probate attorney can help you navigate the complexities of probate proceedings and help ensure that every detail of a will is executed smoothly and within legal guidelines.
An attorney can also help you avoid potential pitfalls and minimize tensions between family members. If you need assistance with a probate case, contact our lawyers at Estate Law Partners, LLC for personalized guidance.
Related Reading:
- What Happens to My Spouse's Debts at Their Death?
- Estate Planning: Remaining Even and Fair in Distribution
To schedule your free case consultation with a lawyer at our firm, please call (608) 292-5185 today.
