A lawyer is not always necessary to settle an estate. However, they can be very helpful. When your loved one dies and leaves you to settle the estate, it can be difficult to do what you need to and worry about the estate. For this reason, you need a lawyer to get an outside party involved, navigate the complex process, and have peace of mind.
Get an Outside Party Involved
A lawyer can be helpful if there are contentious relationships between beneficiaries of the estate. Contentions can arise in the settlement of an estate for many reasons, such as a contested will. These are not very common; however, they can wreak havoc on family relationships.
No to mention, it will draw out the process and drain the estate of assets.Getting a lawyer involved can help settle any disputes because they are an outside party.
Navigate the Complex Process
Settling an estate involves complex legal procedures like probate court, which happens with or without a will, however. After you determine if there is a will, the estate will be opened with the probate court. You will need to notify family members and post public notices for any creditors. Next, an inventory and appraisal will be created.
The expenses of the estate will need to be paid, and then the property can be transferred to beneficiaries. Because there are many steps, a lawyer can help and ensure that no mistakes are made in the process.
Peace of Mind
A lawyer can give you peace of mind in settling your estate because they know the process and can follow procedures accurately. This can be especially important if the value of the estate is large or if there are unique assets. If you have an estate over $5,000,000, this will be especially important because it becomes easier to make mistakes. Having a lawyer to work with can help you reduce the risk of making mistakes that could result in future litigation. Because a lawyer is more experienced, they can also help you settle the estate more quickly.
While a lawyer is not always necessary, they can be a helpful person in settling an estate. They have the expertise to get it done quickly and accurately. They will help you maximize what each beneficiary gets from the estate. This will leave you with less stress and the time to focus on other matters.
Did you enjoy reading this article? Here’s more to read: HOW AN ESTATE LAWYER CAN MAKE YOUR LIFE EASIER
