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Pinnacle Legacy Law FAQ
Have a law-related question? We have the answer. Check out these FAQs and give us a call today for more information!
What is estate planning?
Estate planning is a lifelong process by which a person makes legal arrangements to most efficiently and effectively manage and transfer property both during life and after death according to their goals. Estate planning also involves the minimization of taxes, providing for personal care and property management during periods of incapacity, and providing for the custodial care of any minor or adult dependent children.
What are the benefits of estate planning?
The biggest benefit to estate planning is that you are able to decide what happens to your assets. There is no guessing or arguing left for your loved ones. Also with a proper plan, your estate can save thousands in court-related expenses. According to LegalZoom, about 77% of American adults believe that estate planning is important for everyone, regardless of their wealth. Call us today to start with your estate planning.
What happens if I die without an estate plan?
The State will step in and your assets will be divided amongst your “heirs at law.” This is why estate planning with an experienced probate attorney is so important.
What is probate?
Probate is the legal process that oversees the assets and expenses of a deceased person. During probate, creditors can file claims to collect on the debts of the deceased. Then the remaining assets are distributed among the named beneficiaries. A probate attorney can help you through this process.
What is covered under probate law?
Probate law not only deals with the distribution of assets after death but also with issues of guardianship/power of attorney for a disabled person or minor who is still living. Contact our probate attorney today to learn more.
What is a will contest?
A will contest is the legal action taken to challenge the legitimacy of a will or its terms. This court action is typically taken by parties who believe the will is invalid, was made under malicious or undue influence, duress, or coercion, or even forged. Call our probate attorney to learn more.
What is an executor?
This is the person named in the will who is designated to carry out the wishes of the deceased. An executor’s duties include locating all legal documents (wills, deeds, trusts, etc.), notifying Social Security, pensions, annuities, and other such parties of the deceased’s passing, and more. Call our probate attorney today to learn more about executors.
Can probate be avoided?
Yes, you can avoid probate with expert estate planning. If the deceased passed away leaving a will that pours over into a living trust, there is the likelihood that the trust will handle the administration of the estate rather than the court.
How long does the probate process take?
Typically, the probate process takes nine to 12 months. However, this can be extended if the estate encounters unforeseen difficulties. Work with a probate attorney from our firm if you have any questions about the process.
What does it cost to probate an estate?
There is no fixed cost to probate an estate. The total amount depends upon the complexity of the estate and what has to be accomplished to settle the estate. Contact us today to learn more about estate planning and probate.