After a loved one passes away, it can be a very emotional time. Individuals may be faced with a lot of emotional distress. Dealing with estate administration can be difficult to handle during these times. The stress of planning legal and financial issues may be something you cannot bear due to the added emotional stress. However, the process can be made to be more efficient with the help of an attorney. It can also be helpful when your deceased loved one has planned for their estate administration with a will. A will is a legal document that ensures a person’s wishes regarding their estate after they die. Through the probate process, it can prove the legality of the will and can allow the court to distribute the assets described.
Probate may not begin until 11 days after the death of the individual. The original will and death certificate may be filed at this time usually by the executor of the will.It should be filed with the Surrogate Court in the county where the deceased lived at the time of death. The filing of the papers may be done by the executor of the will, any heirs, spouses, creditors or anyone else with a property right or claim against the estate.
The executor is the representative of the estate of the deceased. They have the legal responsibility to take care of the deceased person’s remaining financial obligations. They may be named in the will specifically or appointed by the court. Some of their responsibilities include providing accounting to the court, paying outstanding debts and taxes and collecting, protecting and distributing assets according to the will’s specification. If you have been assigned as an executor, it is a serious task to take on. You may want to seek our legal counsel to ensure the tasks are done thoroughly. As the executor, you may have to meet with a slew of professionals, such as accountants or other attorneys.
Some trusts do not have to pass through the probate process. Due to this, they can pass to their beneficiaries quicker. The probate process can take longer sometimes. That is why individuals may see that a trust is more beneficial. By avoiding probate, beneficiaries can reap the benefits quicker. There are different types of trusts. With different types of trusts, there can be different benefits that each one has. Some trust even have tax benefits that can prove to help individuals.
Matters related to bankruptcy and estate planning are very significant in one’s life and require the services of an experienced attorney. Our firm proudly serves clients throughout Rockland County and New York State. If you need effective legal guidance, contact Koplen Law today to schedule a consultation.