When is probate lawyer needed?
Probate is a legal process of administering and settling an estate following the death of a person. Simply put, it is court supervised proceeding to gather a deceased person’s assets and distribute them to the creditors and beneficiaries.
Though, no state requires you to hire a lawyer to probate an estate, but it can be quite a complicated process, so hiring a probate lawyer is the right thing to do.
A probate lawyer or a Los Angeles estate planning lawyer is a type of state licensed attorney who is responsible for helping a personal representative through the entire process of probate.
What does a probate lawyer do?
Roles and responsibilities of a probate lawyer involve:
- Proving in court that a deceased person's will is valid
- Identifying probate and non-probate assets
- Having the property appraised
- Paying debts and taxes
- Settling disputes between personal representatives and beneficiaries
- Distributing the remaining property
How do probate lawyers get paid?
Probate lawyers are generally paid their fees out of estate. As an executor, you don’t pay need to pay for the fees from your own pocket. You can use estate assets to pay the fees and costs, before inheritors get anything.
What do probate lawyers charge?
Lawyers usually charge in three different ways:
- By the Hour
- Flat Fee
- Percentage of Value of Estate
Some states allow to pay a percentage of the value of the estate as the fee, which is way higher depending upon the assets.
Probate Administration is rather a tedious task involving a lot of time and resources. It is better to contact an estate planning law firm and have your will or a living trust ready. But sometimes probate becomes unavoidable, so it judicious to choose a good probate lawyer.
Searching for a probate lawyer in California?