Losing a loved one is never easy. After someone passes, survivors are left in a sort of limbo, trying to work through the grieving process, while realizing that although death is final, it leaves behind a lot of work. Even if a will is in place, there is still much to do. This is where probate attorneys come in. Although it’s possible to manage an estate and honor decedent’s wishes without a Denver probate attorney, there are numerous situations when it’s best to get some outside help. Here is a look at six of the most common scenarios.
1. Someone Might Contest the Will
If there is any chance that someone is going to contest the will or try to disprove its validity, it’s important to involve a legal professional from the start. Once battles begin, they can quickly drain the estate’s assets. Probate attorneys can help settle disputes and handle negotiations so they’re resolved more rapidly.
2. Managing Debts Can Be Overwhelming
There are actually laws that state how to notify any creditors, as well as which ones must be paid and in what order. If the estate’s assets aren’t large enough to cover its debts or there are numerous creditors, it can be a huge relief to hire a Denver probate attorney.
3. Large Estates Can Be Problematic
There are even more steps involved when an estate is large. Moreover, they tend to attract issues. For example, James Brown’s estate took several years to close, even though he had a very clear will.
4. Unusual Assets or Business Assets are Complex
Business assets can be difficult to handle properly, especially if other parties have an interest in the company. Equally, priceless items, or rights to non-physical things like intellectual property should be handled by probate attorneys who specialize in unique cases.
5. Inexperienced or Overwhelmed Executors Can Drown in Paperwork and Duties
Generally, the person who has passed names an executor before his passing, though sometimes the duties are unexpectedly thrust on a family member. In either case, there are a lot of things to file, numerous entities to notify, and deadlines to meet. It can be tough to keep up with it all. Probate attorneys go through this process on a daily basis, so it’s second-nature. The following things are just the tip of the iceberg when it comes to an executor’s duties:
- Obtain a copy of the will and file it with the local probate court
- Notify financial institutions and government agencies of the death
- Create of a bank account to manage funds
- File an inventory
- Obtain a bond to cover any mistakes that are made
- Pay debts and taxes
- Distribute assets
- Represent the estate in court
6. You’re Contesting a Will or Have Questions About the Terms of a Loved One’s Will
Most of the things highlighted here are aimed at an executor, or a head of household who is managing an estate after someone’s passing. However, sometimes someone outside this circle has an interest in the estate—perhaps a child, former spouse, step-child, or business partner. In situations where someone has a genuine interest and a reasonable argument to have the will challenged, a Denver probate attorney is necessary. In many cases, these issues are resolved with legal expert helping to negotiate terms outside the courtroom, and all parties are satisfied with the resolution.
If you have lost a loved one and have questions for a Denver probate attorney, please contact us using our online form or call our office to schedule a consultation at 303-798-2525.
