Does An Executor Need To Hire A Probate Lawyer?

If you were named executor of your loved one's estate, you might wonder if you need to hire a probate lawyer to help you execute the will and distribute the assets in the manner your loved one wanted. This isn't always the case that probate lawyers are needed, especially if the estate is small and there are no problems. You may need to hire a probate lawyer if you aren't sure of the process or if certain issues arise. Here are some reasons why an executor might need to hire a probate lawyer.

Someone Is Contesting The Will

For the most part, it's rare that any will is contested since most are created with the help of lawyers and are very clear. If this isn't the case, however, or if the beneficiaries think the will is unfair to them, they could contest it. This means they are filing a lawsuit to have the will examined in court and potentially changed to re-distribute the estate in a different manner than what has been stated.

Probate lawyers can help an executor in this process by helping you defend the original will and keep it from being changed by the courts. A probate lawyer can go through the will to see if there were any instances of unfairness to beneficiaries or even if the will was created under fraudulent means such as if the loved one made the will under duress.

The Estate Is Complicated To Distribute

The majority of estates are simple to distribute because they primarily only include a house, bank accounts, life insurance, or other commonly held assets that can be distributed among the beneficiaries easily.

However, if your loved one had a larger estate, multiple bank accounts, commercial holdings, and even businesses, the distribution can be more complicated. Even if the will is clearly spelled out, it can take some time and effort to make sure all assets are transferred correctly. Probate lawyers can help you in this regard. It's best to find a probate lawyer with extensive knowledge and experience in dealing with complicated estates as there is more to it than simply dividing up the assets. It can also mean appraising and selling businesses and more.

There Are Debts That Need To Be Paid

In some cases, there will be debts that need to be paid from the estate's assets. It is essential to know which debts need to be paid first and which could potentially be cleared by the courts. Probate lawyers can help you break down all the debts that require payment and if there is enough money in the estate to pay them. If there isn't enough money in the estate to pay off all applicable debts, a probate lawyer knows which debts take precedence over others.

Reach out to a probate lawyer for more information.