What is a Probate Lawyer?
The main purpose of a probate lawyer is to assist you with the estate and assets left after a loved one's passing. Assets include bank accounts, houses and other types of real estate, and investments. Probate is the process that occurs when a person passes on and assets are left to be distributed, with or without a will. In case no will has been prepared and notarized, an executor is named to handle the probate process and distribute the assets. A probate lawyer provides the support and guidance people need during this process, including helping pay off any debts remaining.
Difference Between Probate & Estate Planning Lawyers
A probate lawyer handles and assists with the administration process of assets, which typically involve estates and other property and financial investments. Meanwhile, an estate planning attorney assists with the drafting of wills, living trusts, as well as powers of attorney and inheritance taxes. However, it is possible for your probate lawyer to also act as your estate planning attorney, and vice versa.
What Does a Probate Lawyer Do?
- Takes Inventory of Estate: A probate lawyer will first take the time to assess what assets are available to distribute. These can include any bank accounts, including checking and savings accounts, personal possessions, any vehicles and real estate properties, and so on.
- Identifies Insurance Policies: Any life insurance policies are then accounted for and collected, if applicable, and distributed either according to the will, or through the discretion of the executor. If the executor is unable to be present for this part of the process, then typically the probate lawyer takes position to handle the distribution.
- Secures Assets: The probate lawyer also secures appraisals for any assets left to be distributed, as well as manages the estate's checkbook for any remaining debts. Probate lawyers also handle securing tax accounts for the deceased's final income tax and returns.
- Prepares Documents for Court: In the case that a court hearing is needed or decided upon, the probate lawyer will also handle the preparation of any documents necessary for the court proceedings.
Are You In Need of a Probate Lawyer?
If you are looking for a probate lawyer in Windham, ME, then turn to Gregory W Files! Our family law office and probate lawyer is available for consultation. Contact our attorney at law today to learn more about probate, ask questions about the probate process, or to schedule a consultation!
