LONG ISLAND PROBATE ATTORNEY
Probate is a process by which assets and estates are settled and distributed among beneficiaries. It is a process in which a will is proved in a law court to see if they are valid and true enough to be approved and implemented.
The probating process is often not a very smooth process. When the Court admits the Will into probate, it notifies every interested party that may be affected in any way by the dictates of the will. This notification gives these parties the legal opportunity to object to the dictates of the will, and this act is known as a “Will contest”. A contest may be initiated by any displeased or dissatisfied party who feels that the decedent may have been forcefully influenced by another party into signing the will.
Reasons why probate take long
One major reason for a long probate process is that you planned your will with the guide of legal authority such as a Long Island probate attorney. One wrong inclusion may jeopardize the whole will and throw it into a probate battle.
Other reasons are:
- Estate with more than one beneficiaries. Estates having more than one beneficiary always take longer to settle through probate. This is because, it takes longer time to call all beneficiary and notify them about the dictates of the will. Also, delays maybe experienced in signing legal documents.
- Estates in various state. Preparing your will with estate located in various state requires the guide of a probate lawyer. Multiple estates in a various states would require longer validation and probate process.
- Inappropriate estate evaluation. With wrong evaluation of an estate, a longer probate process would be permitted by the court. Assets that are difficult to value cause long and worrisome probate process. Also, assets that are highly illiquid can cause the estate to remain open.
- When beneficiaries named in a will don’t get along. Family feud makes probate cases rigorous.
Many other reasons are when the wills is much or written with wrong document inclusions and wrong executor.
Long Island Probate Attorney would also do the following for you:
- Writing of wills according to the Long Island state laws. State laws rules over what can be included in estate plan documents such as will. They regulate the documenting process of will as well as the formalities through which a will can be implemented. It is thus advised that you plan consult with a Long Island probate attorney.
- Placing a value on the estate; while planning your estate, it is expected that you evaluate your assets and properties. With the help of a Long Island probate attorney, you can start planning your estate.
- Payment of estate debts, bills and expenses. This is important as each and every asset must be accounted for, and the monetary worth of the estate established. Out of these assets, bills, taxes and debts will have to be paid before the remnant is distributed to every beneficiary. If the value of the estate doesn’t suffice to be shared according to the will, then the beneficiaries wouldn’t get what the decedent intended them to have
- Preparation of other estate planning documents like living trust, power of attorney and advance medical directives. With living trust, you can decide who takes over plans of your estate, make financial decisions over your assets both while you are alive or dead as well as when you become mentally incapacitated.
No matter the financial situation you are in today, contact a Long island probate attorney to help you solve one of your most important task in life, which is planning for the future, and that of your family through will preparation.
The Long Island Probate Attorney will help you guide against actions that would put you or your family in precarious positions. Contact today.