Top Probate Lawyers For Your Probate Proceedings in Portland
Estate Planning and Guardianship
Probate is a procedure for dispersing the assets when someone dies and is supervised by a court. If you have been designated the personal representative of a loved one’s estate, you are presumably well aware that you have been entrusted with several difficult responsibilities. The first thing you should do is get probate attorneys from the best law firm.
An experienced estate planning lawyer in Portland will help you with probate, study legal documents, and assist you in making important decisions regarding the deceased person’s property. You may be surprised at how much legal work goes into probate. It can take anywhere from a few months to two years from the time of death for your estate planning attorney to complete all of the necessary paperwork.
Probate is used when a person dies without a will or has an incomplete will but it is important to hire the legal services of a law attorney. Most states also have a “simple will” statute, which allows people to execute a will that specifies what happens to the property after death. A probate attorney can help you prepare and file all the necessary papers, advise you about estate taxes and probate costs, assist in settling claims against the decedent’s estate, and help you resolve problems with the personal representative.
What exactly are probate and probate laws, and how do they work?
Probate is the word used to describe the legal procedure through which a will is examined to determine if it is legitimate and genuine. Probate is also used to refer to the overall process of executing a dead person’s will or the estate of a deceased person who died without leaving a testament.
Following the death of an asset owner, the court selects either an executor specified in the will or an administrator (if there is no will) to oversee the probate procedure. Collection of assets from a dead individual to satisfy any obligations left on the deceased person’s estate and to transfer the assets of the estate to beneficiaries is what this process is all about.
Probate is the process of examining and transferring ownership of estate assets that were previously possessed by a deceased individual. When a property owner passes away, his or her assets are often examined by a probate court. The probate court renders the ultimate decision on the division and distribution of assets to beneficiaries once the assets have been divided. When a probate case is initiated, the first step is usually to determine whether or not the dead individual left a legally binding will.
There are numerous instances in which the dead person has created paperwork, which gives instructions on how their assets should be dispersed upon their death. In rare instances, though, the dead do not leave a will at all.
What is an “Estate”?
In the context of probate, the word estate refers to everything that belongs to the person in question. This includes real estate, cash, personal property, and other types of assets.
For example, the estate may include the following items:
- Real estate
- Accounts in a financial institution
- Stocks and bonds.
- Amounts received as a result of insurance policies
- Investments in terms of money
- Planned retirement income
- Interests in business
- Furniture, artwork, jewelry, and other personal things/heirlooms
Is it necessary for me to apply for probate?
In certain instances, administering an estate may not be necessary. When a person dies with a tiny estate, the court may not be required to intervene in the distribution of estate property to the heir or the beneficiary, if the individual’s probate estate is small enough. If a person passes away with all of his or her goods in co-ownership with a spouse, child, or another individual, that inheritance will be distributed straight to the co-owner and no legal process will be required to transfer the assets to that individual.
Wills or trusts are necessary to deal with issues such as:
- Clearing land titles
- Clearing bank account
- Buying and selling stocks and bonds
- Collecting debts owed to a dead person’s estate
- Conciliating and resolving differences and arguments amongst beneficiaries.
Seek legal help to avoid any problems that may arise when you file for probate.
Taking you step by step through the probate process
A personal representative has consented to take on a wide range of responsibilities. Personal representatives who fail to carry out any of these responsibilities may be held personally accountable for any financial damage that results. It is essential to deal with a trust attorney and a probate judge only for this reason. These stages are as follows:
- Notifying creditors of the situation
- Identifying and compiling a list of all estate assets
- Taking care of any legitimate estate obligations
- Taking care of all estate tax obligations
- Providing a detailed accounting of the estate
- Administering distributing/transferring of assets to heirs and beneficiaries
We may finish what is known as the small estate procedure for estates with a limited number of assets, currently $75,000 or less in personal property and $200,000 or less in real estate.
Our law office puts a great value on keeping our clients up to date on the progress of their legal matters in a court hearing. Also, we recognize that many individuals are understandably anxious about inheriting a substantial sum of money. As a result, our estate law attorneys will do all they can to finish the procedure as quickly as possible, whatever the circumstance. Every action done is motivated by the desire to assist you.
For probate and estate planning, you need an attorney from our law offices by your side.
Probate rules and estates law are extremely complicated. If you have a probate case, you need a probate lawyer who has experience with probate to take care of the legal matter. Our probate lawyers have gone to court and have been helping families through the probate process for several years. You and your loved ones can trust our experience. You can count on us to provide the legal representation you need.
You can rely on our team of competent attorneys to actively and successfully advocate for your interests. As a family law company, we are well-versed in the subtleties of these delicate situations. Don’t worry about attorney fees, we offer a free consultation with one of our probate lawyers in Portland. Call us at (503) 694-4445. We are here for you; call us 24 hours a day, 7 days a week. All calls will be strictly confidential.