There is a legal process that typically takes place after a person passes away. This is a process where a person’s estate is valued, debts are satisfied and inheritance is handed out in accordance with a decedent’s will. In order to minimize the difficulty and the confusion experienced by the executor of the estate, the services of a probate attorney in Rockford, Il will be extremely beneficial.
While the state in which the decedent passed away can name a probate attorney to assist the executor of a person’s estate, a person who plans their estate meticulously will typically have a probate attorney that stands at the ready when the person passes away. It’s helpful to have legal advice during this process. This is because handling some of the aspects of probate can be extremely difficult.
The first thing that will be done is the estate will be valued. This is typically done at the behest of the courts, and the executor of the estate will generally handle this task. An attorney can sometimes work hands-on to value the estate. In other situations, they may spearhead the hiring of third party services that can value the estate to satisfy the probate process.
In addition, existing debt to any creditors will have to be settled before the inheritance can be handed out. An attorney can help an executor to look through the estate to determine the debts that are easily spotted. They could also uncover other debts that could potentially lead to legal issues if they aren’t satisfied before the inheritance is disseminated.
The final duty of an executor and a probate attorney in Rockford, Il is to dole out the inheritance pursuant to the decedent’s will. Depending on the amount of assets, this could be a very short process or it could be rather extensive.
Whatever the case may be, if you want to plan your estate perfectly, having a probate attorney at the ready will be important for your beneficiaries, as well as your executor. Visit Crosby Law Firm for more information.