5 Mistakes Commonly Made During the Probate Process
Failure to Keep Good and Clear Records
If you are an executor, it’s essential to keep a record of literally everything. For many probate cases, this is one of the biggest obstacles. An executor has to keep records of the appraisals conducted on the estate, every single expense, and of course, tax payments made by the estate. When good records are missing, it can make the entire process take a lot longer. Keeping extremely good records can help the probate process go smoother whether or not you have hired a probate lawyer in Queens to help you work through the process.
Failure to identify and Secure Assets Fast Enough
One of the main responsibilities of an executor is to identify assets and secure them. If this is not done quickly enough, the estate can suffer financial losses. If you are the executor in this case, you may be held responsible. It can end up costing you a lot of money. If you are not sure what items or properties are considered assets for an estate, ask a Queens probate lawyer. They can clarify assets and help distribute them when the time comes.
Failure to Maintain the Estate’s Property
There are times when an executor is completely unprepared for their role. They forget, or just plain don’t know how huge a task it is to take care of the house or land belonging to the estate. They mean well and they have good intentions when it comes to maintaining the properties. But remember that it’s a huge undertaking just to go through probate and taking care of the property falls by the wayside. This can be a huge mistake on the part of the executor. Any property that is not maintained properly can begin to lose value. To keep from making this mistake, a Queens probate lawyer can help an executor understand the duties that become their responsibility when taking care of property, even though they are just maintaining it until the beneficiary can take it over.
Failure to Communicate with the Beneficiaries of the Estate
Most of the time, the probate process remains a mystery to beneficiaries. There can be a lot of anxiety surrounding what assets they will end up with. The executor must keep an open channel of communication with the beneficiaries as they work through the process. Honest communication can prevent a lot of misunderstandings. The executor should keep all of the beneficiaries up on the current standing of the probate proceedings.
Failure to Get Help from a Queens Probate LawyerThere are not many legal proceedings as complicated and complex to navigate as probate. It can be very confusing and use up huge amounts of time trying to work through all the details. The best think an executor can do is to solicit the aid of a probate attorney in Queens. They have the knowledge of how the legal and court systems work and can help work through the process without getting frustrated. If nothing else, they can help alleviate some of the pressure on you as the executor. You’ll be able to think more clearly without as much pressure. An experienced Queens probate lawyer can provide legal counsel when needed and ensure all the proper documents are filed properly and in the correct time frame. If there are any complications that come up during the process, they’ll have the experience and expertise to know how to handle it.
Do You Need Probate Attorney in Queens?
You may be surprised how many laws are in the books that control the entire probating process. People have put a lot of thought, consideration, and planning into how they wanted their estate to be handled. It really is important that it gets taken care of in the way they desired. You do not have to tackle this huge problem alone, even if you are named executor. Contact a Queens probate lawyer to help you navigate through the complicated process. They can provide the assistance and guidance you need to make sure your loved one’s wishes are fulfilled.