Why do I Need to Hire a New York Probate Lawyer?
When you act as the executor for a loved one’s estate, you can feel overwhelmed. It is a daunting task for most people both logistically and emotionally. To begin with, the distribution of a loved one’s estate entails going through every single item. Why not hire a New York Probate Lawyer?
It’s a time-consuming and meticulous task to account for each item, especially if it was a large estate.
As executor of an estate, you are in an awkward position with your other family members. Even though you are only acting on behalf of your deceased loved one, your family may view you as the “bad guy.” The beneficiaries and even some who are not, may not like what they received or did not receive. For this reason alone, it is a good idea to hire a New York probate lawyer. They can assist with the probate process and in some instances, take it over completely.
Benefits of Hiring a New York Probate Lawyer
Hiring an experienced probate lawyer in New York means you get the help of a legal professional who has executed many estates. They are equipped to help you in any way you need while executing your loved one’s estate. When someone hires a NY probate attorney, it is usually for one of these reasons:
Family Members Discord:
Perhaps the most common reason someone chooses to hire a probate attorney in NY is one or more of their family members are upset by their inheritance. A person who feels like they didn’t get their fair share of an estate may choose to contest the will. They may also believe someone tampered with the will in some way or make accusations accordingly. If a relative contests the will, it can become a prolonged and expensive courtroom battle. You need legal counsel in this case.
The Estate Lacks Money to Pay Off Debts.
Probate lawyers in New York are often hired to help with the paying of debts. When there is plenty of money left in the estate to pay off all the debts you may not need an attorney. However, if the estate lacks the money to pay off outstanding debts, a lawyer is helpful. They can help you make a number of crucial decisions. For instance, which debts should you pay first? What money or assets should be used to pay which debts? If you are the executor of a large estate that has amassed significant debts, it’s advisable to consult a probate lawyer to discuss your options.
A Business in Part of the Estate.
Having a business as part of an estate makes the distribution more complicated. The business needs a separate evaluation so it can then be sold or transferred. In most cases, executors do not know how to value a business. Unless you are certain you know how to assess the business, you should consult with a probate attorney. If you value the business on your own, it can lead to an over- or under-evaluation. This action can significantly change the execution of the estate.
Prevent Rejection.
A few documents will need to be filed with the court before probate starts. These documents must be filled out carefully or the court will not accept them. Your first probate will probably be rejected by the court is they are not accurately filled out. This equates to a lot more work for you. It also takes longer for probate to finish. A probate attorney knows how to fill the papers out property to keep the probate process moving forward. This is a lot less tedious paperwork for you and less chance of errors.
Why Consult with a New York Probate Lawyer?
Experienced probate attorneys understand that people want to save money by executing the estate of a deceased loved one themselves. However, the task is often more complicated and time-consuming than a person expected. Without the help of an experienced NY probate lawyer, you can become overwhelmed with the tasks. Making a simple mistake can cost you thousands of dollars in court costs and lawyer fees to correct. If your loved one’s estate is large and you are not sure in taking over the task, hire a New York probate lawyer to help with the execution.
Talk to one of our NY probate lawyers today about handling your loved one’s estate. It’s worth the associated costs to ensure their estate is handled properly and it’s all done right the first time. We will make sure nothing is left undone! Contact our law firm to get started today.
