Death is the inevitable fate of all living things. Still, this awareness doesn’t prepare us to say goodbye to someone for the last time. The death of a loved one is one of the greatest sorrows a person has to bear in his or her life. And things can become even more overwhelming if you’re named as the executor of the deceased person’s estate, especially if you don’t want this role. The majority of heirs don’t know the first steps to take when they receive control of an estate, let alone how to navigate the challenges of probate administration. That’s why Simple-Probate wants to help you overcome any confusion you might have about the probate process.
The Common Challenges of Probate Administration
Probate is the court-supervised process that takes place after someone dies. It’s concerned with determining the value of a deceased person’s assets, paying debts and taxes, and distributing the remainder of what’s left to the intended beneficiaries. Probate laws vary from state to state, so it’s best practice to consult with an estate probate attorney to determine whether a legal proceeding is necessary and/or what reports must be prepared. And contrary to popular belief, attorneys are not needed, most probate proceedings can be handle you with Simple-Probate providing a unique online systems, you can use to create all the documents you need for probate, and most probate proceedings are not expensive nor lengthy.
Unfortunately, we don’t live in an ideal world. This gives way for many different problems to arise during probate. Here are some common challenges that may arise during the proceedings:
- A person doesn’t want to fulfill the role of executor. The executor of a Will is responsible for managing the deceased individual’s personal items and ensuring that the probate proceedings go smoothly. Many people who are named the executor of an estate decide to accept the responsibility because they want to honor the wishes of their loved one. But if the individual declines to fulfill the role, the court will likely appoint someone to oversee the probate proceedings.
- A dispute over the value of the estate. Assets of an estate are inventoried during probate. The deceased person’s assets must be valued appropriately to determine if estate taxes should be assessed and in what amount. An accurate evaluation will save a significant amount of time and often will prevent conflict regarding the value of the estate. A probate lawyer can help accomplish this goal.
- Allegations that an executor is not fulfilling his or her fiduciary duty. A fiduciary duty is when someone, in this case an executor, is obligated to act in a way that will benefit someone else, usually financially. If an executor mismanages or steals the deceased person’s assets, the victims of this breach of duty may file a damage claim.
Our Estate Probate Attorney Wants to Help You!
The majority of people own some assets or carry some form of debt at the time of their death. At Simple-Probate, weFbea understand how difficult it can be to take on the responsibility of a departed loved one’s estate.
Do you live in Orlando, FL, and need help navigating the complexities of probate administration? Visit Simple–Probate today.