When a person passes away, unless they have made other arrangements, or they have little to no assets, a person’s estate will enter into a legal process known as probate. This legal process can be quite difficult on family members that are still grieving the loss of a loved one. That is why it’s recommended that a person should retain the services of a Probate Lawyer in Davenport, IA if they cannot avoid this process.
Probate is a process where an estate is valued by the courts. In addition, it’s a time when any debts owed by the decedent are paid. After that, whatever is left is doled out pursuant to the person’s last will and testimony. This may seem rather simple, but it isn’t. In addition to its complicated nature, it’s a time consuming process. If it drags on, it can be quite costly as well. In fact, it’s estimated that over $3 billion dollars a year is spent on probate legal costs each year in the US.
However, there is a bright spot in all of this. If a person were to name a probate attorney to their estate, the executor of the estate, which is normally a spouse or family member, will have the needed legal advice to navigate this difficult and complicated process. In fact, there are times when a person will simply name a predetermined probate attorney as the executor of the estate to save a grieving spouse or family member the hassle of dealing with probate. While the probate courts can name an attorney to aid in the probate process, it’s a better idea to have a Probate Lawyer in Davenport, IA already chosen ahead of time.
No one likes to think about their death, but it’s good planning to do so. Not only can this spare your family the trouble of dealing with the probate process, but it could save your estate a great deal of money by being properly prepared for the process. From there, you can discuss your needs and concerns so that if the unthinkable happens, your family and your estate will be properly prepared.