Forefront Law, P.A
Attorneys that specialize in Probate Law are necessary to ensure that the assets are protected, that the procedures are followed and that the proper notices are given to ensure a smooth probate closure. Forefront Law, P.A has specialized in Probate Law for over 43 years. You know you can rest assured that your Probate process will be handled professionally and expediently when you select Forefront Law, P.A .
What is Probate?
Probate is the legal process that results in a court validating someone’s will or determining that he or she died without one. The court, as part of the probate, will appoint someone to handle the bills of the deceased as well as his or her assets. Depending on certain circumstances, that person is called the executor, administrator, or administrator with the will annexed.
What is Probate?
• The creditors of the deceased can appear before the court and make their claims for payment. Under law, they have a fixed period of time to do so and demand payment.
• The federal government to make sure taxes are paid.
• The collection of all the assets owned by the person who died and any sale of them, taxes and debts are paid before the executor or administrator distributes the remaining assets as provided for in the decedent’s will or, if there is none, following the rules of intestate succession.
Assets Involved with Probate
• Assets that were held in only the deceased’s name
• Half of each asset that was registered with his or her spouse as community property
• That portion of any asset that belonged to the deceased that he or she held as a registered tenant in common with other people
• Any assets, including such things as jewelry, art, furniture or the like, that are not registered
Assets Excluded from Probate
• Assets that are held in joint tenancy
• Assets that are held in a living trust
• Assets where a beneficiary is named, such as IRA benefits or life insurance policies
• Assets held in a bank or credit union where the deceased was named as a trustee for another person
• Assets that were registered in the person’s name that are “payable on death” or “transfer on death” to another person
• Assets registered by a married couple as community property with the right of survivorship
• All assets that go to a surviving spouse, including any assets the person who died owned separately in his or her name but were left in the will or by intestate succession to the surviving spouse
Why is it important to select an Attorney who specializes in Probate Law?
Because there are many steps to a successful Probate Conclusion.
• Handling of Notices
• Proving the Will
• Surety Bond Requirements
• Appointment of Executor or Administrator
• Title Changes for Collected Assets
• Asset Inventory and Determining Fair Market Value
• Claim Submission Requirements
• Creditor’s Rights
• Estate Asset Sale
• Tax Payments
• Federal Estate Tax
• Income Tax Returns
• Fiduciary or Estate Income Tax Return
• Petitions and Court Orders
• Conclusion of the Estate
Schedule an appointment with us today at Forefront Law, P.A, and make sure your future is taken care of with our estate planning services.
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