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If you've been tasked with being the executor of the will, and it's a simple estate, you may be able to avoid the need for legal assistance. Simple estates often require little assistance. However, if there are complex issues surrounding the will that you've become the executor of, you'll want to consult a probate attorney. Complex issues can turn into serious trouble quickly, especially if they're not handled quickly and properly. Here are just four of the signs that it's time for you to consult a probate attorney.
The Family Members are Fighting
In most cases, family members get along fine during the probate process. However, that's not always the case. Sometimes, emotions get the better of people, and fights erupt among family members. If you're dealing with fights among the family, you need to consult with an attorney. There may be issues that can only be resolved through legal channels. Not only that, but a probate attorney can help you deal with complex family battles.
The Estate Contains Business Assets
If the estate that you're overseeing contained assets such as personal homes and cash, you may be able to proceed without legal assistance. However, that all changes if there are business assets involved. If you're overseeing an estate that contains business accounts, commercial real estate, or a large stock portfolio, you need to hire a probate attorney right away. Business-related assets often require special handling, especially during the probate phase.
There May be More Debts Than Assets
If you've discovered that there are more debts than assets in the estate, a probate attorney can help you make important decisions. When there are sufficient assets to pay off the outstanding debts, the process is simple. You pay off the debts and divide the remaining proceeds between beneficiaries. However, when there are more debts than there are available assets, you have to go through a process of prioritizing those debts. An attorney will help you sort through the bills so that you pay the most important bills first.
There Appear to be Issues With the Will
If you've been assigned to be the executor of an estate, and there appear to be issues with the will, you're going to need immediate legal assistance. This is particularly important if an additional will has been discovered, or there are questions regarding legitimacy of the existing will. You can't afford to make mistakes when questions regarding the will exist.
Share4 March 2019
