What Is Probate? Understanding Its Role in Estate Planning
The topic of probate is unfamiliar or confusing to many people. The thought of probate court even strikes fear in some families dealing with a loved one’s death.
To clear up the confusion and get help with probate issues, you can turn to the team of probate lawyers at Donnellon, Donnellon & Miller. They’re happy to answer your questions about probate and help you understand how it might relate to your estate planning.
Probate Explained
When a decedent—the person who passes away—has a Will in place, they might also leave behind unpaid bills or debts for survivors to deal with. Family members might also face costs for end-of-life medical care, funeral and burial expenses, and more.
The probate process accounts for such residual expenses. Probate allows for a period—usually six months—during which any person, organization, or company can file a claim against the estate for payment of debts or unpaid bills..”
Despite how vulnerable surviving loved ones may feel during this time, having a Will in probate offers some advantages. For instance, probate allows for the easy transfer of property titles and ownership rights. Also, most Wills contain a provision that relieves the estate from paying for a bond.
Once probate has ended, no one may make any claim against the estate. Limiting the probate period benefits all involved parties. On the one hand, six months is a reasonable amount of time for most organizations to collect on a debt. On the other hand, the family won’t have to spend years worrying about the threat of additional claims popping up unexpectedly.
The Executor’s Role in Probate
If you’re in the process of estate planning, a qualified Cincinnati probate lawyer can help you write your Will and clarify your wishes. In your Will, you can also stipulate who will assume the role of executor—the person you delegate to manage your Will.
The Executor ensures that all the decedent’s final wishes are carried out. Probate attorneys can advise an executor on how to perform their duties according to the Will. A lawyer can be a source of information and support for an executor, giving advice on
- Bequeathing property to specific individuals precisely as the Will indicates
- Handling claims made against the estate during probate
- Following disbursement arrangements stipulated in a Will, such as allowing accounts to remain open for a certain amount of time
- Helping beneficiaries avoid excessive tax burdens
Cincinnati Probate Lawyers Can Help with Various Probate Issues
A Cincinnati probate attorney at Donnellon, Donnellon & Miller can help you make sense of probate laws and understand the complex duties of an executor. A qualified probate lawyer can handle your Will or probate needs and answer all your questions. To schedule an appointment, fill out our contact form online or call our Montgomery, Ohio, office at 513-891-7087.