There's an old saying that a lawyer who represents himself or herself has a fool for a client, and that's especially true in criminal cases and civil cases where lots of assets are involved. Probate could be a different matter because it's possible to handle probate without an attorney in certain cases, but there are risks involved when you take this approach. Understanding what's involved is the first step before deciding what you want to do.
Probate is the legal process of settling a person's estate after his or her death. During the probate process, the executor or administrator of the estate gathers information about assets and debts of the deceased, pays outstanding bills and gets estimates on the value of personal property, stocks, investments, business operations and real estate. The process can take a few months or up to a year or longer. There are many legal documents to complete and file with the court, but a general overview of the probate process includes these steps:
The will must be probated by the court in the jurisdiction where the deceased legally resides. Most wills name an executor, and if you're not the person named, the decision to probate the will is out of your hands. If the deceased failed to name an executor, you can petition the court to be name as executor. If the person died without a will, the law determines who will inherit. In this case, you might be named administrator of the estate and perform the same duties as an executor.
Find Out Why You Need A Probate Attorney If A Loved One Dies Without A Will In Florida.
Depending on the state and the deceased's assets, you might be required to arrange for a surety bond to guarantee you’ll handle the assets responsibly.
You'll need to list interested parties such as next of kin and their descendants. If a spouse or beneficiary is judged incompetent, a guardian ad litem must be appointed to act on that person's behalf.
You must send copies of the petition to all interested parties, beneficiaries and people who receive gifts from the estate. You also need to publish a notice in the local newspaper and file a copy of the notice with the court.
Is A Lawyer Required For Probate In Illinois
If there are no objections to the will after the probate notice has been received, you must prove the will's authenticity. If everyone agrees, the court can accept the will. Other methods of proof include filing a notarized affidavit from one the will's witnesses. In some cases, the will might include a self-proving affidavit signed by witnesses.
Once the will is proved, you'll have to submit a financial report covering cash, estimated value of assets and remaining bills against the estate, which the court will have to accept before you can begin disbursing funds. Sure, you can handle probate yourself, but you'll have to go through all these steps even if everyone is in agreement, and that doesn't happen very often--especially when large estates are involved. At this point, you might begin to see the value of hiring a lawyer to handle probate. An Los Angeles County probate attorney at the Citadel Law Corporation can explain probate law and offer comprehensive probate services to determine the validity of the will.
The estates of people who die without many assets often qualify for a simplified probate process, and most states have this kind of arrangement. In California, for example, estates valued between $20, 000 and $150, 000 qualify for simple, expedited probate. People who live in a joint-tenant arrangement can pass their share of the property directly to the surviving tenant unless one of the parties leaves his or her share to someone else or a trust.
Watch: Do You Need To Hire An Attorney To Complete The Probate Process In Illinois?
You have to file a tax return for the deceased, and that can generate many complications for someone inexperienced in tax law, finding deductions and knowing how to treat complex income streams, capital gains and investments. There are also federal estate taxes to consider on cash, property, investments and other assets that are transferred from a deceased person's estate, but these generally apply only to estate bequests that exceed $5.43 million per person. If you're talking about that kind of money, trying to handle probate yourself would be extremely unwise.
Filing petitions can free money from an estate to transfer to beneficiaries in several ways. For example, assets can be transferred to the spouses of deceased persons without going through probate court by filing a Spousal Petition. Some assets are excluded from probate, and these include:
How's your knowledge of legal terms? You might need to brush up on complex probate-related terms like joint-tenancy with rights of survivorship and other complex terminology. If a relative challenges the will, you could be in for a long legal battle while the assets remain unavailable to every party who's named in the will.
Estate Planning & The Probate Process: What Is A Probate Lawyer?
Most people would never try to perform surgery on themselves or pull their own teeth because these jobs are best handled by professionals. The same is true of probate unless the estate is small and there are only one or two beneficiaries who are entitled to divide the estate equally. Any variations or unusual circumstances can lead to beneficiaries challenging the will and disputing the estate's value. Heirs often become highly emotional and volatile, and even close family members can challenge your decisions if they feel short-changed. There's also the red tape to handle, risks of doing things incorrectly and ignorance of laws that could save you thousands of dollars. That's why hiring a lawyer and doing things the right way is important. In the San Francisco area, Citadel Law Corporation specializes in estate planning, probate law and ways to transfer assets without probate. Contact the firm today for answers to your questions about probate and estate planning.DIY Probate: How to Probate a Will Without a Lawyer Skipping the lawyers fees may sound intriguing, but probate may be harder than you think...if you're up for it - we'll guide you through to probating a will yourself.
The content on this page has been reviewed by qualified CFP's, TEP's, Tax accountants & Practicing and past lawyers to ensure it is factually accurate, meets current industry standards and helps readers achieve a better understanding of probate, estate planning, and estate taxes for your loved one.
Given how expensive probate lawyer fees can be, you might be wondering if probating a will is something you as an executor can do without legal help.
The Benefits Of Hiring A Probate Lawyer In The State Of New York
Already having a last will and testament does make the process much more efficient, but depending on the assets of the estate (and their respective complexity) choosing to probate a will on your own may cause more harm than good.
Before laying out the steps involved with probating a will yourself, it is crucial to note that this may not legally be possible, depending on your jurisdiction. Both Florida and Texas require a lawyer to file probate for the estate, whereas California does not.
Make sure to read up on the regulations regarding probate for your state or province as step zero of the DIY process. You don’t want to go through the work of compiling sophisticated information about the estate only to find out that all your work was for nothing.
Surviving Spouse Rights In Washington. Do I Have To File A Probate
If you’ve read this far, there is a good chance you can probate a will on your own. Here’s each step laid out in detail below.
You will need to file for probate in the state or province where the decedent lived (also called their domicile). The documents required to complete this process may differ slightly, but you will generally need the following:
Alberta has one of the lowest probate costs in Canada, with the fee being a mere $35 for estates under $10, 000. Other provinces such as Quebec, charge no fees whatsoever. In Arizona, for example, a court filing costs around $300.
The Probate Process: Four Simple Steps
You as the executor will need to hand in the will to the applicable court for it to be verified. During this process, the beneficiaries or other parties will have the option to contest the will if they don’t believe it to be valid. If this step goes smoothly, it can be quite expedient.
For this step to proceed, you may need to file other documents with the court, such as a death certificate or other probate forms.
Part of the step of authenticating the will involves having the executor be officially appointed. This may seem redundant as you were named the executor in the will. However, banks and other financial institutions will not allow you to move any assets without a will authenticated by the court.
Step By Step Eguide To Probate In Florida
Now that you have been verified as the estate’s executor, you need to make sure all the other interested parties are aware of this as well such as creditors, beneficiaries, and anyone else involved in the estate’s matters. Additionally, you may need to post a notice to creditors in your local paper to meet legislative requirements.
A quick note: Some states and provinces may require you to post a bond of probate. This is intended to protect the beneficiaries against any possible errors in the distribution of the estate. The insurer giving the bond promises to credit any beneficiaries or creditors
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