Planning for a Probate
Those who are considering creating a probate plan often turn to Legacy Law Center for legal guidance from a wills lawyer St. Peters, MO families trust. Probate laws and regulations vary by state, so it important to seek a lawyer who is familiar with applicable current and pending legislation. Prior to entering the probate process, it can be helpful to hire a knowledgeable probate attorney to guide your through the steps while protecting your best interests.
Typical Steps of the Probate Process
1. Authenticating the will – the party who submits the will to the court must provide evidence that the will is valid and the person who wrote or authorized the will was in fact the now deceased person.
2. Personal representative is appointed – the court must approve the person who was designated in the will as the representative of the deceased as the administrator or executor. If for any reason there is no will, a judge may declare their next of kin as the executor. When you work with a wills lawyer St. Peters, MO community members recommend from our law firm, you will be apprised of which laws may affect you if your loved one had no will.
3. Locating assets – the administrator will locate the assets and has the responsibility to protect them to the best of their ability. What is considered reasonable methods to accomplish this will depend on the type of asset at risk.
4. Determining death value date – the death value is what each asset is worth at the time the deceased passed away. The executor can determine the values using appraisals and bank account statements.
5. Creditor determination – the representative will identify creditors and send notifications of the person’s death. They may also post a notice of the deceased with a nearby newspaper. In some locations, a notice in the local paper is required by law. A St. Peters wills lawyer from our firm can provide you with more information about this.
6. Bill paying – the personal representative will pay off all the deceased’s remaining bills and can decline claims if there is any reason to think they are invalid.
7. Filing income tax return – the administrator will file the deceased’s income tax return, decide if an estate if responsible for paying inheritance taxes. They will pay any taxes from the estate’s funds and take action to liquidate assets as necessary. Talk to a wills lawyer in St. Peters, MO about estate planning options that may offer heirs a tax savings.
8. Estate balance distribution to beneficiaries – the appointed representative will petition the court to distribute what is remaining of the deceased’s assets to the names listed in the will.
Here at Legacy Law Center you can work with a wills lawyer St. Peters, MO residents turn to for help with the probate process. The process can involve complex laws. If you choose an attorney to work with from Legacy Law Center, your best interests can be protected.
Hiring an Attorney to Create Your Will
Creating your will can seem like a daunting process, which it can be without the assistance of a wills lawyer St. Peters, Missouri locals recommend from Legacy Law Center. Many people procrastinate in completing this important task because it can be hard to consider one’s own demise. A wills lawyer in St. Peters, Missouri from Legacy Law Center can be instrumental in helping you establish a will that reflects your final wishes. With our years of experience, we can help you put what may feel like a cumbersome process behind you so that you can focus on living your life.
During the process of establishing your will, a wills lawyer St. Peters, Missouri residents choose from our firm can apprise you of options you might have that will result in tax advantages. This can result in substantial savings for your heirs.
Your Funeral
No one wants to think about their own funeral, however, it’s a necessary step to ensuring that you are laid to rest in the way that you would like. Often, too many people omit this from their wills because they don’t want to address it or they do not work with a wills lawyer St. Peters, Missouri families trust. It is important to consider the following and detail your answers in your estate plans:
- Do you want a memorial service or a funeral?
- Would you like to be cremated or buried?
- Where do you want to be buried or have your ashes scattered?
Your St. Peters wills lawyer from Legacy Law Center can prompt you to address these and other potential concerns for your loved ones.
Beneficiaries
When it comes to choosing beneficiaries, you have options for how to include them in your will. A wills lawyer St. Peters, Missouri community members turn to can provide you with more information about the process.
Primary Beneficiary: The person(s) who will stand to inherit your assets. People usually identify the following to inherit their estates:
- Spouse/significant other
- Children
- Grandchildren
- Extended relatives
- Friends
- Charities or foundations
Contingent Beneficiary: It will make sense to identify back up beneficiaries in case the person you originally identified passes away before you.
It is important to note that when things are not clearly outlined in your will, you risk the court making a decision for you. If you do not name beneficiaries in your will, it is very possible that a judge will assign beneficiaries during the probate process. Without beneficiaries, the state will make this decision, often giving your assets to close family members.
Let us help you create your will so that you can rest easy knowing that your final wishes have been officially documented. It’s common for people to put this on the back burner until it’s too late. Allow your family the time that they need to grieve their loss rather than unnecessarily worrying over whether or not they are dividing your assets and managing your affairs in the way you would have liked. Contact Legacy Law Center today at 636-486-2669 for a free consultation with a wills lawyer St. Peters, Missouri offers.
