Probate and Loan to Trust Issues

probate attorney

 

It is so critically important that all people have some understanding of what a probate attorney can do and why they are so very important. You will want to know things such as “are wills and trusts public records”? and “are wills filed with the court”?. A few essential questions like this need to be answered before you can fully grasp the subject.

People don’t like to think about the passing of a loved one, but we all know that this is a realistic possibility at some point in the future. It might be easy to bury our head in the sand about it, but the more effective way to handle this situation is to seek out a lawyer who can guide you through the process. You might ask yourself can I go to probate court without a lawyer or can I probate a will without a lawyer, and the answer is yes, but you really don’t want to take this kind of risk if you don’t have to. These lawyers practice their whole careers to work on cases just like yours, so it only makes sense that you would want to take their experience and use it to help serve your own ends.

Sellling real estate in probate

Probating an estate is a difficult, time consuming, and complex task when dealing with a loved one’s belongings. It usually takes place in a special court when the deceased owner has left a will or there are items not subject to the will or other forms of ownership. However, many people want to avoid probating an estate because the records are then made public, which gives the public access to certain financial and other records, and because it requires legal counsel. When in probate real estate, cash, and the other belongings in question are still governed by the executor identified in the will. Probate problems can be avoided in a number of ways.

Firstly, inherited real estate and bank accounts can be passed without enumeration in a will and without probate if they are jointly owned with right of survivorship. This can prove to be a sticky situation indeed, and one that is unfortunately far more common than many people might think. Additionally, it should be noted that debts owed to the deceased can be a sticky situation as well, particularly in specialty situations such as collecting on a loan to trust organizations. If you find yourself in the unfortunate position of executor or executrix of an estate in which a loan to trust organizations must be collected on, your best bet for success is to hire an attorney with extensive experience on loan to trust collections when the lender is deceased and funds are to be directed to their estate. This type of legal help can also prove to be invaluable when it comes to ensuring that the proceeds of any loan to trust organizations that the deceased made prior to their death are divided up proportionally to any survivors according to the law. Search for a solid probate attorney to help you through this situation, and make sure that all of your paperwork is together and complete for best results!

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