Deceased Estates that include decedents who are no longer living can be a complicated issue to deal with. It’s certainly not a matter to be taken lightly. It is something that has to be handled carefully and with the full understanding of all concerned.
A person can die and leave a trust, a limited power of attorney or a named representative to administer their assets in their name. Still, in most cases, three parties are involved, and the question becomes whether it would be a lawful estate. There is a need to make sure the powers given to someone are not being abused, or the person has been living in obscurity, or both.
The first thing you ought to ask yourself is whether you are dealing with the estate of a decedent. If the person you are dealing with is deceased, you would then have to decide as to who the decedent’s beneficiaries should be. Most people who are still alive will be uncomfortable giving out their names to an attorney and would prefer to see a professional who can look over the powers given to them, and have someone else manage the affairs of their loved one’s estate.
But when it comes to Deceased Estates, you have the option of dealing with an attorney and their staff. With an estate, you can hire a lawyer to handle all the planning of the estate or you can bring in another person to help.
A lawyer will do the formal process of filing for probate if the person is dead. If the person was living, you might have to rely on the will, which will be looked at under a different set of rules.
It is essential to know that your estate could be questioned if the person you are dealing with is alive, but you also have the opportunity to try to salvage a situation. They could be a person you care about, and you may find they have a will that could be amended so that they can inherit things. But this has to be done with the knowledge that the deceased person isn’t dead.
The second step involves trying to determine who is to take care of the assets. There are three main options that you have. You can appoint your spouse, who will make the decisions for you, or you can select a lawyer to handle the estate.
A lawyer will probably be the best choice because he or she will make the decisions and let you know if they would like to be included in the decisions about how the estate is handled. You also don’t have to keep the lawyer apprised of all decisions, but in many cases, they are required to sign a document that says they were not provided with any particular information. Your lawyer will know the best way to go about dealing with any issues that arise.
An appointed individual will come in and set up a trust, but often that trust isn’t always used in the case of a spouse. Because it isn’t used in every case, it’s not a good idea to appoint a friend, a co-worker or any other acquaintances. There is a reason that you need a lawyer.
On the other hand, the best person to appoint is someone that knows about estate planning and who is a good worker. If you feel your decedents are in danger of abuse or neglect, it may be in your best interest to use an appointed person.
Many simple tasks need to be done to make sure everything is legally in order. One of those things is filing the proper paperwork, which is only part of the process but is crucial.
To make sure the next time there is a need for an estate planning attorney, that they are one of the first things that you look into. Their service is not something to be considered an afterthought.