Probate Lawyers in Mountain Home ID
Probate Lawyers in Mountain Home ID: What Is Probate & How Is It done?
Probate lawyers in Mountain Home ID can help you go through the probate process which is the legal process by which a court oversees the estate of a person who has died. Probate lawyers in Mountain Home ID will help you to make sure the proper steps are taken to insure the debts and obligations are paid and the estate is distributed to the rightful heirs. Some people share the misconception that probate is avoided if you have a Will. While others believe that probate does not apply to people who die without a Will. Neither belief is correct and probate lawyers in Mountain Home ID can help you with questions like these.
If a person passes away with a Will, probate helps assure that the wishes of the deceased person are complied with. If a person passes away without a Will, then the passing of property will be determined by the Mountain Home ID law of intestacy. While it is not true, as some people believe, that the state automatically gets the property if there is no Will, good probate lawyers in Mountain Home ID can provide you with the correct answer to questions like this.
Probate Lawyers in Mountain Home ID: What Are the Usual Steps
to Probate An Estate in Mountain Home ID?
A Will normally designates the person who the deceased has chosen to be the personal representative or executor (the terms are often used interchangeably) of the estate. The personal representative is the person who manages and administers the estate. They usually do so with the help or assistance from probate lawyers in Mountain Home ID.
If you die without a Will, the court will select a personal representative for you. Individuals related to the deceased person, usually have priority. A family member, such as your spouse or an adult child, can request that the court appoints him or her as the personal representative of the estate. Again, good probate lawyers in Mountain Home ID can assist with deciding who has priority to be the personal representative.The personal representative or probate lawyers in Mountain Home ID begin the probate process by filing a document entitled Petition for Probate of Will and Appointment of Personal Representative with the probate court. Once the personal representative is approved, the court will issue to him or her Letters of Administration or Letters Testamentary (official documentation showing authority to act on behalf of the estate).
These documents are typically prepared by probate lawyers in Mountain Home ID. The personal representative must agree to the appointment. Personal representatives are entitled to be paid for their services but often are not if they are family members.
If you have a Will, the court issues an order admitting the Will to probate. This is an acknowledgment of the Will’s validity unless there is a contest to the Will. If a will is contested, then the parties really need the services of good probate lawyers in Mountain Home ID.
Some Wills require the personal representative to “post a bond” with the probate court, which guarantees that the executor or personal representative will administer the estate properly. However, most Wills waive the requirement of a bond.
Probate Lawyers in Mountain Home ID: Notifying Heirs, Creditors,
and the Public of Death.
The personal representative should notify all heirs of his/her appointment and of the probate proceedings. This gives an heir or beneficiary the chance to object if they want. The personal representative may also be required to publish a death notice in the local newspaper. This serves as a public notice of the estate's probate and enables creditors or people who think they have an interest in the estate to file a claim against it within a specified time period. This published notice makes estate part of the public record. Probate lawyers in Mountain Home ID will assist the personal representative through the steps required.
Probate Lawyers in Mountain Home ID: Inventorying Property
of the Estate.
The personal representative should counsel with a probate lawyer in Mountain Home ID with respect to the distribution of property. This step begins with an inventory of the property of the estate which includes both real estate and personal property. Once inventoried, a value can be placed on the various assets of the estate. The personal representative needs to make certain there is enough property value to pay all of the debts before they start making distributions to heirs or beneficiaries. Counsel from probate lawyers in Mountain Home ID should be sought if there are any questions.
If there is not enough to cover all the debts, one or more beneficiaries may receive less than the deceased intended or even nothing at all after the debts have been paid off. Probate lawyers in Mountain Home ID can help decide how to distribute the assets.Distribution of property is one area that can result in liability to a personal representative if not done properly. Therefore, they need to work closely with probate lawyers in Mountain Home ID. During the inventory, if property is found missing or is no longer owned by the deceased, sometimes replacement assets or the cash equivalent can be used to replace the missing property. Sometimes a Will simply provides for the sale of all assets and then a division of the proceeds among the beneficiaries.
Probate Lawyers in Mountain Home ID: Paying Bills, Taxes,
and Distributing the Estate.
Payments are typically made in the following order:
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Estate administration costs (legal advertising, appraisal fees, personal representative fees, attorney fees, etc.);
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Family allowances (For support of family members);
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Funeral Expenses;
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Taxes and other debts (medical bills, etc.);
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All remaining claims; and
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Whatever is left after creditors get their money is distributed to the beneficiaries named in the Will. If there is no Will, the laws in Mountain Home ID state how and to whom the remaining property is distributed. Consult with good probate lawyers in Mountain Home ID before distributing property.
If probate goes according to plan and all notices and communications are properly handled, the personal representative is usually protected against any subsequent claims. However, it is wise for the personal representative to work closely with probate lawyers in Mountain Home ID through this process.
Probate Lawyers in Mountain Home ID: How Long Does It Take?
Some probate procedures can be relatively straightforward and can be done within a matter of weeks. Others are more complicated, especially if a Will is contested and may take months or even a couple of years to complete. It all depends on the circumstances. The appointment of a personal representative can usually be done fairly quickly and then the personal representative has authority to pay bills, make distributions, etc. the personal representative should work closely with a probate attorney in Mountain Home ID as they proceed through the process.
Probate Lawyers in Mountain Home ID: Conclusion
There are different probate procedures available in Mountain Home ID depending on the circumstances of each case. For example, there is a fairly simple procedure if the only heir is a surviving spouse and the estate is not very large. There are also informal and formal probate procedures. Sometimes probate may not be necessary at all. Probate lawyers in Mountain Home ID can help you decide which procedure is best for your circumstances.
To Contact Probate Lawyers in Mountain Home ID
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