Probate lawyers manage the affairs of your estate after you have passed away. While it is necessary to have a lawyer for writing out your will, it is not always necessary to have a probate lawyer. If you are confused, you are not alone. Here are three reasons why you should hire a probate lawyer and the scenarios to which the reasons pertain.
You Are Going to Have a Lot of Debt
If you own a business or company for which you owe a lot of debt, or you have a lot of debt in general, you will want to hire a probate lawyer. Debts always complicate the distribution of assets upon a person's death. Your creditors receive notice that you have passed and want their money back. The only way they can get their money back is to sue the estate. Since you would no longer be around to contest their actions or appear in court to defend yourself, your probate lawyer would have to be your stand-in.
The probate lawyer would argue for lesser amounts repaid, or attempt to eliminate these debts completely based on your inability to pay from the grave. A large portion of your assets would be protected. Then your lawyer would distribute your assets according to your will.
You Have Family That Will Contest the Will
Adult children who expect to benefit from your passing may contest your will. If you suspect in the least that this will happen, you need a probate lawyer. The probate lawyer fights in your absence to keep the terms of your will intact so that none of your heirs will get more than you expected to give them.
You Have Hidden Assets
Lawyers are sworn to client confidentiality, regardless of the status of your person (e.g., living or deceased). As such, you can reveal to your probate lawyer that you have hidden assets. Perhaps these assets are in a Swiss bank account, or an offshore account in the Cayman Islands. Whatever it is and wherever it is, your lawyer can keep that fact hidden from your heirs so that there is less of a chance of courtroom battles and legal disputes. In your will, if you plan to leave these hidden assets to your heirs, can simply leave bank account info to each heir and have the will proclaim that there is "an undisclosed amount" of assets in each account designated for each heir.
Contact a lawyer, like David R Webb Attorney, for more help.
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