Probate Attorney Fayetteville Arkansas can help you settle your loved one’s estate with a minimum of hassles.
What Does a Probate Attorney Do?
A probate attorney works with the executor, administrator, or personal representative throughout the probate process.
A probate attorney works with the creditors. They send a notice of probate to all of the known creditors and advertise in the paper for other creditors, both secured and unsecured, to put in their demands. The attorney then works with the creditors to negotiate a settlement. If there are not enough assets in the estate to cover all the outstanding debts each unsecured creditor will get a part of the remaining estate. The unsecured creditors only get paid after the cost of the funeral and attorney fees are paid. If there is nothing left after that, then the unsecured creditors will get nothing.
The Probate Process
Probate either starts by admitting the will and naming the Executor/Executrix or by starting estate administration and appointing an Administrator/Administratrix (all of which are now called a personal representative). The personal representative is responsible for running the probate process. Usually, the personal representative hires and probate attorney Fayetteville Arkansas to help with the probate. Typically, the attorney does all the paperwork at the right times and has the personal representative sign as necessary.
The rest of the process consists of advertising in the newspaper; finding all the heirs; getting waivers signed and filed; gathering up and protecting estate assets; paying creditors; paying final expenses; and finally distributing the estate to the heirs and devisees (devisee is a fancy word for people you left specific gifts to in the Last Will and Testament). Finally, after the property is distributed according to the Will or law, receipts are provided to the court and the case is closed after the report of final distribution.
Over 96% of all probates are not challenged and proceed from start to finish without any issue.
The post Probate Attorney Fayetteville appeared first on DeWitt Law Firm, PLLC.
from DeWitt Law Firm, PLLC https://ift.tt/2Nr62Zr
from DeWitt Law Firm, PLLC
No comments:
Post a Comment