Probate is the legal process of determining whether or not the will of someone who has passed is legitimate and correct. Once a will has been “proved,” the individual’s assets can be distributed according to their wishes.
Probate legally establishes the will as the last word and will of the individual who has passed away. As a consequence of this procedure, the dead assets are transferred to the executor or administrator appointed by the court. Following that, it is expected that the executor would divide the assets to the heirs in the order in which they are mentioned in the last will.
Why Is There a Need for a Probate Lawyer?
A probate proceeding is a time-consuming and arduous procedure. As the executor, you may be required to take on a wide variety of tasks and activities connected to the administration and distribution of the estate. You might get yourself into a tangle and get very confused if you don’t have the help of a probate attorney. It’s just not worth it to take the chance of making a mistake. After all, even the tiniest miscalculation may have disastrous repercussions.
Retaining the services of a probate attorney may help to minimize stress and the likelihood of mistakes. As a consequence of enlisting the assistance of a qualified and experienced attorney, you may discover that the whole procedure is completed considerably more quickly.
You also have to note that not all wills are probated. When two people share a joint asset, such as a home or bank account, the asset will typically (but not always) be transfered to the person who survives the other. When an asset has a designated beneficiary, such as a life insurance policy or an R.R.S.P., the asset passes to the beneficiary outside of the estate, eliminating the need for a probate and estate provided these assets are the only ones left to the beneficiary.
If you aren’t convinced yet, here are more reasons why you should hire a probate lawyer:
Avoid Any Potential Conflicts
It is possible that probating an estate without the aid of a probate lawyer may raise the likelihood of family disagreements in the future. There is always the possibility of conflict amongst family members when money is transferred. Without legal help, this situation may deteriorate much worse. Furthermore, it is entirely natural for individuals connected to the deceased to want to participate in the probate process. Should they feel their share was not fair for any reason, they may grow confused and angry.
Increase the Speed with Which Visitors May Enter the Estate
It may come as a surprise to learn that the will’s executor does not have immediate access to the estate’s assets. That you can only be accomplished once the estate has been probated.
However, there is an issue with this in that it may take a long time. The length of time required is mainly determined by the size and complexity of the estate. For example, if the dead just had one bank account and one piece of real estate, you might complete the process relatively quickly. In most cases, though, it is much more complex than this.
The shortest amount of time that you may spend going through the probate procedure is about three months. In other cases, the process of probating an estate may take up to a year or more. That implies that the executor will be denied access to the property and be denied access to the life insurance policy, investments, and bank accounts.
You may expedite the procedure by retaining the services of a probate attorney. Their legal expertise along with the action of the executor will make it possible to obtain access to the estate considerably more quickly.
Prevent Any Claims against the Estate from Being Filed
Many high-profile lawsuits against estates have made headlines, but this also occurs to regular individuals daily. There are many distinct situations in which you may make claims against the estate. For example, it’s pretty unusual for someone to assert that they should be included in the estate when they were left out.
Other possibilities include a claim by a beneficiary that the estate is not being divided fairly and in line with the deceased’s wishes. If the deceased has any outstanding obligations, the estate may be subject to a demand for payment from those creditors.
The employment of an experienced probate attorney, on the other hand, may prevent or minimize many of these issues. It eliminates any perception that individual family members can benefit unjustly from the succession planning process.
Avoid Being Rejected by the Court System
When a will or estate is being probated, the court will demand that specific legal papers be completed and filed. These legal papers need the inclusion of certain information that must be presented in a precise manner. If any errors are made throughout this procedure, the estate may be rejected by the court system. However, if you engage a probate attorney to help you with completing and presenting these papers to the courts, you may be able to avoid the possibility of being denied. The proper and timely filing of legal papers will save you from having to go through the process all over again.
Receive Responses to Any Questions You May Have
Being the executor of a will is not something that many individuals can do regularly during their lives. Because of this, it is entirely natural to have a never-ending list of questions regarding the probate and estate planning processes on your mind. That may include anything from determining whether or not every asset requires probate to whether or not just certain assets need probate.
If you don’t answer several of these concerns, it may be very stressful and perhaps dangerous. You may be spending sleepless nights worrying whether or not you have informed everyone who needs to be informed of the death of your loved one.
Engaging the services of a probate lawyer to answer any questions you have, no matter how large or little, will ensure that you are fully informed and supported throughout the process.
Hiring a probate lawyer to contact banks, municipal authorities, and other third parties on your behalf may provide you with a piece of mind. They are more likely to prevent any needless delays in the process if they have prior experience and understanding of managing such situations.
Are you looking for the best probate lawyer in Ottawa? Ontario Wills is your best option! We provide optimum service that is tailored to your needs. Contact us today so we can help you navigate the complexities of the probate process with relative ease.