Our Indianapolis, IN probate lawyer knows that the probate process is not likely something you put much thought into. For most, it is only really at the forefront when a person is either developing their estate plan or attempting to resolve another person’s estate. While probate can be a reasonably straightforward process, at times, complications may arise, making probate something that many people dread. Whether you are in the process of developing your estate plan, or an executor of another person’s estate, it may be in your best interest to contact Dickmann Reason Bogigian & White. Our firm will work diligently to ensure that your heirs retain as much of your wealth as possible and that the probate process moves as smoothly as possible.
When a person has passed away, probate is the judiciary process that ensures the will is valid; estate taxes are settled, settles debts with creditors, and distributes assets to beneficiaries. Typically the process commences when the appointed estate executor files the proper paperwork with the courts. When there is a strong estate plan in place, not all assets will be required to pass through probate. However, when a person dies intestate (without a will), most assets will pass through probate, and the court will make decisions without the input of the person who has died.
The time it can take to move a will through probate can vary, but the probate process can take a few months to complete in cases where the will is not contested. However, keep in mind that when people disagree or attempt to contest a will, the process can become highly litigious and take significant time to resolve. To ensure the proper steps are taken and any issues that arise are quickly resolved, it’s critical to engage in the services provided by an Indianapolis, Indiana, probate lawyer.
Understanding What Happens to Assets During the Probate Process
Whether you are estate planning or an executor trying to understand the process, many people will want to know which assets will be able to avoid probate. When a person engages with a lawyer, a legal professional can help protect assets from probate. Here are common assets that may not need to pass through probate:
- Joint Tenancy:
- Bank Accounts
- Real Estate
- Assets held in a Trust
- POD/TOD Bank Accounts
- Retirement Accounts with Named Beneficiary
Probate doesn’t need to be a dreaded process, and there are strategies available to ensure that beneficiaries can maximize their inheritance. Speaking with a legal professional can prove incredibly helpful with the process of simplifying probate.
Our Firm Is Available to Help
After someone has passed, you may be left to resolve the estate of your loved one. This can be an incredibly complicated and even daunting process. Added stressors can include managing familial tensions in addition to the pressure of ensuring that you are carrying out the wishes of your loved ones in the way they would have liked. Our firm may be able to assist by:
- Making sure that documents are filed with probate court promptly
- Help organize and manage any debts owed to creditors
- Manage any conflict amongst beneficiaries
- Obtain appraisals for real estate
- Develop an inventory of estate assets
Probate can quickly become an overwhelming process but, it doesn’t have to be. With the services from our firm, Dickmann Reason Bogigian & White, you can move through the process with ease. Call our Indianapolis, IN, probate lawyer to schedule a consultation.