OVERVIEW
We at Stuart Legal Group, P.C. are aware of how much you value leaving a legacy. To safeguard your belongings and the interests of the people you cherish, we provide thorough estate and probate legal services. Every stage of the estate planning process, from creating powers of attorney and medical directives to drafting wills and trusts, will be guided by our experienced lawyers. We'll work with you to draft a plan that honors your desires and ensures the future for the people you love.
The distribution of a deceased person's assets and property is governed by estates law, sometimes referred to as probate law. Here's a detailed explanation of how it operates:
Death and Succession: When someone passes away, their estate needs to be probated, which entails confirming their wishes, if any, and designating an executor or administrator to oversee their assets.
The distribution of a deceased person's assets and property is governed by estates law, sometimes referred to as probate law. Here's a detailed explanation of how it operates:
Death and Succession: When someone passes away, their estate needs to be probated, which entails confirming their wishes, if any, and designating an executor or administrator to oversee their assets.
Inventory and Appraisal: The executor or administrator creates an inventory of the deceased's assets, including real estate, investments, and personal property, and determines their value.
Creditor Notification and Claims: Creditors are notified of the deceased's passing, and they can file claims against the estate.
Debt Payment and Taxation: The executor or administrator pays debts, taxes, and expenses from the estate's assets.
Asset Distribution: According to the will or state law (if no will exists), the executor or administrator distributes the remaining assets to beneficiaries or heirs. Estate Closure: Once all assets are distributed, the executor or administrator petitions the court to close the estate.
Important roles to play:
Identified as the executor of the will, If there is no will or the executor is unable to carry out their duties, the administrator is chosen by the court. Recipients of assets from the estate: Heirs: In the absence of a will, inherit assets in accordance with state law. Creditors: Make claims for outstanding debts against the estate.