Estate Administration Attorney
Estate Administration is a part of estate planning, which involves the transfer of assets into the trust, keeping records, making payments and disbursing gifts to beneficiaries. Most people don't like this part of their estates, but it's an important part. Estate Administration can be a difficult and time-consuming process for a small business owner or individual. Estate planning can be done by a family member or a lawyer. Estate Administration is usually handled by the state, although there are many companies that handle this on a nationwide basis. An estate planner can also help with the process.
The most common questions that are asked about estate administration attorney services are about probate, wills, trusts, and gifts. How do they differ from one person to the next, and what can they mean to the process? Here are some things to consider:
- Estate administrators are called upon to make decisions under a person's will. In cases where the person dies before writing a Will, they are called upon to administer the decedent's properties and assets according to the instructions of the Will. When a person dies after writing a Will, the decision about who receives the property depends on the wishes of the surviving family members. In many cases, the surviving family members decide collectively what the decedent's final wishes are. In cases where there is no Will, the person providing the funds to pay off the debts may appoint an estate administrator to make decisions about the property.
- Estate administrators are very familiar with probate. They know how to fill out the forms, fill in the forms, and fill out a grantor trust deed, all required to grant someone the right to collect the monies remaining from a decedent's estate. If you are looking for an estate administration attorney to help, they will know which forms to use, and which will be sufficient to satisfy your state's estate tax requirements.
- An estate administration attorney can also help in the selection of beneficiaries. If there are several children or other beneficiaries, it is necessary to select an individual for each beneficiary. If the decedent has appointed more than one guardian for his or her beneficiaries, then each of those guardians must designate an executor. The attorney can assist the executor in fulfilling the legal responsibilities of being an executor, including choosing an agent and ensuring that all necessary forms are filed. Further, if a child or other relative has passed away, the attorney can help determine who receives which inheritance (if any) from the decedent's estate.
- If there is more than one heir to the decedent's estate, then the state or court will determine who gets which inheritance, called the administrator. A good attorney will take care of this part of the process, protecting not just the appointed executor but the rest of the decedent's beneficiaries. In many cases, the attorney will act as the administrator, while also defending the others. For instance, if there was a will with a provision that required the executor to pay certain taxes, the attorney can contest this and ensure that the taxes are paid. Additionally, if one of the beneficiaries was under the minimum age requirement for taking out an inheritance, the New York City tax law may override the wishes of the executor and allow the heir to receive the inheritance.
- Another area where an estate administration attorney can be useful is when the executor or other relative doesn't want to pay income tax. This can happen if the executor or other relative isn't legally allowed to receive the inheritance because of past records, errors, or other problems. If the executor or other relative doesn't pay the income tax, the IRS can issue a Federal tax lien against the estate. If this happens, the IRS can start a tax audit. This could lead to collections and legal action, so an estate administration attorney can help the executor to make sure the IRS doesn't get involved. The attorney can also make sure that the IRS doesn't get any control over the property or assets of the decedent.
- Many times, once an estate plan is in place, the situation changes. For example, the beneficiary no longer lives in the house, so the original trust document doesn't apply and the executor must establish another living trust. The same is true if the executor passes away, leaving a spouse as the primary beneficiary. If the executor doesn't have the cash needed to pay off debts, the trustee should establish a second living trust, which may pay off creditors, while leaving the decedent's estate free and clear.
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3649 Atlantic Ave Suite D
Long Beach, CA, 90807
Call Us: 562-426-8499
www.probateestatelawoffice.com
Why Us
- Experienced Trust Attorney
- Experienced Tax Estate Attorney
- Final Estate Tax Return Expert
- Decades of Experience in Probate
- Litigation Professional Representation
- Efficient Representation
- Trust Contest Situation expert
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- Current With Evolving Laws
- Complicated Estate Administration Expert
Contact Us
Paul E Groff Law
3649 Atlantic Ave Suite D, Long Beach, CA, 90807
Call Us: 562-426-8499