After a loved one has passed away, there is a very good chance you are going to have to go through the probate process. This process takes place in Surrogate’s Court in New York and it can be a costly, difficult, and burdensome process for people who have just recently lost a loved one. That’s why it is so important for those who must go through the probate process to find ways to reduce the stress.
Mark S. Eghrari & Associates, PLLC can provide help to those who have lost a family member and who need assistance during the probate process. We can also provide representation to clients who want to make an estate plan that will allow their loved ones to avoid the difficulties inherently caused by the probate process. We can help you to explore alternatives such as pay-on-death accounts, trust creation, and joint ownership with rights of survivorship so you you can manage the transfer of wealth more effectively and reduce assets that go through the probate process.
If you are involved in probate proceedings now or if you want to spare your family from the probate process in the future, you can reach out to our probate lawyers today for help. You can also read on for some key tips about how to make the probate process less stressful.
Know Your Role
It is important that you understand your rights and obligations before the probate process gets started so you aren’t surprised if you’re asked to do more than you can handle. This is especially important for the executor of an estate, who has a lot of responsibility such as filing court paperwork, caring for assets, and addressing tax issues. If you are named in the last will and testament as executor of an estate but you don’t feel confident you can fulfill the obligation, you should consider relinquishing the job to someone else and not having the court appoint you as the executor, even if the will says to.
Don’t Have Unrealistic Expectations
Many people enter into the probate process eager to receive their inheritance and move on with their lives. Unfortunately, you should anticipate that the probate process will take a long time. According to estimates from Investopedia, the process can take around a year to complete. It can also cost around three percent to seven percent of the estate’s value to go through the probate process. While the cost and time can be frustrating, going in prepared will help the experience to be less difficult than if you are surprised by how long probate takes or how expensive it is. You can also work with an experienced attorney to try to ensure that the probate process goes as smoothly as possible and costs as little as possible.
Get Help from the Right Professionals
Fulfilling your role as executor of an estate or making sure you protect your inheritance if you are one of the potential heirs or beneficiaries can be challenging because it is difficult to understand all of the legalities and logistics behind probating a will. If you have an attorney to provide you with assistance, your lawyer can take care of many of the essential probate tasks for you. Your attorney can help you with filing court paperwork, understanding your fiduciary duty an as the executor, and taking all of the steps necessary to facilitate the transfer of wealth to new owners. If you are one of the potential heirs or beneficiaries, your attorney can also help you to take appropriate action if the executor of an estate isn’t fulfilling his obligations.
Getting Help from an Experienced Probate Lawyer
An experienced probate lawyer at Mark S. Eghrari & Associates, PLLC can provide you with assistance with all aspects of probate. Whether you are an executor of an estate, a potential heir or beneficiary, or another party with an interest in the estate, we can provide the assistance and advice that you need. To find out more about what our firm can offer, join us for a free seminar. You can also give us a call at (631) 265-0599 or contact us online at any time.