Leading Estate Planning Attorney Rory Clark Assesses Probate Being Handled Without A Lawyer – Leesburg, VA
Leading Elder Law Attorney Rory Clark founder of the Legacy Elder Law Center in Leesburg, VA examines the complexities of probate, emphasizing the potential pitfalls of navigating it without legal assistance. For more information please visit https://legacyelderlaw.com
Leesburg, VA, United States – March 5, 2024 —
When a person dies, it can unleash a complicated set of legal processes that have to be navigated carefully as they often have far-reaching consequences, Leesburg Elder Law Attorney Rory Clark said this week.
For more information please visit https://legacyelderlaw.com
Families in Virginia might be tempted to go into it alone to complete the probate process as they are wrongly under the impression that they don’t require legal advice when managing a relative’s will and estate.
In Virginia, appointing an executor or administrator is not always required. This is usually true when the estate is a small asset estate or personal property with a value on the date of death of no more than $50,000, said Clark, the founder of The Legacy Elder Law Center.
Additionally, qualification is not necessary to transfer a motor vehicle title. In these circumstances, the will is probated, proved and recorded in the Will Books of the Circuit Court, and nothing further is required.
Other instances where formal administration may not be required are joint accounts with right of survivorship in banks, saving institutions, or credit unions. In most cases, the payment of life insurance proceeds to a named beneficiary and the transfer of real estate to a surviving spouse or other person, where there were survivorship rights in the deed, occur outside the estate.
There is no set time frame for a will to be probated, or estate administration must be started. The probate of the will can usually wait until a week or so after the funeral. The initial steps in the estate process are recommended to start within 30 days after death.
A court’s involvement can be limited to opening, administering, and closing the estate if no one contests the will or objects to the executor’s actions.
Informal probate has the executor providing the will to family members, although it is advisable to open the document with an attorney present, said Clark. The original will, which needs to be stored safely, will be the one to be considered by the court.
The executor, named by the deceased in their will, oversees the estate during probate. Duties include compiling a list of interested parties and contact details if they have a claim on the estate, such as beneficiaries, spouses, other heirs, creditors, and trustees.
‘’The next task will be creating an inventory of the deceased’s assets, from bank accounts to real estate, personal possessions, cars, etc., and obtaining a fair market value for them. You can then establish a list of creditors, calculate the value of the estate’s liabilities and evaluate whether probate is required.’’
If no one is named or the person named refuses to serve or ceases to act after being appointed, administration may be granted to one who was an alternate in the will or who is a beneficiary of the will. Of course, anyone appointed must be competent and suitable in the opinion of the court making the appointment.
If there is no will, within 30 days of death, the clerk may grant administration to a sole distributee or their designee, or, if more than one heir to the one designated by all distributees.
The person appointed must take an oath that they will faithfully perform the duties required and, further, must give a bond in an amount at least equal to the value of the estate to be handled.
However, Clark said that anyone handling an estate for the first time could quickly become overwhelmed with all the responsibilities attached, the steps they need to take, the time to source assets, beneficiaries and creditors, and the pressure to act quickly from a grieving family’s point of view.
He pointed out that is where an experienced Virginia probate attorney can be invaluable and ensure the process is more efficient. They can handle filings, contact beneficiaries and creditors, and usually offer a faster conclusion for an estate.
Clark said lawyers are also often the best ones to explain and educate families about a will’s structure and the process without potentially inflaming internal disputes over who has the right to what. “Because they are detached, professional and knowledgeable, an attorney can mediate and deescalate family conflicts, or from relatives seeking to contest a will that can only deepen divisions.”
Lawyers can also handle disputes over potential disproportionate settlements, such as property being left to children and who should live in it. When beneficiaries face varied options to what should be a simple divestment, a lawyer can mediate or assist in a complex matter.
If a will is contested, a probate attorney can represent an executor in court and handle the legal affairs that an ordinary member of the public would find overwhelming.
“A lawyer can also bring their knowledge to bear when an executor is faced with complex technical details of trusts and estates,” Clark added. “Having an attorney at a family’s disposal during probate can often mean less time and cost trying to handle it on your own.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Rory Clark
Email: Send Email
Organization: The Legacy Elder Law Center
Address: 108 South St SE ste 212, Leesburg, VA 20175, United States
Phone: 703-783-1195
Website: https://legacyelderlaw.com
Release ID: 89122270
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