So, what do you think happens to your family when you die? Let’s face it, families depend a lot on the earning member and if you happen to be the one in your family, then you need to have proper planning about how things will work out when you are not there anymore. Alternatively, your family members can also get in touch with a lawyer so that he can handle all your estate affairs efficiently. This lawyer is known as a probate lawyer or probate attorney and he has all the legal knowledge and experience to settle the probate process of a deceased person. If you have documentations of all the assets you possess and the taxes you have paid and the taxes that are due, then it would be more helpful for the attorney to get things done quickly. On the other hand, if you have not done anything from your end and your family has to get in touch with a probate attorney, then also the same thing will be done and he will have to check if there are any outstanding taxes to be paid or not. Accordingly, the calculation will be done and the assets will be settled.
Important services to keep in mind
If you ever had a word with any Walnut Creek trust attorney, you will come to know a lot of things about how a probate attorney works and what his services are. Primarily, he takes care of all the probate and non-probate assets by checking the documents in detail and also obtaining the values and appraisals of the assets that the deceased person has. Once he gets all the details, he will file and prepare the documents that are required by the probate court within the given timeframe.
Payment of debts
As mentioned earlier, all the outstanding dues relating to taxes or any other debts from different sources will be calculated first. This will be done according to the current value of the dues. After that, the attorney will get the total value of the assets calculated and this will also be done according to the current value. Once everything is calculated, all the debts will be paid and the amount that is left over will be given to the deceased member’s family. That is why it is always good to have proper documents of all the debts that you have.
Settlement of retirement plans
You may have had invested for a hefty retirement plan which would have amounted to a lump sum amount. A Walnut Creek trust attorney will ensure that the retirement plan rolls over properly and he will also keep track of the estate account where the ultimate money is supposed to get transferred. In addition to this, he will also determine the person who will inherit the assets or properties of the deceased person and all this would require elaborate documentations which will be taken care of by the respective probate attorney who will be handling your case.