Dayton Probate Lawyer
Probate Attorney Assisting Individuals and Families in Dayton, Tennessee
Property is commonly passed down to a deceased person’s family members when he or she passes away. Even if the decedent has a well-thought-out estate plan, some disagreements may develop. Concerns about the acts of the personal representative or the trustee, for instance, might arise. Furthermore, the deceased’s previous mental condition may be brought into doubt. There may also be complications with creditors, beneficiaries, and so on. You will most likely have a lot of questions. And we are here to help. Reach out to a Dayton Probate Attorney at Elizabeth Greer Adams Law Group today to get started.
There are several unknown repercussions and laws to consider when it comes to probate. Whether you are planning for the future, need aid with guardianship, or require assistance probating an estate, you can be certain that Attorney Elizabeth Greer Adams, and her team, will be looking out for your best interests. While many of these concerns are complex, we would be pleased to help you through the legal system.
Probate is a court-supervised procedure in which all of the assets of a deceased individual are evaluated, liabilities and taxes are paid, and inheritance decisions are made. Probate might take anything from six months to a year to complete. Unfortunately, when members of the family, close relatives, or creditors are feuding over the deceased’s remaining estate, court supervision may be required, prolonging the process even further. Probate is generally required only for assets that the deceased individual possessed solely in his or her name.
The following assets may not be included in the probate estate:
- Living Trust Assets
- Property held in a joint name, such as a house or a joint bank account
- Beneficiary designations on bank accounts
- Transfer on death assets
- Policies, annuities, and income from life insurance
- Funds in retirement accounts with a specified recipient
When the executor, as stated in the will, submits the original, signed will in the probate office of the county clerk, the probate procedure begins. If there is no will, they shall appoint a personal representative of the estate (usually an adult child or surviving spouse).
The executor or personal representative will get a “letter of testamentary” from the probate court, which gives them legal permission to act on behalf of the estate. The executor will thereafter have control over all assets that are subject to probate.
The executor or personal representative will next post a notice of probate in the city where the deceased resided, notifying anybody who is entitled to receive, under the terms of the will or state law. Creditors will have four months from the date of publication to file a claim.
The executor must file an inventory of the estate’s assets with the court within 60 days. The executor will submit a petition to conclude the probate after paying all taxes and creditors.
Finally, the court will issue an order allowing beneficiaries to receive the remaining properties. The executor may be eligible for reasonable compensation for the services provided, based on the scale and complexities of the estate.
Timeframes can vary on Probate in Dayton, Tennessee. It all depends on what kind of administration you do. If there are assets of $50,000 or more, or if there is real estate of any value, the probate procedure in court usually takes at least twelve months from the date of passing to complete. If the only item your loved one left behind was real estate or assets worth less than $50,000, you may be able to conduct a less difficult type of probate in your situation.
Contact our Dayton, TN Probate Attorney
The last thing anyone wants to do after a loved one dies or becomes permanently incapacitated is to try to sort through debts, property, and assets. The probate system gives this process structure, enabling families and friends to concentrate on their emotional well-being. At Elizabeth Greer Adams Law Group, our probate lawyers combine compassion, impartiality, and hard work to assist our clients to carry out the decedent’s intentions in the most equitable manner possible.
Talk to our experienced probate attorney if you or a family member has concerns or difficulties navigating the probate procedure, or if you need assistance creating a will. Contact us at (423) 775-3621 or fill out our convenient online form.