Importance of a Probate attorney

Probate lawyers are also called estate or trust lawyers they help the administrators to manage the probate process if there is no will.They also help with the estate planning,like the drafting of wills,giving advice on the powers of attorney. They also serve as executor and administrator.They will also manage the required proceedings in court.

Fees of Probate Lawyer
Probate lawyers use the following one of three methods to charge from their clients:
  • Fees depending on hourly service provided.
  • Flat fees for the whole piece of work.
  • Payments percentage basis, for instance five percent of the estate's value
The exact amount of fee charged by probate lawyer palm beach varies from lawyer to lawyer. It will also depend on the number of years of experience which lawyer has, how many critical cases he has handled and other factors such as where the lawyer practices.

Roles and responsibilities of Probate lawyer palm beach

  1. He is responsible to order death certificates and also to file the deceased persons final income tax return.
  2. The probate lawyer also deals with the claims of the creditors and gives notice to them, beneficiaries and other people who are eligible to receive the notice.
  3. He is responsible to collect proceeds from life insurance policies.
  4. Probate lawyer Palm beach also helps in resolving tax issues.
  5. He prepares all the documents required by a probate court.
  6. He is responsible to make the final disbursement of the assets of the deceased person after all taxes are paid off.
  7. He manages the estate checking account.
  8. He assists in payment of bills and debts.
  9. He obtains appraisals for the decedent’s properties.
Potential Problems if one Tries to Conduct a Probate will Without an Attorney:

One of the intent of any lawyer is to advise the personal representative regarding his or her legal duties and make sure those duties are carried out. A personal representative is reasoned a fiduciary to the heirs of the estate. This means that he has a work of care to those people and is required to set aside his personal interests in tendency of the beneficiaries.

An essential task that must be done is preparing and filing a full and final account of what that executor has done during his term as personal representative. This lets in information about bank accounts and deposits, bills paid, amounts received, dispositions of stocks and bonds including profits and losses on gross sales, sales of securities and receipts of dividends or losses on the sales.

Accounting can become quite complex. Most personal representatives eventually use a lawyer to perform the accounting function at least.

Also, in more complex estates, any accounting firm which is familiar with court accounting necessitate is hired to do the actual accounting. The attorney then receives and reviews the accounts status and drafts a petition for final distribution. This way, the heirs are informed regarding what went on, and how much each of them is entitled to.

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