As the Philadelphia probate attorneys from Klenk Law are happy to explain to clients, probate is the method of transferring the property of someone who’s passed away to the rightful heirs based on state intestacy laws. If a person left behind only a will, their assets may still undergo probate. If an individual established a revocable living trust, their assets have been placed in that trust, and thus won’t go through probate.
Probate provides a way for friends and relatives to bring forward claims related to the deceased person’s assets. Probate can be beneficial if there were instances of elder abuse, dementia, fraud, or the person was unduely influenced. On the flip side of that, the con of probate is that it raises the chances of conflict over assets after the decedent has passed. Probate is a public process, so everything about an estate will be made public.
An executor has many duties related to the estate, but they are not able to avoid probate. There is less flexibility on what they can do than you would think. The probate process is controlled by laws and state codes. An executor will be bound to these laws, which were created to limit executor mistakes. For example, an executor has to seek permission from the court for most transactions of the estate and must log everything they do in an organized manner.
Your PA probate attorney can review the pros and cons to having your estate go through probate. Depending on your circumstances, probate may be quite useful or result in complications and substantial loss. Probate can be time-consuming too, often taking up to a year or longer to finalize. This allows time for challenges to be brought forward if need be. But many beneficiaries just want to receive their inheritance, especially in the midst of their grief.
At some point or another, we’re going to wonder whether we need to write an estate plan or not. If you pass away and don’t leave proper instructions behind, then your assets will go through probate. But if you prefer to skip the probate process and ensure your beneficiaries get their inheritance promptly, then your next step is to start writing down your wishes in a legally-binding way.
When someone writes a will and last testament, they will usually name an executor of the estate. If that person is not interested in having this role or is not able to do so for any reason, the appointed person can decline to be the executor. The court will then appoint an estate administrator or personal representative to take their place.
An executor has a fiduciary duty of the estate to act in a way that is only in the interest of the testator. If an executor acts in a way that shows self-interest or otherwise fails to perform duties during probate, there are legal solutions available. The court may remove an executor and choose someone else to oversee probate and the distribution of assets, along with other responsibilities. In some situations, a beneficiary or heir can pursue legal action if there is proof that an executor committed a breach of fiduciary duty.
Another way that probate may go wrong is if a will becomes contested. When will is contested, that means someone does not believe that the will shows a true reflection of the testator’s wishes. The person contesting the will has to present a convincing case as to why a will should not be followed or probated.
A will contest may happen if someone suspects that the testator had written the will under extreme duress, coercion, fraud, or in a state of mind where they did not fully understand what they were doing. An executor of the estate or other beneficiaries and heirs may come forward opposing the will contest, arguing that the will is an honest reflection of the deceased’s wishes.
During the process of probate, creditors will have a chance to submit claims against the estate. Claims that seem valid must be paid out from assets within the estate. But, creditors will have to show why they feel they have a right to collect. An executor would be wise to confirm that these claims are legitimate before paying any of them.
If there are existing assets that should be part of probate but cannot be found, this can cause prolonged delays. An executor will have to attempt to locate all of the estate assets that will eventually be distributed to beneficiaries or hires. This issue can be prevented if the testator leaves instructions for where these assets can be found after their passing.
Our team is glad to offer advice about estate planning. After assessing the pros and cons of probate with you, we can help you get started on the path you choose. Call our Philadelphia probate attorneys from Klenk Law today for the guidance you need!
Probate is the legal process of transferring a deceased person’s estate to his or her beneficiaries. It can be a lengthy and complicated process, with many requirements that must be met in order for the probate process to be successful. Without proper knowledge and assistance, it can be quite a challenge for those who have never gone through this process before.
In addition to having experienced Philadelphia probate attorneys from Klenk Law on your side, there are many other benefits of hiring a Philadelphia probate lawyer. At the very least, you will have someone who can help you with all the paperwork that is required for the probate process. While some of this can be done on your own, it is best to have an experienced professional to assist you through every step of the way so that you can avoid any unnecessary delays or mistakes.
Another benefit of hiring a Philadelphia probate lawyer is that they will often take care of filing all the necessary paperwork and will also ensure that all deadlines are met along the way. This is especially important if the deceased left behind any debts or claims against them. These types of claims can easily get lost or forgotten during this difficult time, so it’s best to make sure you have someone who knows what they’re doing to help prevent this from happening.
Probate is the legal process of transferring property from the deceased to their heirs. Not all estates go through probate but most do because this is how estates are administered and property transferred. The probate process starts with someone petitioning the court to open up the administration of an estate. This person must be a family member or distributee of the estate or a creditor. Sometimes banks will start an action if no one else does because they want to get access to money that is owed to them. Once an estate is opened up, it must be administered by someone called an executor or administrator depending on whether the decedent had a Will.
One of the main reasons you should hire a Philadelphia probate attorney from Klenk Law is that they can save you time. If this is your first time going through the probate process, you might be unsure of what to do next. An experienced probate lawyer will know exactly how to proceed and where to go next with the case. They will also know how long each process will take which can help you plan for the future and see when things might be settled. You won’t have to spend time figuring out what to do next. Instead, you will be able to focus on other things like grieving for your loved one or making funeral arrangements.
Hiring a probate attorney can also help protect your interests during this difficult time. You may not understand all of your rights as an heir or executor. Your attorney can make sure that your interests are protected throughout the entire process.
A Philadelphia probate attorney can tell you exactly what is required of an estate during probate. This includes ensuring all debts are paid off and that all assets are divided in accordance with the will or trust. There are many responsibilities to complete during probate and if you don’t have extensive experience with estates, you may not be aware of them all. Call a Philadelphia probate attorney from Klenk Law today!
Skilled Philadelphia probate attorneys are there for you when you need them the most. When you are ready to work on a plan that protects your assets and ensures your wishes are respected rely on a probate attorney to help you. Probate is the judicial process during which your will is approved and verified as a document of a deceased individual. It can be a long and complicated process, and it can result in contested wills and delays. To guide you through the process and help you avoid the pitfalls that probate can introduce, talk to a skilled lawyer like one from Klenk Law today. A Philadelphia PA Probate Attorney can save you money and make sure your wishes are respected.
Philadelphia Probate Attorneys
Klenk Law is a top law firm that has been serving the Philadelphia area for over 25 years. Our commitment to our clients is unmatched, and we have successfully delivered excellent results for clients who need help creating wills, setting up trusts, or have general questions about making an effective estate plan to secure their cash and other assets. You can depend on us for all of your estate planning needs and we will be ready to offer you the legal guidance that you need and deserve.
As an experienced legal team that specializes in estate planning, we know that the process can be quite overwhelming. It consists of many parts and it can be tough to understand the right decisions to make the right plan for you. However, you do not want to begin estate planning much later. Thinking about your plan early can save you the trouble and hassle in the long run.
Probate is the court-supervised process that approves your will, appoints your executor, and guides the transfer of your cash, property, and other assets. For individuals who do not have a will or estate plan set up, the probate process is usually necessary.
There are several reasons for avoiding probate. Many people want to avoid it as much as they can because of the inconveniences it can bring. It can take a long time to complete and it can be quite expensive. A bad plan can delay asset distribution. Delay can frustrate your heirs and increase costs. The probate proceedings are also public, which is another hassle for those who want to keep their estate matters private. If you want to learn about ways to avoid going through probate altogether, reach out to top Philadelphia probate attorneys who can assist you.
When it is time to go through the estate planning process, probate is one area that you want to address. Don’t delay starting your estate planning. A skilled Philadelphia PA probate attorney can offer you the legal assistance you need now.
Mr. Klenk, quickly understood the circumstances presented and provided clear and concise advice. This advice provided me with the information I required to progress the case to my advantage.
I've worked with and known Peter Klenk and his associates for years. They are highly professional, diligent and truly experts in their field. By focusing on just wills, trusts, and estates, Klenk law has experienced every angle of estate planning and applied that knowledge to help prepare our clients with thorough and comprehensive documents.
I'm totally satisfied with Klenk Law. Peter has a great legal mind with the personality of the guy next door.
Peter has done our family's trust and estate work since our children were born. He is not only extremely knowledgeable and honest, but makes sure that our arrangements remain current with the changing legal landscape. I would give him my highest recommendation as a professional in his field.
I met Peter soon after he started his practice in Philadelphia, PA. He and his team have always been there for me and my various inquiries throughout my life-changing events, corporate relocations. I have lived in various cities throughout the nation, I have never had a problem in contacting Peter or a member of his team. He and his office responds quickly and returns calls to me to fulfill my requests for information or to revise my estate needs while posing relevant thought-provoking questions that I need to consider to secure my future. One of Peter's best qualities is his ability to answer clients complicated questions in a simple way to ensure comprehension.