It’s hard enough to lose a loved one without adding the stress of probating a will. To probate a will means to establish its validity. Below are 7 common mistakes made during the probate process to help guide the bereaved in the right direction.
It’s understood, the bereaved need time to grieve. However, starting the process and contacting a probate attorney within a few months makes sense because waiting to hire a lawyer can make proceedings more difficult, costly, and time-consuming.
2) Hiring the Wrong Probate Attorney
It’s important to research professionals with experience in your situation and to find someone you can trust.
3) Not Understanding the Probate Administration Timeline
Once the order is signed, the process will take from 6-8 months to finish. This timeline is dependent upon the administration as well as a certain period for creditors who claim a debt from the estate to file their claims.
4) Misunderstanding Responsibility
Mistakes happen, however, any made with estate planning and managing assets may lead to money lost and deadlines missed.
5) Not Identifying and Securing Assets
It is all too easy for someone to not know what is considered an asset, but this mistake can lead to added stress, as well as loss of money and time.
6) Improper Claim Pay
If claims aren’t handled correctly, it can cause lost time and financial risk. For example, paying someone other than a creditor before the funeral bill or any claims against the estate could lead to the personal representative being personally responsible for paying any surcharges.
7) Real Estate Mismanagement
Managing assets and estate planning includes any real estate involved being appraised and insured properly, or money and assets could be lost.
These mistakes can be avoided when working with someone reliable. Trying to go through probate alone can be overwhelming, so please feel free to contact us for a free consultation. Over the last 40 years, we have helped our customers handle their probate needs, and we would love to help you, too.