Because of its complexity, the probate process should not be managed without a lawyer’s assistance. Probate is court-supervised and involves identifying a decedent’s assets, paying the decedent’s obligations, and distributing the assets to the deceased person’s beneficiaries.
Probate lawyers in Fort Myers, FL handle two types of probate administration. These forms of administration include formal administration and summary administration. The probate administration process only covers the administration of probate assets.
Types of Probate Assets
Probate assets are the assets of the deceased that he or she owned at the time of death. The assets do not include a provision for an instant succession of ownership after death. Therefore, probate assets may include the following:
• A bank account that is in the name of the decedent
• A life insurance policy that is payable to the estate of the decedent
• An individual retirement account (IRA) in the decedent’s name
• Real estate that is titled in the decedent’s name or that is in the deceased’s name and another person’s name as tenants in common
You can find out more about these types of assets by speaking to probate lawyers. Probate is required so that ownership of the aforementioned assets can pass to the beneficiaries in case there is no will. The process is also required to settle a deceased’s financial affairs after his or her demise.
Why You Need to Contact a Probate Lawyer
If you turn to probate lawyers for the administration of an estate, you can be assured that any debts or obligations will be paid and that the correct procedures are followed during the process. A lawyer can also explain any terms that may be confusing to you.
If you need to contact a probate lawyer, call the offices of Daniel J. Endrizal, III PA for more information about the probate process and the procedures. Not only can a lawyer show you what forms need to be completed but he or she can direct you in the proper steps to take.