When you pass away, it’s important to have a plan in place for your assets. Estate planning ensures that your things are passed down to the people or organizations of your choice, honoring your wishes after death. Though it can be an emotionally stressful time for the family, estate lawyers are able to step in to play this critical role in managing your estate. This can remove the burden from the family and ensure your assets are used as you intended in life.

You may be familiar with the basics of estate planning, but specifically, what does an estate lawyer do after death? If you are planning for the future security of your family or are navigating the loss of a loved one, keep reading to discover the role of an estate lawyer and how they can guide you on the path of financial security for those you hold dear.

Probate Administration

After the death of a client, an estate lawyer will initiate the process of settling the deceased person’s estate. What is an estate? An estate is the economic valuation of an individual, consisting of a person’s belongings, investments, real estate, insurance, furnishings, and any other assets or entitlements. In short, it is their net worth—everything of value they own.

Probate administration is the legal process of settling the deceased person’s estate. It involves the:

• Decedent—the deceased person
• Executor—the person named in the will to manage the estate or a court-appointed administrator in the absence of a will
• Beneficiaries—those who are named to inherent property from the estate
• Probate court—the court overseeing the entire probate process

During probate administration, the executor or administrator will be responsible for gathering the deceased person’s assets, paying debts and taxes, and distributing the remaining property to the beneficiaries as outlined in the will or determined by state law (in the absence of a will).

What does an estate lawyer do after death? They leverage their experience and step in to assist the executor during probate administration. Their role is crucial, as they help settle the estate, ensuring the decedent’s assets are distributed according to the will or state law. They can also help manage any disputes that may arise during this emotionally taxing time between the beneficiaries or executors, either through mediation or representation in estate court.

When a loved one passes away, an estate lawyer will assist the family in filing the deceased person’s will with the probate court, starting the probate process.

What If There Is No Will or Trust?

In the event that an individual has passed away without establishing a will or trust, an estate lawyer can help guide the family through the process of intestate succession. Typically, state laws dictate how an estate is distributed.

Other key responsibilities an estate lawyer will handle during this difficult time are:

Asset Distribution

An estate lawyer is responsible for ensuring compliance with legal requirements and for fulfilling the wishes of the deceased person. The estate lawyer plays a fundamental role in assisting the executor or the administrator as they gather and distribute assets. They will not only keep the process within the scope of the legal requirements, but they can also offer advice and support throughout the process.

These assets must be gathered and organized, and their value must be appraised. Outstanding debts and owed taxes must also be paid before the remaining assets can be distributed. These assets can include real estate, cash, art, antiques, bank accounts, insurance, and other physical and intangible assets.

How can an estate lawyer protect the deceased’s assets during distribution? They can ensure the assets are transferred correctly, as outlined by the will or trust or according to state law. They will help the executor or administrator complete the necessary legal documents and have them filed with the proper authorities.

They can also help obtain court approval for final distribution while working to minimize probate assets. Non-probate assets can be directly transferred to beneficiaries without involving the court. What are non-probate assets? Assets that are held in trusts or life insurance policies and retirement accounts with named beneficiaries, such as an IRA or 401k.

Debt Settlement and Taxes

Before the estate can be distributed to the beneficiaries, all outstanding debts and taxes must be paid. An estate lawyer can help guide an executor through this process, verifying that creditors of the deceased person have been notified of their death and ensuring outstanding debts are paid and necessary tax returns filed.

Even in death, outstanding debts are not eliminated. These debts must be paid from the estate before distributing the remaining assets to the heirs of the estate. An executor can work with their estate lawyer to determine outstanding debt and how to pay these bills from the estate’s assets. If there are insufficient funds within the estate, an estate lawyer can guide you toward the best plan for resolving outstanding debt.

An executor is also responsible for filing the deceased person’s final income tax return as well as any estate income taxes that may be due. An estate lawyer can help the executor pay any owed taxes directly from the estate.

Ensure Legal Execution of the Deceased’s Will or Trust

An estate lawyer can ensure the legal execution of the deceased’s will or trust by guiding the executor or administrator through the entire probate process. They will work to validate the will or trust, making sure that it meets the requirements of the state and is executed properly with the correct signatures and witnesses. If, instead, the assets are held within a trust, an estate lawyer will help the trustee avoid probate when possible and correctly administer the trust.

An estate lawyer works to facilitate the legal execution of the law and trusts in every step of probate, from filing the will to notifying the beneficiaries, identifying and valuing assets, paying debts and taxes, distributing assets, and closing the estate. They can also work to resolve disputes through mediation and negotiations, and if necessary, they can represent the executor if the will or trust is contested.

Final Thoughts

No matter your current age, health, or financial assets, you can begin estate planning to ensure your children or other loved ones are cared for. Work with an estate lawyer through a trusted law firm, such as Warren Allen LLP in Portland, OR, to secure how your assets are passed down.

Estate planning also helps make sure you’re taxed less, so more of your assets go to the people and organizations you care about most. Get started today to secure your family’s tomorrow.