In a time of grief after losing a loved one, it can be difficult to be clear-headed. It remains true that somebody must serve as administrator of the deceased’s estate and/or executor of their will, but the person chosen for this role does not have to shoulder the load alone.
A practicing estate administration lawyer in Monroe Township, NJ can serve as a legal guide during what is almost certainly a difficult time. Call our team at Bratton Estate & Elder Care Attorneys today at (856) 857-6007 and we will discuss how to help you move forward in your role as estate administrator and/or will executor.
There Is No Blueprint for Estate Administration
Most people who serve as a loved one’s estate administrator and/or the executor of their will have no idea where to start or how to decide the correct course of action. In what is typically an emotionally charged time, playing the role of who gets what, when, is often thankless and, to put it mildly, difficult.
Most people who are appointed to this role will have never fulfilled the duty before and may never again. For this reason and others, it is critical that you employ all of the help you can get from those who have overseen similar proceedings: estate administration lawyers. We will assist you throughout the entirety of the estate administration process, remaining as involved as you ask us to be.
What You Can Expect from the Estate Administration Process
While each family, will, and estate is different, there are some common processes when it comes to any estate administration.
- Tracking down, aggregating, and analyzing all financial accounts of the estate
- Ensuring the payment of all outstanding debts and expenses
- In doing so, appraising the value of the assets of the estate
- Ensuring that all state and federal estate taxes are paid
- Arranging the creation of financial accounts per the deceased’s wishes
- Distributing all assets as outlined in the will, if a will exists
- Entering the will into the probate process
Again, this is not a simple process, especially for those who are not used to handling complex financial matters. Depending on the size and nature of the estate, this can be a years-long process. Allow us to help, by calling our team at Bratton Estate & Elder Care Attorneys today at (856) 857-6007.
What an Estate Administration Lawyer Serving Monroe Township, NJ Can Do for You
In order to understand the value of an estate administration lawyer, you must know how they will help you, specifically. Our team will:
- Sit down with you to explain the estate administration process, from the time you enter the will into probate until all assets are distributed to their heirs and beneficiaries
- Handle the appraisal of the financial elements of the estate, from purely financial assets (stocks, bonds, bank accounts, etc.) to any physical assets without obvious value
- If we cannot undertake appraisal ourselves, we will refer you to or directly employ a qualified appraiser
- Calculate and ensure the payment of both state and federal taxes
- Interpret and issue any philanthropic donations that the deceased requested be made from their estate
- Calculate the total value of the estate before and after taxes and expenses
- Overseeing the creation of any accounts, funds, and trusts per the request of the will
- Serve as mediator, should any estate-related litigation arise
- Ensuring that you remain informed about all ongoing processes, including the tax considerations of every decision regarding the estate
Estate Administration Does Not Have to Be Complicated or Drawn-Out
Too often personal feelings, inexperience, and procrastination muddy the waters when it comes time to administer an estate and/or execute a will. There is no reason that this has to be the case, as a dedicated legal team can help you carry out the process in an efficient, stress-minimizing manner.
Minimize the Risk of Legal Disputes
Often the presence of an objective legal counselor can minimize the chances of litigation arising between those affected by the estate’s administration.
The divvying up of assets from a grandparent, parent, or other relative will almost inevitably create some sort of emotional tension. Perceptions of favoritism or unduly earned administration powers can create lasting rifts with real financial costs.
Not only can an estate administration lawyer in Monroe Township, NJ, assist you with their expertise, but their presence alone can create greater trust in the legitimacy of your role as administrator of the estate. We want to help you cope with the stress of being an executor so that the estate is administered as smoothly as possible.
Call our team at Bratton Estate & Elder Care Attorneys today at (856) 857-6007 to learn how we can help.