How to Choose a Probate Lawyer
Ask the lawyer what estates he has handled similar to this one.
Have the lawyer go through the steps of probate. This will allow you to not only have a roadmap for the probate, but it will give you an idea as to whether the lawyer knows what he is doing. This is more than a perfunctory recitation of the basics, but does the lawyer go into to details. Does he tell you about the bond. Does he tell you about the choice between Independent Administration of Estates.
Ask the lawyer about how he will handle potential family conflicts. The cost of administration can increase with litigation, but more importantly, how will he facilitate the family moving through this process intake. This can often be a tense process between siblings who may have old unresolved issues. The attorney can be invaluable in shepherding this case through the course without destroying the family.
Ask what percentage of the practice is in the probate court. 30 to 40 percent of the practice should be in the probate court.
Does the lawyer have access to other professionals in the firm to handle other areas of law. Often, probate can involve real estate litigation, family law and divorce issues, tax issues, and bankruptcy issues. Make sure that the firm has access to these resources and won’t tell you to go find another firm to handle x, y, and z issue.
Finally, do you get along with this person. This can be immensely important through the process.
Why you should change your beneficiaries on retirement plans after divorce
Husband and wife divorce with two minor children. Husband re-marries two months later and dies three months later dies unexpectedly. He had not changed his beneficiary on his 401k which was the ex wife. This case is going to end up in litigation. Who did the decedent want as his beneficiary? His wife of three months? His children? His ex wife who would likely take care of the children? What he wanted may not mattered and it may go to the person that federal law declares it to be – the ex wife.
When to pursue a conservatorship or guardianship of your elderly relative.
A conservatorship is court supervised control of a person’s health and finances. A guardianship is in reference to children. It is always difficult to take control of your parent who has traditionally been and been viewed as the caregiver, but failure to do so can cause a severe problem for you criminally and otherwise. I often have people come into the office investigating a conservatorship because they know one is necessary, but they are afraid to move forward. 70% of the time they are back in my office one month later needing an emergency conservatorship because of a fall or because adult protective services has come into the picture and are threatening the family with criminal or civil action.
Does your relative give money away to third parties or children that they really need for themselves?
Are they having trouble taking care of their daily activities?
Is their house becoming dirty or cluttered?
Are they falling a lot?
Have they taken a walk or drive and become lost?
If you react at the first signs of these issues, we can often get documents in place that will prevent the need and expense of a conservatorship.
Taking real estate as Joint Tenants or Community property with right of survivorship
I have seen many a realtor recommend Joint Tenancy to married persons, but this is a problematic thing. Although it can provide some protection against creditors, it also has a significant tax effect on the death of a spouse. When a spouse dies where the house is owned as community property with right of survivorship, the entire tax basis is assessed at the date of death as opposed to one-half of the basis in Joint Tenancy situation. If someone has lived in the house for many years, this adjustment in basis can save tens of thousands of dollars in capital gains tax when you mother needs to sell the house to move into a residential care facility.