So you are the executor or administrator of a will/estate. Do you need to have a lawyer for the estate? Maybe not. Many people complete probate without legal assistance. But here’s the top 5 reasons you may want to invest in a lawyer to help:
- You have contentious beneficiaries you are dealing with. If there’s a lot of conflict you may want to have a lawyer to make sure everything is done properly and to keep you out of trouble – you’re a fiduciary, you have a duty.
- The estate is high net value and is not going just to you. If you have an estate over $1,000,000 and you have other beneficiaries you may want a lawyer to help navigate the complications, particularly if there’s complicated assets in the estate.
- You are completely overwhelmed. Better to hire a lawyer than to take shortcuts that lead you to big problems later. If you don’t handle an estate properly and you don’t pay taxes, etc. you can be held personally liable.
- There are businesses or complex real estate holdings that you need to divest.
- Someone has filed a caveat or suit against the estate.
If you are in over your head, call for a consult and let’s talk through whether YOU need a lawyer in your corner.