Page 24 - Sinai Chapels

24 Sinai Chapels
Administering the Estate
While there is no requirement to use a lawyer, probate is a rather formal procedure. A minor omission, one failure to send a copy of an application, or one missed deadline can cause everything to come to a grinding halt or expose everyone to liability.
The death of a family member, or friend, can sometimes bring out the very worst in people. Experience shows that even in close families there is a tendency to get overly emotional about relatively trivial matters at the time of a loved one’s death.. Thus, it generally is a very good idea to have a lawyer administer the estate.
ESTATE SETTLEMENT ISSUES
Wills, probate, administration with no will, social security or pension plan benefits, Veteran’s benefits, insurance benefits, joint property, beneficiary designations, claims of dependents and creditors, probate fees, income and estate taxes and other issues may appear overwhelming after the death of a loved one. Sorting and settling all the details may be confusing because many of the terms are unfamiliar. This guide is not intended to be a substitute for specific individual tax, legal, or estate settlement advice, as certain of the described considerations will not be the same for every estate. Accordingly, consultations with an attorney and/ or financial professionals are strongly recommended. Most of all keep in mind that while it is important to take care of all of these activities, it’s more important to move slowly at a pace that is comfortable for you during your grieving process.
Probate
Probate is the process that transfers legal title of property from the estate of the person who has died (the decedent) to their proper beneficiaries.