An Indianapolis probate lawyer can represent a person who has been named executor of an estate as the probate process takes place. The executor of an estate has many important responsibilities and legal obligations during the process of probate. Fulfilling many of these requirements necessitates technical and legal knowledge. Because an executor does not want to let down the deceased person (the decedent) or fail to live up to his legal duties, it is beneficial for the executor to get proper legal help from a knowledgeable attorney.
Frank & Kraft has helped many executors to fulfill their obligations. An Indianapolis probate lawyer at our firm can make serving as executor of an estate easy. Not only will our legal team help guide you through understanding how the probate process works and what must be done during probate, but we can also take care of some of the legally-complex tasks on your behalf. To find out more about how our firm can help you with probate, give us a call today.
How Does an Indianapolis Probate Lawyer Help Executors?
When a decedent names an executor in his will, the executor still must go to court to officially be appointed in this position. Frank & Kraft will assist in starting the probate process in court and will advise you what your duties and obligations will be during probate so you can make an informed choice about whether you actually want to accept the role of executor. If you decide you don’t want to be the executor of an estate, you can decline the role and the court will appoint an estate administrator instead.
If you do opt to follow the wishes of the deceased and act as executor, you will have a fiduciary duty, which is the highest of the legal duties that you can owe to another. You will be expected, throughout the probate process, to put your own self interests aside and act on behalf of the estate in a responsible manner. If you fail to fulfill your obligations, you could be removed as executor and it is possible that legal action for breach of fiduciary duty could be brought against you.
As the executor of an estate, you will have to take care of the assets in the probate estate during the probate process. This can include paying bills out of estate funds and keeping a careful accounting. If anyone owes money to the estate, the executor of an estate will need to collect it. The executor of an estate will also need to track down all assets that should be part of the probate estate, and will need to provide notice of the probate proceedings to all interested parties including any creditors who may have claims on the estate.
As the probate process moves forward, the executor of an estate will have to continue to submit any relevant court paperwork. Complying with all tax obligations is also a responsibility of the executor, and the executor will need to complete any technical legal requirements associated with the formal transfer of all assets to new owners. Depending upon the kind of property that is in the probate estate, the executor of an estate may have to facilitate the changing of titles and deeds so the decedent’s property can officially and formally transfer to those designated in the will as heirs or beneficiaries.
Executors can also face other challenges as well. For example, it is the job of an executor of an estate to make sure that a will is defended if the will is contested. Frank & Kraft can provide assistance in complex probate proceedings where problems arise, as well as helping the executor of an estate to fulfill his obligations during a simple probate proceeding.
Getting Help from An Indianapolis Probate Lawyer
If you have been named as executor of an estate in a loved one’s will, don’t wait to take action. Because the probate process can take a long time, it is best to get started as soon as possible in moving the process forward. Frank & Kraft will work with you to get court paperwork filed, to begin providing notice to interested parties, and to begin the management of estate assets that must pass through probate.
To find out more about how an Indianapolis probate lawyer at our firm can help you, join us for a free seminar today. You can also give us a call at 317-684-1100 or contact us online to get in touch with an attorney who can provide you with personalized advice throughout probate.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
Latest posts by Paul A. Kraft, Estate Planning Attorney (see all)
- If a Beneficiary Dies During Probate What Happens to the Inheritance? - September 18, 2019
- Is Your Power of Attorney Powerless? What to Do When a Third Party Won’t Honor an Agent’s Authority - September 11, 2019
- Are There Different Types of Special Needs Trusts? - September 4, 2019