Many people have questions about the probate process. Some of the most common questions relate to appointing a fiduciary, when a fiduciary must begin performing his or her duties, and what will happen if a fiduciary does not act in accordance with someone’s wishes. As a result of these questions and many others, individuals often find the probate process to be overwhelming. To help individuals prepare for navigating the probate process, this article will discuss five of the most common mistakes that are made and how to avoid them.
Not Maintaining a Piece of Property
Some executors are unprepared for the significant responsibility that accompanies a house or large piece of land. Even though an executor might have the purest of intentions to make sure that a piece of property is adequately maintained, sometimes executors are overwhelmed and unprepared for such a responsibility. If the property is not adequately maintained, it may decline in value. The best way to avoid this mistake is to make sure that the executor understands the significant duties that come with temporarily holding property for a beneficiary.
Not Keeping Adequate Records
For executors, it is critical to make sure that all elements of the probate process are sufficiently recorded. In a large number of cases, however, executors fail to keep sufficient logs about estate appraisal, personal expenses in maintaining an estate, or tax payments. Poor logs have the potential to greatly extend the length of time that the probate process takes. The best way to avoid this mistake is to adequately record all elements of the probate process.
Lack of Communication Between Beneficiaries
It is common for beneficiaries to feel anxious or uneasy about how the probate process will conclude and what assets will be passed onto them. It is critical that an executor remains in contact with all involved beneficiaries to discuss how to best navigate the probate process. The best way to solve this problem is for an executor to maintain a line of communication with all beneficiaries so that they are aware of how the probate process is proceeding.
Not Obtaining the Assistance of a Skilled Attorney
Not only does probate involve a complex body of laws, the probate process can require a significant amount of time. Seasoned legal counsel can assist in making sure that probate proceeds as smoothly as possible and can greatly reduce how overwhelming the process can seem. A highly skilled attorney can help individuals navigate this process. Seasoned legal counsel has also helped many other individuals in these cases and knows how to avoid potential complications that might arise.
Discover How a Skilled Oklahoma Probate Lawyer can Help
Probate is an important method of planning for a large number of individuals. As a result, it is critical for individuals to create and use probate tools that will accurately reflect their wishes. Because there are numerous laws controlling the probate process, individuals often discover that a skilled attorney can prove particularly helpful in creating strong probate devices. Do not hesitate to contact attorney Attorney Jim Lyon for the probate assistance that you need. The law office of Mr. Lyon can be contacted by calling (405) 843 – 0461 or completing this online form.