Salem, Massachusetts, United States - May 2, 2022 —
Dying without a Will can cost as much as 20 times more to finalize an estate, warned Leading Probate Lawyer Christopher T. Casey this week.
For more information please visit https://www.caseylundreganlaw.com
In an interview, the partner of Casey & Lundregan, P.C., in Salem, MA, said that when someone dies, usually a process called probate takes place, concluding with any assets and belongings being distributed to their chosen beneficiaries.
If someone leaves a will, they name a personal representative tasked to manage the probate process. This includes settling outstanding debts, filing tax returns and distributing assets. A personal representative may seek an estate planning or probate administration attorney to aid them through the legal journey.
However, if someone dies intestate – without leaving a will – then a probate court will settle how the assets are distributed and appoint a personal representative to manage probate.
Casey said fees for probate attorneys and personal representatives vary depending on the level of complication associated with an estate. “However, these fees may increase substantially if a family member contests the will and how these assets should be distributed.
“For instance, if your entire estate is worth over $600,000, your family could be looking at about $30,000 in probate fees, including court filing fees, before the estate is settled. That’s why estate planning is advisable, as the costs involved will be much less than a family fighting it out in court.
“It has been estimated that probate can cost as much as 20 times more than having a well-thought-out estate plan with a will.”
He advised: “A will directs and gives the family a clear idea of how the estate should be distributed. Otherwise, probate costs can spiral and heighten stress and discord among family members who may well be more focused on fighting over the assets than grieving for your loss. Better yet, clients should discuss strategies with us that will help them avoid probate court altogether.”
source: http://RecommendedExperts.biz
Contact Info:
Name: Christopher T. Casey
Email: Send Email
Organization: Casey & Lundregan, P.C.
Address: 71 Washington Street, Salem, MA 01970
Phone: 978-741-3888
Website: https://www.caseylundreganlaw.com
Release ID: 89073573
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