Administering someone’s estate can be daunting. Our local probate attorney is here to assist you – from managing probate procedures and going over creditor claims to helping with digital assets. We make sure that the decedent’s wishes are respected and that the beneficiaries receive their designated inheritances. A Coral Gables estate administration lawyer knows that clear communication and regular updates to estate planning documents are necessary to avoid legal disputes and a lengthy probate process.
Estate administration is an important procedure that allows for distributing and managing the decedent’s assets following the will. If there is no will left behind, then the estate is managed according to Florida intestate state laws.
“Probate” refers to the legal process where the decedent’s will is validated and then their assets are divided. The will must be filed with the local probate court, after which the creditors and beneficiaries are notified, and an inventory is taken of all the assets. Once the debts are paid to the creditors, the remaining assets are distributed among the beneficiaries. An estate administration lawyer who is local to Coral Gables understands that the probate process can be complicated, and it is important to have a knowledgeable counselor at one’s side in order to avoid disputes and delays.
The personal representative (also called an executor ) manages the decedent’s estate. This may require gathering assets, paying both debts and taxes, and distributing the remaining assets between the beneficiaries. Estate administration attorneys assist the personal representative by making sure they comply with state law, helping the representative understand their fiduciary duties, and assisting in filing the appropriate documents with the probate court.
Estate administration also deals with creditor claims. Once a person passes away, creditors are notified of the death and are given the chance to file claims against the estate. The personal representative, with the assistance of an estate administration attorney, must look over the claims and make sure that they are valid.
Estate administration can be complicated because it involves looking for and evaluating assets. One also must deal with complex family structures, and looking over ongoing business interests. Areas of the law such as business ownership, real estate holdings, and business investments can complicate the administration process.
Real estate holdings involve appraisals, maintenance, and the selling of properties to satisfy a debt. If the deceased was a business owner, estate administration deals with the continued operation or sale of the business. If the business is sold, it must be valuated, and any business agreements must be addressed. Business administration may involve business appraisers and the negotiation of buy-sell agreements.
If a decedent passed away with intellectual property rights, a Coral Gables estate administration attorney addresses the fair distribution of such property among the beneficiaries. Intellectual property rights can include patents, copyrights, and trademarks.
Estate administration involves different types of responsibilities requiring careful review to ensure a smooth and efficient process. At Veliz & Associates P.A., our Coral Gables estate administration lawyers assist in navigating probate procedures, addressing tax concerns, managing creditors, and distribution of assets.
We evaluate your case and determine how we might be able to help.
We will meet with you to discuss your next options and lay out a plan.
Our team guides you throughout the process so you feel confident about your choices.