Avoid these 4 Critical Errors During the Probate Process

probate process errors to avoid

The death of a loved one is an extremely difficult time to navigate, and the complexities of the probate process can make it even more frustrating. For those who have been entrusted with carrying out the duties of an executor, the job can feel overwhelming – and for good reason. There are many legal requirements, deadlines to follow and responsibilities when it comes to properly settling an estate. There are plenty of opportunities where things can go wrong, but understanding how to avoid some of the most common mistakes people make can help the probate process go more smoothly.

Responsibilities During the Probate Process

Probate is the legal process of administering a person’s estate following their death. The executor’s responsibilities can include:

  • Filing the will
  • Notifying the beneficiaries
  • Filing inventories
  • Closing the affairs of the decedent
  • Paying certain claims
  • Filing tax returns
  • Paying final income taxes
  • Paying any estate taxes that are due

Common Errors that can Make the Probate Process More Difficult

There are a lot of moving pieces throughout the probate process, and any mistakes along the way can lead to delays, added expenses and family conflicts. Here are some of the most common and costly errors that families encounter.

  1. Delaying the Start of the Probate Process: the grief after the loss of a loved one may understandably cause some delays in making decisions. Unfortunately, probate is not a process you can complete entirely on your own schedule, and waiting too long can have serious consequences. Delays in the probate process can lead to missing important deadlines, can allow unpaid debts to continue to accrue interest, and can cause family members to become anxious or even suspicious. Opening probate in a timely manner protects the estate while also reassuring beneficiaries that matters are being handled responsibly.
  2. Not Managing Estate Assets and Debts Properly: before an estate can be settled, debts and taxes must be paid and property and other assets must be sold. This requires developing the right strategy in terms of properly valuing items like jewelry and real estate with professional appraisals, meeting tax deadlines, keeping estate funds separate from personal funds, properly tracking all transactions, and never distributing any assets until they are legally allowed to do so.
  3. Not Handling Family Dynamics Properly: the probate process requires more than just meeting legal responsibilities. There are real people and emotions involved, so proper communication is just as important. Families going through this difficult time can quickly find themselves in bitter disputes which can lead to added litigation and costs. Executors should always do their best to keep beneficiaries updated through each step, which will help family members trust that they are lawfully and fairly carrying out their duties.
  4. Not Seeking Legal Assistance Immediately: the probate process is complex and is not something anyone should try to manage without experienced professional legal guidance. The legal implications of mismanaging an estate are great, and an executor can be held financially liable for any errors in judgement. The estate attorneys at Churchill, Quinn, Hamilton & Van Donselaar, Ltd. can help:
  •  File the necessary paperwork with the court.  First, we can help you file the necessary documentation, such as the will, the inventory of assets, and the petition for probate.
  • Track down assets and debts.  This can be a complex process, especially if the deceased person owned assets in multiple states or countries.
  • Pay off debts and taxes.  We can provide assistance in paying off the debts of the deceased person, such as funeral expenses, medical bills, and taxes.
  • Distribute assets to beneficiaries.  Another of our roles is to help ensure that the estate assets are legally distributed to the beneficiaries in accordance with the will.
  • Negotiate with creditors: If the deceased person owed money to creditors, we can help you negotiate with the creditors to get the best possible terms for the estate.
  • Mediate disputes among beneficiaries: Unfortunately, disputes among beneficiaries can be common. We have experience managing these challenging family relationships and can help make this process easier.
  • Contest a will: If someone challenges the validity of the will, our experienced team can help to ensure that the initial wishes are carried out.
  • Appeal a court decision: If you are not satisfied with a court decision, we can help you appeal the decision.

Contact our office at 847-223-1500 to schedule a consultation and discuss the next steps for your loved one’s estate.