When a person acts as the executor of a family member’s estate plan, it can often be a challenging and daunting task. To avoid a number of expenses, many people who are administering the estate will attempt to handle the entire process themselves without the help of an attorney. While this may be possible in some situations, Probate Laws in Chicago can be difficult and complex, which is why hiring a lawyer can be beneficial. Some of the specific situations where the services of an attorney can be helpful are highlighted here.
Family Members that Can’t Agree
An issue that can quickly escalate, and that may derail the entire process of estate administration, is discord among family members. Those who are not happy with the estate administration process may start a will contest. This can drain quite a bit of money from the estate and cause a rather large disagreement between family members. The Probate Laws in Chicago have to be evaluated carefully to see who is right in the situation. As a result, it can be beneficial to hire an attorney.
The Estate is Unable to Pay the Outstanding Debts
If there is enough money in the estate to handle the outstanding debts, the majority of non-professional executors will have the ability to satisfy the bills without issue. However, if there are not enough assets in the estate to pay all of the debts, then someone will have to determine what debts should be paid and the proper way to handle the rest. It is wise for non-professional executors to seek legal guidance prior to determining what debts to pay off since the law provides certain priority to some creditors. If these laws are not adhered to, serious issues with the estate can arise.
Don’t underestimate the issues that can arise when trying to settle a loved one’s estate. In most cases, it just makes sense to hire an attorney. Those who need more information and want to know what type of services a lawyer offers can contact the staff at Starr Bejgiert Zink & Rowells. This will help ensure they have all the needed information to handle the estate.