Our Estate Administration Attorneys in Lexington, KY Help You Manage Your Loved Ones Assets
Most of us experience extraordinary grief and pain at the loss of a loved one. However, it is often the surviving spouse, adult child, or sibling of the decedent who is tasked with the probate of a will or an estate's administration.
Estate administration refers to the overall process by which a person's estate is administered after his or her death until all debts are paid, and properties are distributed to the designated heirs and beneficiaries. At Elder Law Lexington, we understand that administering an estate after a loved one passes can be stressful and challenging for many people. Our attorneys can provide you with the help to lift that burden from your shoulders to the extent that you so desire. Typically, this is paid for by the estate and not by the person we are assisting.
We are By Your Side Through Every Step of Your Probate Process
When a loved one passes away, his or her estate often goes through a court-managed process called probate or estate administration, where the assets of the deceased are managed and distributed. Think of estate administration as a play-by-play process that is completed according to the probate court's guidelines. Probate does not apply only in cases where the decedent left a will. An estate must be administered whether there is a will or not.
At Elder Law Lexington, our attorneys have the knowledge and experience required to counsel executors and personal representatives with respect to fiduciary matters that arise in connection with the probate and estate administration process.
Our Representation in These Matters Includes Guidance for:
- Filing the necessary legal documentation to initiate and then later conclude the probate process
- Handling the payment of the decedent's debts
- Providing the validity of the decedent's will
- Distributing the assets of the estate in accordance with the decedent's wishes
- Preparing and filing the decedent's estate tax return
- Settling estate tax matters, including matters arising in connection with an estate tax audit
Administration is not the same as probate, which is the process by which a will is proved. Administration begins after the probate process is completed, if there is a will, and an executor or administrator is appointed. In Kentucky, for estate administration purposes, both an executor and administrator are referred to as the estate's personal representative.
If Elder Law Lexington is Engaged to Assist You with Estate Administration, We Can Do the Following:
- Quickly alert you to potential and often concealed risks
- Outline immediate and vital steps necessary to preserve estate assets
- Identify trusted resources available
- Answer the myriad of questions that inevitably arise for you and the decedent's other family members
- Handle all of the court pleadings, orders, notices, and certified mail
- Advise you which expenses should or should not be paid, the proper source of payment, and the documentation required for reimbursement
- Advise you on how to minimize potential liability to heirs, creditors, or tax authorities for unauthorized actions or the failure to take required actions
Elder Law Lexington is equipped to coordinate various strategies and planning instruments to manage estate administration properly. Please contact us and put us to work for you and your loved ones.