Preneed Guardian. An adult with a capacity might select the person to serve as a guardian way in advance, so that they have a person that can do the task when they become incapacitated in the future. This is usually done in writing, preferably in a will. The individual will express the decision and sign it in front of two witnesses present at the same time. Emergency Temporary Guardian. If a person is in immediate danger and needs guardianship, then the court can come up with a temporary emergency guardianship for them. One such situation is when the person’s individual property is in danger of getting lost or wasted. Limited Guardian. This s where the individual is partially incapacitated and has the ability to make some decisions, but not all. The guardian has the capacity to take only specific actions that are decided by the probate court. For the guardianship process to run smoothly, you have to start somewhere, just like any other legal process that you have ever performed. Many people don’t have the knowledge to begin the process, and this makes it hard for them. Let us look at the process that you need to go through to make the guardianship not just complete, but a success as well. Before you file the forms for legal guardianship, you need to have the following information as well as documents: The names and contacts of the living relatives of the person. These can be the parents (if any are surviving), the grandparents both on the maternal and paternal side, any siblings, any legal guardian and the adult with whom the person is living with. If either of the parents is deceased, then you need to provide copies of the death certificates. If you don’t have the copies of the death certificates, you can get them in the state where the parents passed away. If you are after the guardianship because you have been named as a guardian in the will after a person died, then you will need a copy of the will. If you are to be a guardian to the estate, then you need to have copies of documents that relate to the person or the ones that the person needs to inherit. These include bank accounts, life insurance policies and real estate. You need to have copies of court documents that relate to the person. These include Read more [...]
Place Category: Attorneys
Probate is a process which validates and pronounces Last Will and Testament of Individual as valid and effective for purposes of estate administration and asset distribution.
If you have had a loved one pass away recently, you may have found that their Will has to pass through probate court before debts of the decedent ?may be paid and the remaining assets of the decedent may be distributed to the beneficiaries. Depending on the size and complexity of the estate itself, this process can take anywhere from few weeks to several years. If you are a beneficiary of the estate, or involved in it in any other way, it is important to understand what to expect and to have the help you need.
Probate process includes several steps. This will provide you with an outline of what to expect while this event is taking place.
Petition – When an original Will of the decedent is discovered by the surviving spouse or children, the probate process will begin by filing a probate petition with the probate court. When this occurs, all heirs and beneficiaries must also be notified that a court hearing will take place. If at a later point later Will is discovered by someone else or if there are allegations of the fraudulent activity, the actual Will or a Will produced under undue influence, the objection to probate will be filed with the court and this will lead to a hearing.
Notifying Creditors – New York has laws on how creditors are notified of the decedent’s death and how such creditors must go about presenting claims to the executor. The estate fiduciary has an obligation to dispute all claims, except properly owed, legally enforceable obligations.
Inventory & Valuation – All assets within the estate need to be identified and their value must be established using prescribed methods of valuation. This will be handled by the representative of the estate, Executor or Administrator.
Distribution of Assets – Once all debts have been paid, all remaining assets will be distributed to the beneficiaries of the estate or trusts will be funded. This is done according to the provisions of the Will or Revocable Trust, if there is one.
There are many tax elections that may be made by the executor in order to take advantage of various deductions and =credits available to the estate.
Once everything has been distributed, the probate process is over and the estate is closed.