Collecting Assets After the Probate Process
Guidance from Our Experienced Alameda County Probate Lawyer
If you are entering your golden years or have a sizeable sum of money in
your savings, you may have already drafted your
will. Choosing who your assets will go to and why can be the hardest part of
estate planning. Once this is finalized, your entire family will feel a sense of relief
in knowing that the future has some sort of established guidelines. What
many people do not realize, however, is that just because you allocate
some of your estate to someone, they might not necessarily get it due
to asset collections.
Even if your will manages to avoid a lengthy
probate process, there could be third parties that still have a rightful claim
to some of your property. If you need help with collecting assets after probate,
contact Sargent Law Offices today to begin working with an experienced
Castro Valley probate attorney backed by years of experience and happy
client testimonials.
What Assets Can Be Collected?
It can be frustrating for your loved ones to learn that not everything
you had set aside for them in your will can be seen through to the letter.
While it is important to create your estate plan with a professional to
avoid any mistakes or oversights, even the best laid plans are not always
exempt from certain collections.
Three categories that may ultimately affect how your assets are collected
after your passing include:
-
Taxes: State or federal governments may assume a portion of your wealth through
gift or estate taxes.
-
Family inheritance: Close family members, such as spouses or children, could have a right to
assuming control of portions of your estate, whether you named them in
the will or not.
-
Creditors: Any debts unpaid to creditors after probate can be fulfilled by collecting
assets that had originally avoided probate.
Preparing Your Assets for Probate
One of the best ways to avoid putting your loved ones through any confusion
or trouble after your will goes through probate is to thoroughly prepare
your assets ahead of time with our probate lawyer. With the help of our
firm, you can catalogue the major portions of your estate and determine
what assets will likely be collected after probate. This can establish
what will not remain in your family’s control and may change how
you decide others will inherit your wealth.
Let our Alameda County probate attorney help you review the following large
pieces of your estate with you:
- Homes
- Businesses
- Family heirlooms
- Savings accounts
- Pensions
- Debts
As with many things in life, probate and estate planning all comes down
to the preparation. For years, it has been the goal of Sargent Law Offices
to provide the people of Alameda County with comprehensive and compassionate
legal counsel at competitive rates. We are not here to push you into a
hasty decision; we are here to guide you, step by step, through some of
the most complex legal processes with confidence.
Call (510) 344-2599 today to schedule your free initial consultation
with us.