If you have been named as an executor of the estate of a particular deceased person, you will want to wind up the estate as efficiently as possible. What better way to do that than with the assistance of an experienced attorney in probate law? However, this does not mean that you cannot do it alone. The following are factors to consider in determining whether you will require hiring a probate lawyer in Salina KS
Transferability of the deceased’s assets outside probate
Some assets are transferable without having to involve a probate court. For instance, if the deceased named beneficiaries of particular assets prior to his/her death, these assets will be transferred without probate. Further, where assets are held in joint tenancy they are devolve through survivorship, thus probate is not necessary. Assets held in trust are also exempted from probate. In such instances, you may be able to go it alone without a lawyer.
The issue of contested will
If one or more of the family members is threatening to contest the will, it is imperative that you consult a probate lawyer. Probate lawsuits can easily drain a lot of resources from the estate in addition to tearing families apart. An attorney may be able to assist you avoid a court battle.
Whether the estate has sufficient funds to pay creditors if any
If the estate has outstanding debts, but the estate is in a position to pay all of them, then you have no reason to worry. However, in the event that the debts exceed the money available to settle them, then you will need to seek legal advice, for state law requires that some creditors be given priority over others.
Complexity of the assets
If the estate is composed of common assets such as houses, cash in the bank, vehicles or household goods, it will be easy to wind it up without legal counsel. However, where the estate includes such complicated assets as businesses, or commercial real estates, it will be necessary to consult an expert to avoid making grave mistakes.
If you are looking for a probate lawyer in Salina KS, look no further. For quality legal representation in family law, personal injury law, employment law, probate law and business law, you can contact Hampton & Royce L.C In addition to Salina KS, they also serve the state of Kansas. For more information, visit Hamptonlaw.com.