Probate
When a person passes away without an estate plan of any kind, or even if he or she had a Last Will and Testament, estate assets must go through a government-controlled process known as Probate before they can be distributed to loved ones.
Probate is typically a frustrating, time-consuming and needlessly expensive process. It is also open to the public. At Borkus Law Group, Ltd., we design and implement customized estate plans that allow individuals and families to avoid the probate process entirely.
In the cases were a family finds itself facing probate, we assist families in navigating the probate. We do so with compassion for the loss you have suffered and strive to make the process as streamlined as possible.
Many people wonder what is required to probate an estate. While every situation is different, a “typical” probate involves all of the following:
- Filing a petition with the probate court
- Notice to heirs named in the Will or, if there is no Will, to statutory heirs
- Petition to appoint an Executor (if there is a Will) or an Administrator
- Inventory and appraisal of all assets
- Payment of estate debt to creditors
- Sale or transfer of estate assets
- Payment of taxes
- Final distribution of assets to heirs
If you are facing the difficult prospect of probating an estate, our firm can guide you through the process compassionately and efficiently.
You are not alone—contact us today for a personal meeting.
Trust Administration
The loss of a loved one is difficult enough without the stress of making important financial decisions about the decedent’s estate that can dramatically impact you and your family for years to come. If you have been called upon to oversee the administration of an estate, and the trust work, you are most likely wondering what is involved.
It is important to note that some estates and trusts can be considerably more complicated. During this difficult time, you are likely feeling overwhelmed by all the responsibilities and grief. There could also be confusion over which beneficiaries are entitled to certain assets.
Unfortunately, all of this can lead to litigation, family infighting, costly delays in the transfer of assets, and even devastating financial consequences.
At BorkusLaw Group, Ltd., we can work with you to resolve any outstanding debts and expenses; distribute assets to the proper beneficiaries as quickly and efficiently as possible; minimize estate taxes; administer trusts in conjunction with your family’s existing advisors and fiduciaries; and help you avoid the types of mistakes that can leave you subject to personal financial liability.
You do not have to go through this process alone. We are here to assist you every step of the way. Contact us today for a personal consultation.
