If you
are thinking about a will or have been appointed as executor in an estate,
you may be confused or worried about what steps to take next:
• Do I need a will and what happens to my assets if I die without a will?
• What is the difference between a will and a living will?
• Why should I have a power of attorney and what does that person do?
• Does the estate of my loved one need to be probated?
• How much does it cost and how long does it take to probate an estate?
Probate is the court action by which assets are transferred
to heirs after a death according to the deceased's will or according to
state law if no will was left. A full probate action can be costly and
time consuming. Fees must be paid to the executor or administrator, and
to the attorney representing the estate. Asset will not generally be distributed
to heirs for six to twelve months, and complicated estates involve much
longer delays.
Planning before death may allow a court probate action to
be avoided. First, a living trust can be considered. This document provides
for the transfer of assets directly to beneficiaries under the trust,
without any court action. Second, a will with a minor's trust can be considered
for small estates, with the thought of utilizing summary probate proceedings
after death. Third, changes in the way you hold "title to property"
may be considered, which would allow you to avoid having to include your
real property in a probate action. Our office offers complete Wills, Estate
Planning and Probate services along with various other services.
For more information on whether probate can be avoided in
your particular situation, please contact our office.
The Wills, Estate Planning and Probate attorneys at Walker & Billingsley are dedicated to protecting the rights of Iowans throughout the State of Iowa. With offices in Des Moines and Newton we are located in Central Iowa, but represent clients throughout the state.
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