An inheritance planning attorney provides help to those who wish to make a comprehensive plan for their loved ones to inherit, as well as providing representation to an executor of an estate and heirs or beneficiaries after a death. Understanding what happens after someone passes away — and what role an executor of an estate must play — is very important to all those who are involved in the estate planning process or who are coping with the loss of a loved one.
The Law Office of Michael Robinson, P.C. is here and ready to provide the help and support you need. We can work with you to create an estate plan that ensures your wealth is protected and that your heirs or beneficiaries receive their funds as quickly as possible. We can also help executors to know that they are fulfilling their duties so the wealth a deceased person has left behind will be protected.
Key Things Executors Need to Know About Managing Estate Assets
Choosing the right executor of an estate is key to the inheritance planning process because the executor of an estate is the person who will be in charge of managing the assets in the estate during the probate process. It takes time for money and property to pass on to new owners after someone has passed away and during this time period, the value of assets could be reduced and part of an inheritance could end up lost in circumstances where the wrong executor is chosen and assets are mismanaged.
Those creating an estate plan should work with an attorney to understand what executors do during probate so the right person can be chosen to do the job. Anyone who has been named as executor of an estate should also work with an experienced attorney at The Law Office of Michael Robinson, P.C. to get help fulfilling responsibilities related to assets.
Executors have many obligations, including making a complete accounting of estate assets, tracking down missing assets that should be part of the estate, collecting on any outstanding debts that are owed to the estate, and making sure that estate assets do not experience losses due to neglect. Executors may need to pay bills on a mortgage on estate assets, for example, or may need to ensure that investments are sold when necessary and appropriate.
If an executor is negligent in fulfilling his or her responsibilities or if an executor enriches himself or herself at the expense of the estate, heirs or beneficiaries could potentially pursue a claim against the executor for breach of fiduciary duty. As a result, it is important not only for the executor to understand his responsibilities and get help from an attorney to fulfill them, but also for those who stand to inherit to have representation to ensure that the executor of an estate s properly fulfilling his role.
Getting Help from an Inheritance Planning Attorney
An inheritance plan attorney at The Law Office of Michael Robinson, P.C. can provide the personalized help and advice that you need to make sure you manage an estate effectively and efficiently if you have been named as executor of an estate. We can help to ensure that an inheritance is protected for heirs or beneficiaries, and we can also provide assistance to those making an estate plan and to those who stand to inherit.
To find out more about the ways in which our firm can help you, join us for a free seminar. You can also give us a call at 585-374-5210 or contact us online to get started on your personalized plan to protect an inheritance you wish to leave for loved ones or an inheritance that you have been placed in charge of managing as the executor of an estate.