Estate Planning Overview

What is Estate Administration?

Estate administration refers to the process of managing and settling a person’s legal and financial affairs after their death. It encompasses a wide range of tasks including identifying and gathering the deceased’s assets, paying off debts and taxes, and ultimately distributing the assets to the beneficiaries according to the deceased’s will or state law. The process is generally overseen by an executor if there is a will or an administrator if there is no will, but sometimes professionals like estate planning lawyers are hired to ensure a smooth transition.

Key Elements of Estate Administration

Inventory of Assets: One of the first steps in estate administration is the identification and valuation of all the decedent’s assets. This includes real estate, financial accounts, and personal property.
Payment of Debts and Taxes: Before assets can be distributed, the estate must settle any debts, including loans, credit card bills, and funeral expenses. The estate is also responsible for filing tax returns and settling any tax liabilities.
Asset Distribution: After debts and taxes are settled, remaining assets are distributed among beneficiaries either based on the will or according to state intestate laws if there is no will.
Probate Process: If the deceased left behind a will, the probate court would validate it before assets are distributed. If there is no will, the court will oversee the distribution of assets based on state law.

Benefits of Hiring an Estate Planning Lawyer

Expert Guidance
The process of estate administration can be complex and confusing, especially for someone who is not familiar with legal procedures. An estate planning lawyer offers the necessary expertise to guide you through every step of the process, from filing the necessary documents to negotiating with creditors.

Time-Efficiency
Administrating an estate can be time-consuming, especially when you are coping with the emotional trauma of losing a loved one. Lawyers are familiar with the process and can expedite it by swiftly identifying potential pitfalls and avoiding unnecessary delays.

Conflict Resolution
Inheritances can sometimes lead to disputes among family members. Having a lawyer involved can serve as a neutral third party who can help mediate conflicts and offer solutions that are fair to all parties involved.

Comprehensive Planning
A lawyer can also help in the planning stages, advising you on how to minimize estate taxes, avoid probate where possible, and ensure that your assets are distributed according to your wishes.

Legal Compliance
Estate laws vary from state to state, and federal tax laws can also come into play. An estate planning lawyer can help ensure that the administration of the estate is in full compliance with both state and federal laws.

Conclusion
Estate administration involves multiple tasks and obligations, and missing out on any single aspect can lead to complications and legal issues. Hiring an estate planning lawyer not only ensures that the process is executed smoothly and efficiently but also offers the peace of mind that comes from knowing that your loved one’s assets are distributed in a fair and lawful manner. In this complicated journey, the assistance of an expert can prove to be invaluable.

Mr Jeffery Field and his entire staff are dedicated to helping you through the minefield that is the will/trust process, and dealing with . With a background and experience in Law and Finance, Jeff is uniquely qualified to guide you and he has a heart of a teacher which is important to me.

Stephen Montgomery

February 9, 2023

Jeff and his team are professional, but also personable. They relate well to your personal needs. He put together an estate plan for my family, as well as, ensuring my children will avoid child protective services incase of a sudden death of me and my husband. The peace of mind I have in that cannot be replaced.

Lindsey Mayo

July 20, 2022

Char

July 19, 2022

Arturo Vargas

April 18, 2021

Excellent in all categories. I would recommend to anyone who would need an estate planning.

Alicia Schmidt

March 8, 2021

Mr. Field and his entire office were extremely helpful in assisting our family with our trust matters. He is very patient and pays close attention to his clients needs and create a plan that is specific to those matters. Our family is very grateful to the Field law firm. Thank you, The Vargas family

Ernie Vargas

March 4, 2021

The staff and Mr. Field take their time to thoroughly explain the living trust process and guide you through each step needed until completion.

jennifer hathaway

February 22, 2021

I am beyond happy with the level of personalized customer service this office offers. All of my questions were answered and my worries were put to rest; by having contacted the field law office. I’m so happy that now we can rest assured knowing that our future is correctly taken care of in a trust. I loved the way that Mr. Field explained estate planning in layman’s terms. He was interesting and insightful; even when the subject matter is heavy. The entire staff is so helpful & knowledgeable and they never make you feel like you are a bother. Contact them, you won’t regret it!

Oscar C

February 2, 2021

Mr. Field was very responsive and thorough. He answered all our questions in detail and explained our options thoroughly. He and his staff were (and continue to be) very accommodating and professional.

Patty Fernandez

January 28, 2021

The thought of setting up a trust had been daunting for a number of years, but the team at Field Law made it comfortable and I didn't need to have all of the answers to every detail right away. I am so relieved that I finally got it done.

Kathy Lew

December 22, 2020