Probate and estate administration involve managing assets other than your own. It may be for a person who has died or to assist a person who is living but no longer able to handle their own finances.
At Promise Law, our probate and estate administration attorneys have extensive experience advising individuals and families with a wide range of complex legal issues. Among other things, these include regarding, probate law, trust administration, conservatorship administration, and agency law.
If you need help with Virginia probate law or estate administration, it is imperative that you take immediate action. These types of cases are always time-sensitive. To set up a strictly private consultation with our Virginia probate law and estate administration lawyers, please contact us today.
Probate is the court-supervised process of settling a deceased person’s final affairs. Whether the person leaves a will or not, the court appointed administrator is responsible for identifying and securing assets to pay the deceased person’s creditors and then for distributing any remaining assets to the beneficiaries. Handling the estate is a big responsibility and an administrator can be financially liable for errors. They’re also required to file an inventory with the court and accountings until the estate is closed. The passing of a loved one is difficult enough that the probate process following their death can easily become an overwhelming burden.
In Virginia, probate is a complex legal process. Our probate attorneys have the skills and legal knowledge needed to handle all types of probate law issues. Whether you are dealing with a multi-million dollar estate, or simply deciding whether or not probate is necessary, Promise Law can help your family through the entire process. We will ensure that you understand your rights and obligations. Give Promise Law a call at 757-690-2470 or click here to contact us online.
If you’re managing someone else’s assets, whether you realize it or not, you’re an estate administrator. Perhaps you’re a successor trustee for a deceased loved one’s trust, or agent of an incapacitated friend or maybe you’re a conservator for an elderly relative. Regardless of the exact title, you’ve got an obligation to handle things with care, keep good records of your actions and more. You might even be required to report to the court in a manner similar to probate.
Administering an estate can be challenging. There are a number of different rules and specialized procedures that must be followed, and not all of them are intuitive or obvious. The failure to handle the administration of an estate in the proper manner can lead to some major problems.
At Promise Law, our Virginia estate administration attorneys help our clients navigate the estate administration process in an efficient and effective manner. We make sure that all of our clients’ responsibilities and obligations are clear, so that all documents can be filed in an accurate and timely manner and the proper steps taken at the right time.. Some specific aspects of estate administration that we handle in Virginia include:
1. Trust Administration: Trust administration involves the management of assets on behalf of a person who created the trust. Depending on the specific circumstances, the original trust creator may be alive or they may be deceased. Trustees have a number of different duties and ethical obligations, including the collection, management, investment, and distribution of assets that are held within the trust. Among other things, trust administrators must prepare accountings and convey other important information to beneficiaries. Being a trustee is a big responsibility and not every duty is written into the trust document. At Promise Law, our Virginia trust administration lawyers give guidance on what exactly trust administrators need to do to comply with their obligations.
2. Conservatorship Administration: This occurs when the court appoints someone as a conservator to manage the assets of another person who is mentally incapacitated. Conservatorship administration can be deeply complicated. Under Virginia state law, conservators have a legal obligation to an initial inventory and annual accountings for all financial activity. At Promise Law, our Virginia conservatorship administration lawyers advise conservators on their rights and responsibilities under state law.In some cases, it may be necessary to get clarification and authority from the court to handle unusual circumstances, like division or marital property or use of the incapacitated person’s funds to support their children. We also assist with the preparation of the inventories.
3. Agent Administration: If you are acting as an “agent” under the power of attorney granted by another party, it is crucial that you have a basic understanding of your authority to act and responsibilities. Our Virginia agent administration attorneys represent clients in a wide range of issues.We can advise you on what the powers granted to you actually mean, and if you run into issues using the power of attorney we can try to get the powers granted to you expanded or modified through a court petition. In all instances we will make sure that you are in full compliance with all of your fiduciary requirements set forth by Virginia law.
Speak To Our Virginia Probate & Estate Administration Attorneys
At Promise Law, our experienced Virginia probate and estate administration attorneys are professional and attentive advocates for our clients. Knowing what you may or must do can be confusing and stressful, but our legal team can help. To arrange a strictly confidential initial consultation. Give us a call at 757-690-2470 or contact us online. We serve clients throughout Hampton Roads.