How to Avoid Personal Liability for Business Acts
14 - March - 2019
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Probate is the legal process required to wrap up the financial affairs of a person after the person’s death, which includes aspects such as finalizing the distribution of the person’s assets and ensuring that final tax filings are made.
If the deceased person has a will, typically the will specifies who is to serve as the personal representative of the person’s estate. If the person dies intestate (without a will), an administrator must be appointed by the court. In either case, the personal representative or administrator will have the role of ensuring that all aspects concerning the financial affairs of the deceased person are properly undertaken.
As Indiana probate lawyers, we assist personal representatives and administrators in the process of fulfilling their duties. We meet with personal representatives and administrators, review the wills and trusts in question, and advise them as to what actions need to be undertaken in the course of the probate process. If there is no will, then we work with administrators to advise on the process of identifying property in the estate so that the same may be distributed in accordance with Indiana statutes after all debts have been paid. We also prepare necessary filings that need to be made with the court.
Often questions arise in the course of probate. For instance, a will may direct the personal representative to sell a home and distribute the assets among the surviving children. In some cases, one of the children may wish to purchase the home. The personal representative may ask us whether this can be done, and if so, how best to effectuate the sale so that he or she properly complies with his or her fiduciary obligations.
We understand and appreciate that you may have never served in the capacity of a personal representative or administrator. We know that you will likely have many questions concerning the probate process. We are available to help you throughout this process by providing legal advice, answering questions, and helping ensure that no aspects are inadvertently missed.
If you have been named as a personal representative, or if you are interested in becoming an administrator for the estate of a deceased loved one, please call our office. We can meet with you and explain how the probate process works, and your role in the probate process as a personal representative or administrator.