Probate is the legal process by which a person's debts are paid and assets are distributed upon her or his death. Estate Administration includes the probate process as well as non-probate transfers of the deceased's assets. Individual state laws direct the probate court how to distribute the deceased's estate. State laws and procedures vary greatly, so, it is important to consult a firm with expertise in this area of the law to ensure that the deceased's assets are distributed correctly.
You've had a life filled with good fortune and hard work. As a result, you have property or possessions that can become a gift to your loved ones at the end of your life. Now is the time to plan how your estate will be provided to your heirs.
The Process of Estate Planning
When you call on Newbrough Law Firm, LLP to help with your estate planning, they will invite you to an extended meeting so they can learn about you, your family and how you'd like your estate to pass into the hands of your loved ones. They will also meet or work with your financial advisor and CPA during the complex estate-planning process.
The firm will examine all of your property and research your titles to determine whether or not your ownership is in any way encumbered. At your direction, they prepare the necessary documents that will clearly show who should receive which specific portions of your estate. Their staff will prepare all of the paperwork you've decided upon for your estate, including:
When you die, your assets may be transferred by methods apart from wills, such as joint tenancy property, payable-on-death accounts, transfer-on-death property, and most designation of beneficiaries for life insurance and retirement benefits. Assets that are not accounted for in a will or by one of these other methods will be put through probate court.
All of your assets should have some type of documentation to legally complete any transfers before your death. The lawyers at Newbrough Law Firm, LLP can help you determine the best method for transferring your assets according to your wishes.
When you are ready to discuss your estate with a legal professional, we invite you to contact Newbrough Law Firm, LLP for an initial consultation.
Our firm serves clients in Iowa (IA), including the city of Ames, the Iowa State University community, and the following counties: Story County, Marshall County, Boone County, Hamilton County, and Hardin County.