The job of an estate and probate lawyer serves nearly the same purpose, and both strive to secure the assets. They tackle asset-related matters’ distribution, allocation, and execution, leaving no space for any mistake. Although it may seem that the job of a probate lawyer overlaps with the role of a probate lawyer, they are different in many ways,
In this blog, we will elaborate on the core duties of a probate and estate lawyer and determine the differences between their roles.
What is the Probate Process?
A probate is a judicial process where the probate court reviews the will of a deceased to fulfill the directives written in it. Either a relative or the court hires a probate lawyer and assigns him the duty to execute the will per the directives mentioned in the will. The role of a probate lawyer is to make sure that the will is authenticated and legalized to be presented in court.
Duties of a Probate Lawyer
A probate lawyer is responsible for carrying out the following responsibilities.
- Life insurance plan collection and management
- Locating the assets mentioned in the will
- Authentication of will and assets
- Advises on how to pay off any debts of the decedent
- Document preparation for court hearings
- Managing estate checkbooks
What is Estate Planning?
Estate planning is similar to will drafting, but the asset-owner is alive when the estate is planned. Estate planning deals with preparing one’s assets and arrangements before passing away. Anyone with substantial savings can opt for estate planning. Everything of monetary value that you own can be turned into your estate, so there is no right time to start your estate planning.
Duties of an Estate Lawyer
An estate lawyer is responsible for carrying out the following functions:
- Executing the deceased’s personal and financial matters as per the will
- Naming the beneficiaries along with their due shares, if applicable.
- Advises and guides clients
- Dealing with accounting and taxes payment
- Helping in the final distribution of the assets
Estate Lawyers Vs. Probate Lawyers
A relatively convenient way to think of differences between an estate and probate lawyer is to think it in terms of before and after. An estate lawyer ensures the proper planning for asset distribution within the lifetime of the asset owner.
In contrast, a probate lawyer activates their operation only when someone passes away. In addition, estate planning gives people more time and space to think through asset distribution, whereas the will execution doesn’t spare much time to the involved parties.
If you’re looking to hire experienced long island probate lawyer, consider us at the Joseph A. Ledwidge, P.C. We offer legal services focused on the probate process, estate planning, and family law services. Our estate planner Queens, probate attorney nyc, and divorce attorneys will make legal dealings easy for you and your loved ones. For more information, reach out to us.
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