We know the amount of grief and stress the death of a loved one causes to families. The probate process can add additional stressors to a situation that is already difficult for families. That’s where we can step in. The legal team at Lannom Law LLC can assist families with administering an estate after the death of a loved one.
When a loved one passes away to greener pastures, that individual’s estate is administered by a probate court which distributes the property according to the deceased family member’s Last Will and Testament. If the deceased did not leave a Last Will and Testament, then that individual’s estate will be distributed according to the laws of intestacy in Tennessee.
The probate process can be relatively simple or complex, depending on the size and assets of the estate, whether or not the individual had a Will or Trust, and whether the estate is being contested by a family member.
When the probate process is initiated, an executor or an administrator is appointed by the court. The primary fiduciary duty of an administrator or an executor is to protect the assets and interests of the heirs or beneficiaries of an estate and distribute the estate assets according to the Last Will and Testament or the laws of intestacy.
The duties of an administrator or an executor may also include notifying and settling any debt the estate owes to creditors, notifying any beneficiaries or heirs of their rights that may be affected through the probate process, and maintaining the property of the estate. An administrator or an executor must file an accounting and inventory of the estate unless this duty is waived by a Last Will and Testament or by the court. Furthermore, taxes must be paid and filed as this is another duty of an administrator or an executor.
Serving as an administrator or an executor is a big responsibility and takes a lot of time and care. If any misconduct or negligence occurs along the way, an administrator or an executor can be removed or sued for breach of fiduciary duty.
If you are needing to open probate for your loved one’s estate, the attorneys at Lannom Law LLC can assist you throughout this incredibly stressful process to give you and your family peace of mind knowing it is done correctly and efficiently.
Litigation should always be avoided. This is why implementing an estate plan during an individual’s lifetime is so important. For instance, planning with trusts creates more privacy and control and allows a trustor to carefully plan to avoid estate litigation. However, no one can ever guarantee that litigation simply will not occur. A potential creditor, former spouse, or angry heir could always bring a lawsuit, such as a will contest. There are a variety of grounds on which a cause of action can arise, including lack of capacity, lack of formalities, undue influence, and breach of fiduciary duty. If litigation should occur, you need an attorney familiar with the process.
At Lannom Law LLC, our probate attorneys represent beneficiaries, heirs, trustees, administrators, and executors in estate litigation. Our probate attorneys at Lannom Law LLC have the experience and knowledge to assist you with estate administration. Contact us today to schedule an in-person or virtual conference to ensure the probate process is handled efficiently so that you can have peace of mind.
Lannom Law LLC’s focus on estate planning will allow you to implement a plan that will efficiently solve the worries facing your family and enable financial security and prosperity to pass on to the next generation.
Our attorneys are committed to excellence, and that means assisting you to establish an estate plan that meets your needs and reaches the highest level of advocacy.