Handling an estate after the loss of a parent can feel overwhelming. And of course, it comes at a time when you are already grieving. If you’re the person that will be the executor of their will, you’ll need to manage the estate process. However, after you’ve dealt with the immediate aftermath of their passing, you can hire an estate attorney to assist you. They’ll help you locate the will of your parents and decide how to proceed from there. Managing the estate can be a lengthy and difficult process, but your attorney will be able to help you manage things.
Dealing with an Estate After the Loss of a Parent: Where Do You Go from Here?
Deal with Immediate Needs
If you’re suddenly handling an estate after the loss of a parent, the first thing you’ll need to do is notifying friends and family members of their passing. You’ll also need to make sure that somebody will take care of their pets if they had any. At least for the time being. Your parents might have instructions in their will regarding their pets. You’ll need to do paperwork with the mortuary or funeral home and then plan their service as well.
Hire an Estate Attorney
After you’ve dealt with the immediate aftermath of losing a parent, you’ll start the next step of handling an estate. The best thing to do is hire a knowledgeable estate or family attorney. They’ll be able to help you organize everything and figure out the exact wishes of your parents. For example, they can help you figure out how to handle assets and debts that your parents might have. An attorney can make the process much less stressful.
Locate the Will
It’s important to locate the will when handling an estate. This is the final wishes of your parents and might include details of how they want you to handle their assets. If somebody dies without making a will, it is referred to as dying intestate. If this is the case the state might decide what happens to their estate. It’s important to make a will so that your family members will know your final wishes when the time comes.
Manage the Estate
After you’ve found the will, the next part of handling an estate is actually managing the estate itself. You’ll need to do an inventory of all the possessions, assets, property, and debts. You might need to pay debts or even liquidate assets. Once all of the debts are paid, then you can distribute assets. The will should guide you on how your parents wanted this to be handled. Your attorney can help you deal with any conflicts that come up at this stage. Finally, after you’ve done all of this, you can close the estate.
Handling an estate after your parent has passed away can feel very stressful. It’s incredibly helpful to have a knowledgeable attorney by your side throughout the entire process. You’ll need to deal with the immediate logistics first like arranging the funeral. However, afterward, you’ll need to find their last will and testament. This will help you decide exactly how to manage their estate. You’ll distribute assets and pay debts, and eventually be able to close the estate. While it can be a difficult time in your life, hopefully, your attorney can assist you with making the process as easy as possible.