Preparing all the documents needed as part of estate planning is not enough. When the time comes, someone will have to be responsible for carrying out the wishes of the deceased in a timely manner. This is where help from an Estate Administration Lawyer in Chicago IL will come in handy. Here are a few of the tasks that the lawyer can manage on behalf of the executor of the estate.
Settling Outstanding Debt
Taking care of the debt attached to the estate is one of the first matters to address. Those debts may be in the form of unsecured debt left behind, or could have to do with end of life obligations like medical bills or funeral costs. Whatever the nature of the debt, an Estate Administration Lawyer in Chicago IL can help the executor go through the process of verifying amounts with the creditors and making sure payments are made to settle the accounts. Once the debts are paid, the lawyer can also aid in the process of making sure those accounts are closed and no further charges can accrue.
Arranging for the Sale of Real Estate
If settling the estate will involve selling real estate and allocating the proceeds to one or more beneficiaries, the lawyer can help the executor choose a real estate professional and oversee all the paperwork involved. This can be a great help for someone who has no idea of how to go about filing the proper documents and making sure ownership transfers without any problems. Once the property is sold and the funds are collected, the lawyer can help the executor distribute the funds according to the wishes left by the deceased.
Transfer of Assets to Charities
If the deceased left instructions for certain assets to be donated to specific charities, the lawyer can ensure those transfers are made in a way that is legal and cannot be contested. This important step in the settlement of the estate ensures that those assets continue to provide benefits for something the deceased held dear.
When faced with functioning as an executor, there is no need to feel overwhelmed. Visit Website and arrange to get legal help. Doing so will make settling the estate much easier. You can also visit them on Facebook for more information.
