-- Dying without a will can be an expensive decision, according to Cory Lancaster, one of Mississippi’s leading estate planning attorneys.
For more information please visit https://lancasterlaw.net/
When someone passes away with a will in place, they appoint a personal representative or executor who is responsible for navigating the estate through probate. This process includes settling debts, filing any necessary tax returns, and ultimately distributing assets and personal property to the rightful beneficiaries.
Often, a personal representative will seek the assistance of an estate planning or probate administration attorney to help guide them through the legal process.
However, Cory Lancaster, Founder of Lancaster Law Firm, LLC in Tupelo, Mississippi, noted that when someone dies without a will – known as dying intestate – Mississippi’s laws of intestate succession dictate how the estate will be divided.
Lancaster explained: “In these cases, the probate court will appoint someone to manage the administration and determine how the assets will be distributed. The court’s decision may not reflect the decedent’s personal wishes regarding who should handle the estate.”
Lancaster added that legal and administrative fees can vary significantly, depending on how complex the estate is.
“These expenses can increase dramatically if a family member contests the will or disputes how the assets should be divided.”
“For this reason, proactive estate planning is critical. It generally costs far less than having family members battle in court over control of assets. Probate expenses can be as much as ten times higher than the cost of establishing a thoughtful estate plan and will.”
Lancaster concluded: “A will provides clarity and direction, helping families understand how the estate should be distributed. Without one, probate expenses can escalate, adding stress and conflict at a time when loved ones should be focused on healing and remembering.”
“Anyone considering estate planning should consult with a qualified estate planning attorney to explore strategies that may help them minimize or even avoid probate court altogether.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Cory Lancaster
Email: Send Email
Organization: Lancaster Law Firm, LLC
Address: 363 N. Green Street, Tupelo, MS, 38804 USA
Phone: (662) 823-2679
Website: https://lancasterlaw.net/
Release ID: 89176903
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