For each of us, at times in our life, death happens. Whether it’s getting the heart-stopping news that someone we know (and, often, someone we love) has died or even the end of our own lives, each of us will have several experiences with end-of-life issues. While in the gulf of grief generally experienced during this time, we typically begin to evaluate steps that need to be taken to legally deal with property or other issues related to the deceased person. And for some, quickly taking action to settle the estate is a way of trying to resolve grief. Unfortunately, sometimes fast action can produce harmful and unintended consequences.
Noted here are a few important guidelines that survivors should follow to safeguard the estate and their loved one’s interests.
Avoid Rash Decision Making. No matter what, make yourself a simple deal that you won’t make any decisions (or promises) about money or property for the first week or two (or as long as you’re feeling the waves of emotion). Though it may seem obvious, a great many people make promises to family or friends about the deceased’s assets that they feel they can’t back out of once they come to their senses. To avoid regret over hasty decisions regarding giving family members or friends certain assets out of the estate, simply tell anyone who asks that you just want to honor the deceased by keeping the time immediately after his/her death dedicated to their memory and that you are available to talk “business” at a later more appropriate time.
Locate and Secure Important Legal Documents. In a situation where the deceased had executed a Last Will and Testament, if possible, find and secure the original document. If you are the next of kin or person named as the executor of the estate, it’s important you take possession of the documents as soon as possible. If you’re the surviving spouse or child of the deceased, hopefully, you will know where your family member kept his/her documents. If so, take possession and put them in a secure place until you can review them with a qualified attorney.
Don’t Give Away (or Take) Property. Occasionally, surviving family or friends give away or take an item of property of the deceased as a token of their relationship. While it is understandable to want a keepsake (or to be generous and give away such keepsakes), the law is clear that the property of the deceased is estate property and subject to the claims of any creditors. Accordingly, the most sensible route is for everyone to hold off on taking such mementos until the personal representative of the estate is sure that no creditor’s claims exist or that they may be satisfied by other assets.
Consult a Qualified Attorney. Probate law is often more complicated than it appears on the surface. Even in families that genuinely love one another and get along well, conflicts may arise in situations where family members feel that one person is being favored over another or where the parties involved don’t understand the legal requirements of estate administration. To avoid family conflict (or settle conflict) as well as safeguard the estate and parties involved against claims by creditors, you should contact a qualified probate attorney and remember that time is of the essence. If any situation arises where parties involved begin to argue over assets, bringing in a lawyer may help quickly restore peace and resolve the conflict while hopefully maintaining the familial relationship intact.
Do you have more questions regarding the next steps on what you should do after a loved one has passed? Weldy Law, PLLC is here to help, contact our offices to schedule a consultation.
The above blog is for informational purposes only and is not legal advice nor does any information or communication with this website create an attorney-client relationship.