One of the duties of an estate executor is to distribute the decedent's estate to the heirs, but before that, they need to identify all the debts, liabilities, and potential claims associated with the deceased to avoid any personal liability. Otherwise, they can be held liable for those liabilities and debts.
This is what worries estate executors the most, and one of the most frequently asked questions by them is how they can avoid personal liability.
If you're an acting estate executor and have the same concerns, know that Ledwidge & Associates, P.C., the best real property law firm in NYC, can help you avoid personal liability as an executor. Let’s find out how!
How a Ledwidge & Associates, P.C. Attorney can help You Avoid Personal Liability as an Estate Executor
The Ledwidge & Associates team is comprised of expert Brooklyn probate lawyers who have been providing legal guidance to estate executors for years to avoid personal liability. They assist you throughout the process so that you take the necessary steps and understand the common pitfalls to avoid getting into the liability trap and wrap up the estate hassle-free.
A Brooklyn estate lawyer can help you fulfill your responsibilities in compliance with the law and thus avoid personal liability.
Help You Secure Property
This is the first step an executor has to take to secure the decedent's property, which may include homes, vehicles, bank accounts, boats, etc. Failing to do so may result in property losses which could render the executor personally liable to the heirs.
A Queens Probate lawyer can help you secure the decedent's property smoothly and thus avoid any issues.
Help You Notify Heirs and Creditors
The second essential step an executor must perform is notifying the heirs and creditors adequately about the testator's death to provide the latter with ample opportunity to go after valid estate debts.
As far as the heirs are concerned, the purpose of notifying them is to ensure that the will is valid. Sometimes, heirs challenge the invalidity of the Last Will and Testament by pursuing a will caveat, making ample notice crucial.
Attorneys at Ledwidge & Associates, P.C. ensure you don't miss a step and provide sufficient notice to creditors and heirs.
Help You with Tax Issues, Filing Accounts, and Maintaining Records
The role of an estate executor carries several duties during the estate administration process. Your Queens estate lawyer at Ledwidge& Associates is an expert in dealing with tax matters, filing accountings with the Clerk of Court, compiling a complete inventory of estate assets, and other issues.
With a Brooklyn estate lawyer, you don't have to worry about whether all the debts are paid, accountings are filed, and records are maintained. Your estate lawyer will take care of everything!
All of the above and more are addressed in the estate and probate statutes in New York. Hiring Ledwidge& Associates, P.C., an expert real property law firm in NYC, can help you get through the process seamlessly.
Call +1 718-276-6656 or visit their website for a consultation with one of our experienced Brooklyn probate lawyers!