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A probate attorney is a lawyer that is assigned to help an executor or administrator of a business or estate with the probate process. Most people might not be aware, but such attorneys are available for consultation, and they can even be hired by a business to help it put a business continuation plan in place.
Most business owners do not plan ahead and when they die, their business can also die. This results mostly from poor management and beneficiaries who have no experience in running it. The business can also get exposed to probate, which is expensive and takes a toll on normal business operations.
The main reason why one would need a probate attorney is so that the probate process can be easy on the business owners and take the shortest time possible. Here are some of the ways a probate attorney can be helpful:
The main reason to have a probate attorney is to avoid the probate process. An attorney will advise the business owners on the best way to pass on the business to their beneficiaries without having to go through probate. They are more knowledgeable and will advise on whether to get joint tenancy, living trusts, or transfer on death agreements. These are some ways to avoid probate, and one would not know unless they consult an expert.
Most business owners do not plan ahead and when they die, their business can also die. This results mostly from poor management and beneficiaries who have no experience in running it. The business can also get exposed to probate, which is expensive and takes a toll on normal business operations.
The main reason why one would need a probate attorney is so that the probate process can be easy on the business owners and take the shortest time possible. Here are some of the ways a probate attorney can be helpful:
The main reason to have a probate attorney is to avoid the probate process. An attorney will advise the business owners on the best way to pass on the business to their beneficiaries without having to go through probate. They are more knowledgeable and will advise on whether to get joint tenancy, living trusts, or transfer on death agreements. These are some ways to avoid probate, and one would not know unless they consult an expert.
