Law Matters, LLC
Probate
Navigate the Probate Process with Clarity and Support—Avoid Delays, Minimize Costs, and Protect Your Loved Ones’ Interests.
St. Louis Probate Attorney for Families Navigating Complex Estates and Legal Transitions
Law Matters LLC
PROBATE: When people hear the word “probate,” they typically run for cover, and with good reason. As discussed elsewhere, by planning, clients can avoid probate. But sometimes it is unavoidable. We can look at probate from 2 perspectives: during a person’s lifetime and after a person dies. In either case, you have to hire an attorney since the probate court doesn’t allow non-lawyers to handle probate.
Lifetime Probate
Sometimes during a person’s life, they become unable to make financial, residential, or medical decisions. This can be the result of an accident, a stroke, or dementia. When a person is no longer competent, if they don’t have a power of attorney or a medical directive (discussed elsewhere), family or friends can petition to be appointed as their guardian and/or conservator. The guardian is generally in charge of medical and housing matters, and the conservator is in charge of financial matters. In either case, a doctor needs to sign an affidavit stating that the person is not capable of handling these matters. After the petition is filed, the court appoints a “guardian ad litem,” an attorney who represents the alleged incompetent. There is a hearing where the petitioners have to testify. Once appointed, the conservator needs to file an inventory, and both the guardian and conservator must file annual status and accounting reports. All of this is time-consuming and does cost money, but without planning, under certain circumstances, it is necessary.
If you’re faced with any of these situations, let’s talk.
Decedent’s Probate
The second kind of probate is what most people think of when they hear the word “probate.” When a person dies owning assets in his or her own name without any beneficiaries named, the decedent’s assets are frozen. No one can (legally) do anything with a decedent’s bank accounts, investment accounts, real estate, or cars. If there is a will, the law requires the person in possession to file it with the court. If the estate is small (currently under $40,000), family members can hire an attorney to file a small estate affidavit which is a relatively simple process. However, if the estate exceeds that amount, then a full probate is required. Someone will need to be appointed as the decedent’s personal representative. Once appointed, a fiduciary bond is required unless the decedent waived the bond requirement in a valid will. Once appointed, the personal representative then has roughly 30 days to file an inventory. A notice of the probate case is published, and anyone with a claim against the decedent has six months to file a claim or be barred. During the six-month claims period, the personal representative pays the bills he or she approves and usually sells illiquid assets. At the end of the six months, he or she calls for a hearing on any of the bills being challenged, and after that he or she prepares and files for the accounting that the proposed schedule of distribution. Once approved, the personal representative makes distributions and closes the estate. The personal representative is entitled to receive a fee for managing the estate, which is a percentage based on the value of the estate. Attorney fees are also based on the value of the estate and may be more costly depending on the complexity of the estate. Probate estates must be filed by an attorney. Individuals are barred from filing an estate on their own.
As you can see, there are a lot of steps, there are time delays, and there are costs. This can all be avoided with some planning, but sometimes it is necessary.
Call me if you want to talk.
When it comes to estate planning, business law, and real estate law things can get complicated. You don’t need a cookie-cutter approach to law. You can get that online. You need a real person who can look at your situation from all angles, and know the big picture, as well as your specific goals. Plus, you need someone who has experience in all three areas. That’s why you need Law Matters LLC. Law matters to your unique circumstances and needs.
Meet Fred Vilbig
Fred L. Vilbig is an accomplished St. Louis Attorney with over 30 years of expertise in estate and business planning, corporate law, and real estate transactions. Residing in West St. Louis County, Fred actively contributes to his community by serving on civic and nonprofit boards. He brings a wealth of legal knowledge to the table as the Chairman of the Ellisville Board of Adjustment and President of the St. Thomas More Society, the St. Louis Catholic Lawyer’s Association.
Additionally, Fred is a sought-after speaker on legal matters, often lecturing at prestigious universities and delivering continuing education programs for fellow lawyers. His dedication to education extends to his clients, where he enlightens financial planners and CPAs on the implications of the law. Fred is licensed to practice law in Missouri and to present cases to the U.S. Supreme Court.