There are many complex aspects to Estate Planning, one of which involves handling the estates of decedents.
When a person dies owning property, someone must take action to pay the decedent’s creditors and transfer the assets to the beneficiaries. This may or may not require proceedings in Probate Court, depending upon how the decedent owned his/her property. The decedent’s estate may need an estate tax return, depending upon the identity of the beneficiaries and how much was owned at death. The beneficiaries of a decedent’s estate may face an income tax consequence, depending upon what types of assets they stand to inherit.
Handling a decedent’s affairs well takes an attorney experienced in these matters. A skilled estate planning lawyer can minimize taxes, resolve disputes, deal with the creditors, and streamline the process.
The Tipp City estate planning attorneys at Lovett & House Co., LPA have the experience and knowledge to effectively assist clients in sorting through all of these issues. Contact us to learn how we can help you through this difficult time.