Managing the estate of a deceased friend or loved one can be challenging. There are legal requirements to meet and ramifications for nearly every decision you make. To make it more difficult, you’ll often have to make these decisions while still mourning the loss of your loved one. That’s why it’s important to have Peck Ritchey estate lawyers in Chicago helping you.
Fiduciary Responsibilities
The job of fiduciary or executor often falls to the most trustworthy and honest person the decedent knew. While an honor, it comes with a great deal of responsibility that some people are unprepared to handle. Suddenly you are in charge of making sure the person’s final wishes are honored, will is filed and honored, debts and taxes are paid, obligations are taken care of and every day matters of living are attended to. Oh, and did we mention, you might have to do this under the scrutiny of heirs who don’t think you’re the best person for the job?
It’s for reasons like this that so many executors seek the advice, counsel and guidance of Peck Ritchey estate lawyers. Our estate lawyers in Chicago guide hundreds of executors through the probate process, help them manage wills and trusts and ensure they are performing their duties in compliance with the law every year.
How Peck Ritchey Estate Lawyers In Chicago Can Help
Anyone can be named the executor of an estate. You don’t need to have any special legal knowledge or be particularly good with finances. What you do need is to operate within the confines of the law. Sometimes, people get nervous just thinking about being responsible for someone else’s assets. Others get nervous when they realize there are legal requirements to be met and they don’t know what they are. Still others are too distraught over the loss to feel confident in their ability to make the best decisions.
Peck Ritchey estate lawyers can guide and support you through this maze. Our experience and expertise extends to all aspects of estate planning and administration. We can:
- Guide you through the probate process.
- Appear by your side in court, if need be.
- Assist in the transfer of assets.
- Help resolve claims.
- Ensure the estate plan gets implemented as intended.
- Prepare and file state and federal inheritance tax returns.
- Help you find and identify heirs and manage the estate if there is no will.
- Arrange for the disposition of assets.
- Help you identify individuals, agencies and services that should be notified of the decedent’s passing.
- Keep detailed records of all decisions, actions and transactions made related to the estate.
We will also make sure you’re meeting all of your legal obligations. It is vitally important that you follow the rules of law when fulfilling your fiduciary duties. If you fail to do so, you can open yourself up to personal liability and may find yourself getting sued by heirs or fined by the court or government agencies.
You have an important duty to fulfill. Let the Peck Ritchey estate lawyers in Chicago help you accomplish it. Contact us at (855) 328-5787 to learn more about our estate planning and administration services.