When a relative dies and leaves you his or her estate, you might have little to no idea of how to settle it yourself. You may have to pay taxes out of it. You may also have to determine who should benefit from the estate and who should be excluded from any of its assets.
These matters may fall well beyond your legal capabilities. Instead, you can retain counsel like an experienced probate attorney in Rockford, IL to assist you.
Paying Taxes
The relative who left you his or her estate may have to pay both state and federal taxes out of it. However, you may not know what those amounts are or to whom to direct any funds for this purpose.
The lawyer you hire can find out how much taxes the deceased person owes. Your attorney can also send funds from the estate to the state and IRS to settle any tax obligation.
Finding and Benefiting Heirs
Further, your lawyer can also find out who has a legal claim to the estate and what individuals do not. You avoid having to choose people to give money to and what kinds of assets they should receive. Your legal team can use the state’s probate laws to determine the estate’s rightful heirs.
Learn more about hiring a probate attorney in Rockford, IL for your relative’s estate online. Contact Crosby & Crosby LLP Attorneys at Law by going to their website.
