People often say there are only two certainties in life – death and taxes. Neither of these things are unavoidable. A lot of people think that, once they die, they are safe. Nobody can go after their assets. Whatever property they had will go their loved ones when they die, right? Not necessarily.
When you die, your loved ones will have to open up something called an estate. An estate is really just a total list of your debts and assets. As long as your assets exceed your debts, your family will get something. After the debts are paid, whatever is left will be divided between your heirs. However, there’s always a chance that you’ll owe more than you own when you die. If this is the case, your family may get nothing.
This is why it’s important to have an experienced probate lawyer handle your estate. They can work to negotiate the claims of creditors. They’ll try to get them to accept less than the full amount due. This way, there will be more money left for your family and loved ones. There is also the chance that someone can file a lawsuit against your estate. It doesn’t matter that you’re gone. People can still sue you. And, if they win their case, they may take your entire estate.
The goal is to make sure this doesn’t happen. That’s why your family should talk to an experienced estate or probate lawyer in Abilene, Texas. They can help protect your assets and try to resolve any potential legal issues before they get too big.
Why would Someone File Suit Against Your Estate?
There are all sorts of reasons why somebody would file suit against your estate. Just because you’re gone, that doesn’t mean that your legal problems are gone too. Here are some of the situations in which somebody may file a lawsuit against your estate in Texas:
- You owned a business and your business partner is suing for a share of your assets. Your company may have been exposed to some sort of liability when you were still alive. If you haven’t satisfied this liability before you die, you could be in trouble. Your business partner may file a lawsuit either before you pass away or after you die. This will have to be resolved before your estate is resolved.
- You may have caused a personal injury before you passed away. A good example of this would be a fatal car accident. If you were drunk driving and caused the death of another motorist, they may sue you. If you also pass away during or after the crash, they will have no choice but to file suit against your estate. Your loved one will have to resolve this before anybody gets any of your assets.
- You owed creditors money. Just because you die, that doesn’t mean your debts go away. There may have been banks or credit card companies that filed suit against you while you were still alive. These lawsuits will carry over to your estate. Or, if you owed money when you died, they may file a suit against your estate. If your administrator doesn’t pay the debts owed, they can be charged with avoiding probate.
In any of these situations, your probate attorney in Abilene can help. Your loved ones can contact them and let them deal with the attorneys for the plaintiffs. This way, your family can focus on grieving and moving on with their lives.
Contact a Skilled Probate Attorney in Abilene, Texas
While you’re still alive, you should really talk to an estate attorney in Abilene, Texas. They can help draft a will that achieves what you want it to achieve. They can also help you set up trusts so that some of your assets are protected. The last thing you want to have happen is someone sue your estate and take all of your assets.
If you die without a will or trust, there’s nothing your family can really do to protect your estate assets. If someone files suit for a large amount, it may swallow up whatever assets you do have. To prevent this from happening, call and schedule a consultation with a skilled estate attorney in Abilene sooner rather than later. There is too much at risk to leave it up to chance. Your estate creditors will have lawyers working for them and you should too.