Knowing What Not To Do When Someone Dies, Can Help In Those Difficult Moments
New Mexico and Arizona Estate Planning Law Firm
Upon the death of a loved one, it is often difficult for surviving family members to know what steps to take. After the emotions begin to settle down, the first reaction is often to begin thinking about probate and disbursing assets from the estate in accordance with the decedent’s final wishes. Typically, the legal matters fall to the executor named in the will or to a trusted advisor. The attorneys of Morris Hall, PLLC, advise you to slow down and think a moment before you make your first contacts. Yes, it is important to talk to the right people. But it is just as important to know what NOT to do after someone in your family dies.
Protect Yourself by Protecting Your Money
Naturally, your family’s first thoughts will be to protect assets so the surviving spouse or other beneficiaries don’t suffer the loss of their financial position or lifestyle. Your first instinct may be to contact your financial advisor to make changes. But moving investments around without any thought of long-term tax benefits and creditor protections would be ill-advised. That’s why Morris Hall attorneys will work with your financial planner and accountant or with a licensed financial planner from our financial network and a CPA from Morris Hall Accounting. We’ll take a long, hard look at your remaining assets and protect them against creditors and undue taxes.
Protect Yourself From Everyone Who May Have a Claim
It may be surprising to learn how many creditors and other entities will claim a piece of a decedent’s assets. The less you say to banks, creditors and other financial institutions upon death, the better you will be protected. As you are represented by an Morris Hall attorney, you and your family can be assured that the entire death process is being handled correctly and your family’s estate is protected.
Until you have had competent legal, financial and accounting advice, it is best not to disclose details about a loved one’s death or information about the assets. Everything you say about disbursements of assets is grounds for a possible dispute or litigation from people who claim to have an interest. Protect yourself by getting good advice and guidance throughout the entire administration process.
When All Is Said and Done, It Is All About Whom You Trust
In the days and months following the death of a loved one, you are likely to receive unsolicited advice from many people. Some people will mean well; some will not. Every death administration matter is unique. Unless the person giving advice can show years of experience in handling a full range of estate preservation and protection matters, the advice you receive may not be relevant. Worse, it could be inaccurate and cause financial and emotional damage to your family.
Arizona and New Mexico Probate Lawyers
Talk first to an experienced probate law attorney at Morris Hall at one of our convenient offices in Arizona or New Mexico. We focus on keeping your family’s wealth in YOUR family — where it belongs. Contact us to arrange a consultation with an experienced lawyer today. Our offices are located in Phoenix, Tucson, Albuquerque and communities throughout Arizona and New Mexico.
AAEPA • WealthCounsel • AV Rated* • CPAs • Licensed Financial Planners
*Martindale-Hubbell’s AV peer review rating is the highest-rated category an attorney can achieve in the areas of legal skills and ethical standards. AV is a registered certification mark of Reed Elsevier Properties, Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.
