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Protecting Your Loved OnesPreserving Your Assets
South Dakota Probate Lawyers
Protect More of Your Family’s Assets
When you pass away, a necessary step in the process of distributing your estate is the probate process. It can be very difficult to understand for both executors and beneficiaries, which is why an attorney can make everything happen much more quickly.
There is some property that can be protected from probate to prevent it from being used to pay off debts or taxes. The South Dakota probate lawyers at Aspen Legacy Planning can help you learn more about how to protect more of your family’s belongings.
Learn more about probate law in South Dakota. Dial (605) 610-4016 now and schedule your no-obligation consultation with Aspen Legacy Planning.
Steps Involved in Probate
If a will is in place at the time of your passing, the executor you named will primarily handle the administration. If there is no will in place, the probate court will have to designate a personal representative to keep track of the estate.
- The property of the deceased person is investigated and cataloged (and cannot yet be sold)
- The estate administrator values all probate assets
- Taxes, bills and outstanding debts are paid
- The property is given to the beneficiaries of the estate
Avoiding Probate in South Dakota
Due to the legal complexities of dealing with probate, many people want to know how they can mitigate or avoid the process. Probate is not required for all assets under South Dakota state law. Certain assets can be distributed directly to beneficiaries outside of the probate process.
Some property that is excluded from probate includes:
- Life insurance policies with a beneficiary already named
- Bank accounts that are already contractually assigned to an individual
- Real estate owned by two people with specific legal rights
- Assets included in a living trust
What isn’t protected in an estate or declared in a will could be subject to probate. The more you can protect from probate, the more likely your estate will be able to serve your loved ones for years to come.
Reach Out to Our Probate Attorneys Today
The probate process can seem very burdensome, which is why it helps to consult a professional who has seen the landscape of estate planning change and grow over the decades.
At Aspen Legacy Planning, Principal Attorney Stephen J. Wesolick uses his 30 years of knowledge in practice to help you develop a probate plan. He can use his knowledge as an estate attorney to save you precious time and reduces future frustration for your loved ones.
Let us help you with the probate process. Reach out to our South Dakota law office today at (605) 610-4016 or by contacting us online.
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