After-Death Administration: Not a “Do It Yourself” Job

I accidentally overheard two women chatting the other day. One of the women had just lost a loved one, and was completely overwhelmed with the business of handling an estate. She told her friend “it is so hard – they just don’t give us time to grieve”. She shared how she feels paralyzed, and just doesn’t know what to do.
I didn’t feel it was my place to butt in. But this woman’s situation is quite typical. There are many adult children who are forced into handling their recently deceased parent’s affairs, and find the tasks overwhelming. They typically have busy lives, work full-time, and do not know the details of real estate, investments, taxes, and trust law. They must now deal with bills, CPA’s, preparing a house for sale, siblings who may not get along, as well as deal with the emotional loss.
My simple advice (that I kept to myself at the time): save the “do it yourself” stuff for home improvements – NOT LEGAL AND TAX ISSUES. A wrong move can be very costly, and mistakes often cannot be “undone”. Get professional assistance when dealing with after-death administration – consult with an estate lawyer and CPA. You may be surprised at the affordability and efficiency, and it will take a load (and potential liability) off your shoulders. There are many laws, rules, procedures, and other issues that a non-lawyer/non-CPA simply do not know. Handling an estate means getting the right professional help to get the job done – NOT doing it yourself and potentially causing a huge problem and increased tax burden.
For more information, or to schedule an appointment, please contact the McNamara Law Firm at (661) 287-3260, or visit theMcNamaraLawFirm.com.