Is your family dealing with the inheritance of a potentially large estate? This is a time when the worst traits can come out in people, even family members who love each other. How can you avoid unnecessary conflicts? Hire this team to help you out.
Few people are familiar with the work of a forensic accountant. A forensic accountant is trained to go over financial documents and find out what exists and what does not. The forensic accountant will confirm the real value of the estate and ensure that no money is hidden from any heirs or the government. They can provide an accurate, objective accounting that everyone involved can easily understand. This reassurance often calms anxious or suspicious family members and helps the executor do their job.
A regular accountant is good for any heirs expecting assets from an estate. If you and your fellow heirs can hire one to guide you through the process, everyone benefits. An accountant with experience dealing with estates and wills can help determine the real value of assets in the estate, calculate tax burdens, aid in tax planning, and interpret the deceased person's instructions into reality.
An attorney protects all the heirs and provides an objective third party, which can help settle conflicts. Even a smaller estate benefits from an attorney on its payroll, since they can help with transferring assets, including assets that must go through probate. They can also help the executor understand and faithfully carry out their duties, or even serve as an objective executor themselves. And if the various heirs have no attorney of their own, the estate attorney may even be able to guide them in managing their inheritances.
If you're still having (or expecting to have) disputes between heirs that aren't clearly resolved by the will or estate instructions, a mediator can be the best answer for all. Mediation is much less stressful than a full-blown court case, and its goal is to achieve a solution beneficial to everyone. Mediation involves a professional who guides all the parties in conflict in coming up with a solution that meets their needs. It may help preserve family relationships that could be destroyed over legal action.
An estate should not cause irreparable conflict among family and friends. By having these professionals on board, you can help ensure that it won't. For more information, contact an accountant such as Joseph Hanlon CPA.