Assisting Beneficiaries and Families Across Southern California With Inheritance Matters

The loss of a loved one is never easy. The death of someone close means time for grief, coming together with family and friends, and fondly remembering those we hold dear. Sometimes, this sense of loss may be complicated by an inheritance. It is not uncommon for loved ones to learn either at a will reading or from an attorney, that the deceased has left them a considerable inheritance in the form of money, property, vehicles, or other valuable belongings. In many cases, this knowledge can be jarring.

Most people do not know how to respond to the dual revelation that a loved one has both died and left them a considerable sum of material wealth. This is why, if you or a loved one has recently received an inheritance, it’s vital you consult an experienced inheritance attorney in Kern County. A knowledgeable attorney can help you navigate the often challenging experience and allow you to focus on what matters most.

Why Do I Need an Attorney to Receive an Inheritance?

You do not technically need an attorney to receive an inheritance. Anyone can be the recipient of a bequest from a deceased person. However, while an attorney may not be legally required, hiring one is vital.

Receiving an inheritance can lead to a variety of legal complications, including but not necessarily limited to:

• Challenges to the Will
• Estate Taxes
• Unpaid Debt
• Asset Distribution
• Financial Concerns

In some instances, a friend or family member of the deceased may challenge your inheritance. They may claim the will is invalid, or that the deceased was somehow pressured into bequeathing you an inheritance. Challenges to wills are common when large amounts of money or sizable inheritances are involved. Most people who challenge a will do so after hiring their own attorney. Having your own inheritance lawyer can prevent this from happening. If someone does decide to move forward with a challenge to the will, your attorney can already be in place to handle the dispute.

Will I Get to Keep All of My Inheritance?

Another reason an inheritance attorney is vital is to make sure you are not responsible for paying any of the deceased’s debts. Many people believe that, if a person dies, their debts are wiped clean. This is not necessarily true. Certain debts, such as taxes and money owed from lawsuits, must be settled out of the deceased’s estate. In some cases, you may be required to use some or all of your inheritance to settle these debts. An experienced inheritance attorney can help you determine if you are responsible for these debts or if you may be able to avoid paying them.

You may also be responsible for paying an estate tax. Estate taxes are also called death taxes. These are final taxes levied on estates worth a certain amount. Although California does not have a state estate tax, the deceased is still subject to the federal estate tax. Depending on certain circumstances, you may be responsible for paying some or all of this amount from your inheritance. Failure to pay estate taxes can result in serious legal repercussions. This is why it’s vital to consult an inheritance attorney.

What is Asset Distribution?

Asset distribution is the process of dispersing money, property, and other goods in accordance with a person’s will. In some instances, an individual may bequeath some or all of their estate to one person with the understanding that person will distribute assets accordingly. This may be a time-consuming and challenging process, especially if some of the benefactors live in other states or even other countries.

In some instances, the deceased may not have corresponded with their intended beneficiary for years, and it may require legal work to track them down. Under such circumstances, an inheritance attorney is imperative. An inheritance attorney can also help if there are challenges to the will regarding asset distribution. For example, someone may not challenge the validity of an entire will, but might dispute the fate of one or more prized possessions. An inheritance attorney can assess any potentially valid legal claims and help you move forward.

Why Do I Need an Inheritance Attorney for Financial Concerns?

Depending on your inheritance, your financial situation could change overnight. Receiving tens or even hundreds of thousands of dollars can radically change a person’s life. Even a few thousand dollars may allow a person to make major financial decisions they have otherwise been putting off. Many people struggle with how to handle the sudden influx of a large sum of money. Depending on how much you receive, you may be required to pay certain taxes or file certain documentation. An inheritance attorney can work with you on financial planning and also ensure you obey all necessary inheritance laws to avoid issues with the IRS or other government entities.

What Should I Do if I Receive an Inheritance?

No amount of money or personal possessions can make up for the loss of a loved one. Many people hope to improve their friends’ and families’ futures by leaving them an inheritance. Although receiving an inheritance may prove a positive change for many people, it can come with a variety of legal challenges. People are often not in the best place to make major financial decisions immediately after losing a loved one. This is why if you or a loved one recently received an inheritance, you must contact the Law Offices of Robert H. Brumfield, P.C. today.

Robert H. Brumfield and his kind, compassionate staff understand that the period following a death is the most challenging for friends and family. He’ll work with his dedicated legal team to handle all of your inheritance concerns for you, so that you and your loved ones can focus on what matters most. If you or a loved one recently received an inheritance, don’t hesitate to call 661-384-6940 to schedule your free consultation today.