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Video instructions and help with filling out and completing Who Form 5495 Probate

Instructions and Help about Who Form 5495 Probate

Sometimes people ask, "Well, how do I draw up the paperwork necessary for me as an executive to my job?" And the very best answer, and this is the one that you've got to take very seriously, is to go to a qualified lawyer that can help you. Do not do this at home. The reason you don't want to do it at home is that there's a lot of legal liability that comes with acting as an executor. You have what's called a fiduciary duty, and in the law, there is no duty higher than that of a fiduciary. You've got to look out for the rights and to the benefit of the heirs more than your own. And if you're an heir, you can't put your share or your interest above anybody else's. And if you don't have a lawyer holding your hand, walking you through this minefield, you can step on a mine, get your foot or leg blown off, or die without even knowing that you made a mistake. And you won't find out you made a mistake until much later, during litigation, trial work, or fights. In this area of the law, litigation and trials are going to increase as the amount of money that's going from one generation to another increases. So make sure that you go to a good lawyer. Make sure that they've got plenty of probate experience. Ask them to help you. It's not your own money you're spending. It's the estate's money you're spending. And so, you may be an heir again and you may be spending part of your money, but you're also going to be spending the estate's money. And it will be a good investment for you to keep you out of trouble and make sure, to...