The death of a loved one can be one of the most trying times in a person’s life. Between planning for the funeral, gathering friends and family together to grieve and dealing with your own emotions, it can undoubtedly be an exhausting and trying time. However, it’s important to remember that the time after your loved one’s death is crucial to your own financial and legal well-being, and there may be several issues and affairs of the estate that need to be addressed once the funeral is over.
Of course, one of the most common legal issues that arise after the death of a loved one is that of finances, especially when it comes to any debts or unpaid bills that are left behind. If your loved one leaves behind a will and an estate with clear instructions as to how assets should be allocated, then there shouldn’t be many legal ramifications for you and your relatives. If there’s no will, however, then it might be a good idea to hire a lawyer and an accountant, as you’ll encounter several legal and financial issues when dividing assets amongst relatives, creditors and lenders.
