When someone close to you passes away, you have a lot to deal with, logistically and emotionally. Figuring out the paperwork you need to file with the county probate court is probably not on the top of your priority list. Unfortunately, you need to get the estate administration process started so that bills can be paid before creditors become too insistent.
The Law Office of Cameron H.P. White, P.A. is ready to assist. We can guide you through the estate administration process and handle many tasks directly on your behalf, saving you time and resources. With our help, you can avoid common mistakes that lead to delays and can even subject you to personal liability. We aim to make the estate administration and probate process as efficient and easy as possible.
Do You Need to Go Through Probate?
Unless the deceased person worked with an estate planning attorney to develop a probate-avoidance plan, it will probably be necessary to go through some form of the probate process. During probate, the court supervises the winding up of the estate, making sure that the right person is authorized to manage affairs, the right creditors are notified, the right bills are paid, and that the right people receive proceeds from the estate.
If there are no assets in the estate, however, then there is nothing to probate. Property does not become part of the estate if it has been transferred to a trust. If the deceased person set up a revocable living trust and properly transferred assets into the trust, then the trust property can go directly to alternate beneficiaries once bills are paid, and there is no need to open probate or file anything in court.
Assets that pass directly through beneficiary clauses and property that is co-owned will also usually pass directly to others without needing to go through probate. So, to determine whether probate is necessary, you need to inventory the deceased person’s property and look at the ownership structure of the assets. If the house and car are co-owned with a right of survivorship and all bank and retirement accounts name living family members as beneficiaries, there may be nothing to make up an estate. We can help you determine whether probate is necessary and the type of probate needed.
Tasks Involved in Estate Administration
Every situation is somewhat different, but generally, the process of estate administration starts by looking for a will. If the deceased person had a safe deposit box and the will might be inside, you can file a petition in court to gain access to the box. If you can’t find a will or you are certain that the deceased person did not create a will, then the estate is considered “intestate,” and the rules and procedures vary a bit from those that apply to estates with a will.
Whether or not there is a will, either you or someone else will need to file a petition in court to gain authority to handle the estate. Even if you are named as the executor in the will, you don’t have any authority to act until the court approves you and issues formal documents.
From that point on, the person administering the estate will need to:
- Notify heirs, beneficiaries, and creditors in accordance with legal requirements
- Open estate accounts and request a tax ID number
- Inventory the estate, value the assets, and file information with the court
- Pay debts in order of priority
- File tax returns for the individual and the estate
- Distribute remaining assets to beneficiaries or heirs according to the terms of the will or intestacy laws
- Filing final paperwork with the court
It is important to complete certain steps by a particular deadline. For instance, creditors need to be notified within the right timeframe so they can file paperwork to secure their claims. In addition, if there is a possibility that the estate may not have enough funds to satisfy all creditors, it is vitally important to pay bills in the order established under the law.
The Law Office of Cameron H.P. White, P.A. Helps with Estate Administration
The bottom line is that estate administration is a lot of work. At the Law Office of Cameron H.P. White, P.A., we can handle much of the work for you, and provide guidance so that the tasks you need to complete will be done in compliance with all legal requirements.
We take the worry out of the process, so you can focus on your family. For the help you need, contact our office today.