The final decisions or instructions of an individual are outlined in a will.An individual's will deals with their assets and how they will be distributed upon their death.The disbursement and management of the estate is overseen by the probate process.The basic process for most estates is the same regardless of state or county.
Step 1: Understand some basic terminology.
You may need to learn some key vocabulary if you don't know how wills and estates work.It is not necessary to become a legal expert overnight, but you should be aware of the following terms.A formal written request asking the court to oversee the distribution of the estate is known as a belonging to the deceased.
Step 2: Understand the role of an administrator.
This role has a lot of legal liability.An executor is responsible for finding and protecting assets belonging to the estate.A person is named in a will.The testator names the person they want to administer their estate after they die.Two people are designated as co-executors of the estate in some cases.If the first person who is named as executor is unavailable or unwilling to act, a will may provide for a back-up.
Step 3: Consider hiring an attorney.
If someone challenges the will, the proceedings can be complex.Some states have forms that you can fill out on your own, but other states don't.Without the guidance of an experienced attorney handling an estate can be difficult.The estate assets or property can be used to pay the attorney's fees.
Step 4: You should get multiple copies of the death certificate.
You will need a copy of the death certificate in order to file a petition for probate with the court, as well as copies for other entities.A death certificate can be obtained from your state records office.There is a fee for getting a death certificate.The testator's death should be reported using the death certificate.Banks and other businesses should be notified first by the Social Security Administration.
Step 5: You can file a petition.
If you are the administrator of someone's will, the first thing you will do is file a petition.If you want to keep a file-stamped copy of the petition, you should file the original and at least two copies.The petition asks the court to rule on the validity of the will and grant you permission to distribute assets according to it.You have to give the court the original will and death certificate when you file the petition.The deceased person's county of residence is where this petition must be filed.The death certificate, will, and probate petition should be filed as soon as possible.You will have to pay the court's filing fee.The fee varies from state to state and county to county, but is likely to be in excess of $100.If you live in a state that does not expect anyone to contest the will or your role as the personal representative, you may be able to file a petition for informal probate.Simply filing paperwork is what this avenue allows you to do.If you receive assets from an informal or summary administration, you may be held liable for up to two years.Informal administration is reserved for estates with values of less than $100,000.Alaska, Arizona, Colorado, Florida, Hawaii, Idaho, Maine, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Jersey, North Dakota, South Carolina, and Utah use the UPC.Succession without administration or small estate is a potential option.This option is only available for estates that do not contain any other assets.The total value of the estate's non-exempt property, which is subject to creditor claims, must not be more than the costs of paying medical bills for and burying or cremating the deceased.The expenses must be paid first in an estate.
Step 6: Inform interested parties of the petition.
You have to inform heirs and the court about the proceedings once you have filed the petition.Send official letters to the current addresses of these people.Mail notices to last known addresses are a last resort if you can't get a current address.Legal formality for this notification process varies from state to state.Make sure to check your state's specific laws to make sure you notify appropriate people in the correct way.Some states require that you draft a Notice to Creditors document that contains specific information about the estate.You have to mail notices to interested parties yourself in some states.Notices for the court will be sent to you in other states.
Step 7: You can put a notice in the newspaper.
You need to publish a newspaper notice in the city or town where the deceased person lived in order to send individual notifications.If you do that, you will be able to make potential creditors aware of the proceedings and participate if they wish.Depending on your state, you may be required to show proof that you have notified all of the appropriate people and published a notice.Before your hearing can be scheduled, you need to know the law in your state.
Step 8: A hearing should be scheduled.
You can ask the court to schedule a hearing after you publish a notice in the newspaper and contact interested parties.If there are no objections, this hearing will be used to make you the official beneficiary of the will.It may take weeks or even months for your hearing to be held.Some court dockets are very busy and may not have a time slot available for your case for a long period of time.The timelines vary from state to state and from county to county.
Step 9: If necessary, post a bond.
In some states, you have to post a bond with the court as the estate's administrator.The bond amount depends on the size of the estate.The purpose of requiring a bond is to protect heirs from any losses that you cause, either intentionally or accidentally.You should speak to an attorney if you are concerned about posting a bond.They can help you understand the rules in your area, as well as your rights and responsibilities.
Step 10: Accurately verify witness signatures.
The court may require anyone who witnessed the declaration to sign it.The witness commits perjury if they give false information.
Step 11: The court requires any other documents to be filed.
Depending on where you live, the specific documentation that your probate court requires will vary by state and sometimes by county.Before your hearing, you will need to file additional documentation with the court.
Step 12: Attend the hearing.
Most hearings are easy to understand.The validity of the will will be determined by the court as to the date of death and county of residence.You will be given permission to distribute the property according to the will.You don't need to attend a formal hearing in states that have adopted the UPC.If no one contests or objects to the will, everything can be handled through paperwork.If a judge rules that the will is invalid, it will be void.All the property of the deceased will be distributed according to the state's laws of intestacy.When a deceased does not have a valid will, these laws regulate the distribution of property.
Step 13: Interested parties can contest the will.
In some cases, the hearings are not easy to understand.Potential heirs, beneficiaries, and creditor can contest the will.These situations can become very complicated and emotional because they often involve friends and family of the deceased person.There are a number of reasons that interested parties might contest the process.The individual feels entitled to a larger share of the estate than the will provides.The deceased person's will was coerced, tricked, or unfairly influenced according to the person.The individual thinks the will doesn't conform to legal requirements.Someone thinks someone else is more capable than you.
Step 14: Affirmative against objections.
You will have to defend both the will itself and your appointment as executor if one or more interested parties contest the probate.The judge will either make a decision at the hearing or schedule a second hearing to deal with the developments.When a would-be heir objects to the distribution of assets outlined in the will, it's one of the most common contested probate situations.In general, a person can leave their assets to anyone, even if they have specific laws for their spouse.The judge is likely to only be concerned with the validity of the will.Through witnesses and other evidence, you will be able to show that the will is in line with state law.The legal concept of escheat is a less common reason for a contest.The government may have the right to some or all of the deceased's property.Depending on your state, there may be circumstances in which the government takes an interest in the distribution of the decedent's assets.It is your job to show that the will is valid and that there are legal heirs who are entitled to the deceased person's property.
Step 15: An attorney can give you advice.
Even if you don't think you need an attorney to handle the entire process, you may want to talk to a lawyer about it.You should get an attorney's opinion on how to handle the matter before acting because these proceedings can quickly become very complicated.
Step 16: Information to gather is relevant.
Once the hearing is complete, you have to pay your debts, disbursing property, and close the estate.To do that, you will need the following information: an employer identification number from the IRS, a list of the deceased person's assets, all known creditor and amounts of their claims.
Step 17: You can open a bank account.
Estate purposes only require a bank account.This account keeps your assets and liabilities separate from your own, which is required by law.
Step 18: All assets should be raised and inventory.
Before anything can be paid or distributed, you need to have items of value assessed.This process will give you an idea of how much will be paid to each heir.Each asset should be categorized according to its exempt status.State law forbids the taking of exempt assets to pay off debts.Real estate and a specific amount of personal property are included in these assets.Assets that are named a beneficiary upon an individual's death fall outside of the estate.Assets may include 401(k) plans, life insurance policies, pensions, and joint bank accounts.Assets that fall outside of the estate are exempt.Non-exempt assets are property that a creditor can claim in order to repay debts.
Step 19: The non-exempt estate assets have a value.
Assets that fall outside of the estate should not be included.The amount of non-exempt assets will be used first to pay claims.The heirs will receive any remaining non-exempt assets according to the will.
Step 20: Pay debts.
In accordance with the laws of your state, you must evaluate creditor claims.You will need to pay your debts quickly if you have valid claims.In order to pay the bills, you may have to liquidate some assets or reduce them to cash.The creditor's claim period is when your state may have a designated period of time.You have to wait until this period has passed before you distribute assets to a creditor.If you don't think the claims are valid, you need to talk to an attorney.
Step 21: Take care of the estate's tax obligations.
Estate taxes can be difficult to understand, so it is best to consult with an experienced accountant.You may need to deal with both federal and state taxes depending on the value of the estate.If the estate value is higher than a certain amount, you will have to file a state tax return.
Step 22: The court may allow the distribution of remaining assets.
You can get permission from the court to distribute property to heirs when the creditor's claim period is over.Notices to interested parties may be required before you can close the estate.If you are subject to any additional requirements, you should check with the court.
Step 23: Remaining assets should be distributed by the will.
Remaining cash and property can be given to heirs as directed by the will or the court once all of the estate's obligations are paid.You should get receipts for all of the property that you distribute.If you are asked to give accurate records to the court, keep them.
Step 24: Follow up with the court.
If you have distributed property, you need to file documentation with your court.The court will let you go if everything is in order.
Step 25: The estate needs to be closed.
You can close the estate once financial obligations have been paid and assets distributed to heirs.In order to properly close an estate, certain actions must be taken in all states.Prepare an accounting of the estate assets and how they were distributed.The accounting should be filed with the court.The judge will issue an order closing the estate if there are no outstanding issues.Once checks have cleared, close the estate bank account.When closing an estate, this is the last step.