Generally, estate administration is the process by which a person’s assets are collected, managed, and distributed after his or her death. It involves following the set of written instructions detailed in your estate plan that dictates who will receive the assets in your estate after you die, what they will receive, and the timing of the distribution. While each estate presents its own unique set of circumstances and required tasks, the estate settlement process broadly includes the following major steps:
The filing with the probate court of a petition for the appointment of a personal representative for the estate, including asking for the formal allowance of any Will left by the decedent;
Identifying, collecting, and appraising the decedent’s assets;
Identifying and paying the decedent’s debts and the expenses of administering the estate;
Preparing and filing any required income and estate tax returns;
Making final distribution of the remaining assets of the estate in accordance with the terms of the estate plan; and
Preparing and filing any required Account with the beneficiaries of the estate and with the probate court.
We will work with your family to ensure the smoothest and most efficient settlement of the estate possible.
In need of Estate Administration?
Contact us today to learn how Grant Gray, PC can assist with estate administration.