“Death is emotionally hard. Planning for a smooth probate process can help your loved ones as they grieve and heal.”
Probate seems daunting. The emotions, family dynamics and financial issues surrounding a death are hard enough to handle without the added complexity of administering the estate.
“Death is hard enough, make it easier on those who you leave behind.” – Stephen Lehnardt
”Probate” refers to the formal legal process of collecting a deceased person’s assets, paying their final expenses and creditors, and then distributing their remaining assets either according to a will or the probate code if there is no will. The process varies by state but usually includes the following basic steps:
Under the applicable probate code, probate administration generally takes eight months to one year or more to complete. If the estate assets are complex, or if conflict arises, the process can take even longer.
If you want probate to be as smooth and simple as possible for your heirs, here are a few tips:
For Your Executor:
Your executor has a fiduciary duty to manage and distribute estate assets according to the instructions of your will and probate law. The executor:
Help your executor by choosing wisely.
Choose someone you not only trust, but who will be capable of handling the complex responsibility of being an executor. Ideally, your executor should be organized, detail-oriented, a good communicator, and willing and able to take on the necessary amount of work.
Set your executor up for success.
Here are a few things you can do to make your executor’s job easier:
Help Your Heirs:
Because heirs don’t have any responsibilities to manage the estate, they may become frustrated and slow down probate administration–which results in a higher cost to the estate. The following may help keep the process flowing smoothly:
Get the right help.
Whether you are planning your estate, an executor of an estate, or an heir it’s important to seek the advice of experienced estate planning attorneys to plan, prepare and get organized.
At Messner Reeves, the experienced attorneys in our Private Client Group have helped plan and administer hundreds of comprehensive estate plans for individuals and families, investors and business owners. We work closely with you and your advisors to navigate the intricacies of estate, tax and asset protection planning, and help smooth probate, guardianship and conservatorship administrations. Contact us today.
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