How to Probate an Estate - A Step-By-Step Guide for Executors
An executor's step-by-step guide to probate!
Probating an estate can be a demanding and time consuming process for executor's involving complicated taxes, fee payments, disputes amongst beneficiaries and tricky asset transfers. It's therefore important to be properly prepared for the task before embarking on it! Any omission or error could result in financial losses to the estate, delays in the completion of probate and personal liability for you as executor.
Executors have a general duty to administer the deceased's estate and to distribute the estate to the beneficiaries named under the deceased's will or, in the absence of a will, to the deceased's heirs in accordance with state intestacy laws.
Amongst other things, an executor will have to the following during probate:
open and close probate proceedings;
take possession of the deceased's property;
prepare an inventory and valuation of the deceased's property;
manage, protect and preserve the estate;
notify creditors of the deceased's death & allow or disallow creditors' claims;
discharge taxes; and
distribute assets to the beneficiaries.
Enodare has created an executor's guide to probate that will help you avoid the common mistakes made by executors when probating an estate. The book is called "How to Probate an Estate - a Step-By-Step Guide for Executors." It is essential reading for anyone thinking of acting as an executor! It will guide you step-by-step through the probate process from the moment the deceased passes away right through to the distribution of assets and the closing of the estate. It covers non-routine matters such as obtaining death certificates, dealing with autopsies and planning funerals; as well as routine matters such as locating, collecting, managing and distributing assets. You'll even learn how to deal with creditor claims and taxes, as well as how to wind up a living trust!
"How to Probate an Estate" is an executor's one-stop resource for successfully probating an estate.
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duties and responsibilities of Executors
Executor duties What to do Immediately
making Sense of the Will and What to do
Executor duties Taking Stock
What an Executor Should do in the first month
Property that doesnt Go Through Probate
How to Initiate the Probate Process
distributing Assets and Closing the Estate
The Settling of Trusts
Other editions - View all
ademption administration affidavit amount apply appointed as executor attorney beneficiaries named bond cash Chapter Colorado community property copy deceased died deceased spouse’s deceased’s assets deceased’s death deceased’s estate deceased’s family determine discharge documents duties elective share ensure estate assets estate tax estate’s executor financial institutions formal funeral gift go through probate grantor heirs Important note income tax income tax return inheritance tax interested persons intestacy inventory investment IRS Form letters of authority Letters Testamentary liabilities living trust located manage Name and Address notice to creditors notify PASSED Jul payment personal property personal representative petition Print name probatable estate probate court probate office probate process procedure real estate residuary responsibility safe deposit box securities small estate successor trustee surviving spouse tax identification number testator’s transfer trust assets trust property Uniform Probate Code unsupervised valid