In order to protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us through telephone and video conferencing. As directed by Governor Baker, our North Reading office is closed, however, you may reach us by phone or email at any time. We want all of our clients, current and future, to know that we are available to them, especially during this time when estate planning is critical to properly protect their home and other assets from medical and other potential future costs. We are keeping our website and Facebook page up to date as we learn more about the financial relief offered by new federal legislation. We encourage you to take the time to think about your future and reach out to us so that we may provide you with the best resources to guide you during this time of uncertainty.

Estate Administration

We Take Care Of The Fine Details OF Estate Administration

Estate administration involves collecting a decedent’s assets – particularly personal assets – and using them to pay debts, taxes and costs of administration until all the debts and costs are paid or the assets are exhausted. The remaining assets are distributed in accordance with the decedent’s will or, in the absence of a will, by intestate succession, as provided by state law.

In many states, legislatures have adopted some version of the Uniform Probate Code (UPC), which was designed to simplify the estate administration process. Due to the real or perceived complexity of the estate administration (or probate) process, many people have sought legal advice on how to avoid probate. In this, as in any complex legal matter, consulting an attorney with experience in estate administration is essential. There are various components of estate administration that are often misunderstood or overlooked. While you do not have to understand the entire process, it is important to know what some of the misconceptions are so that you are better equipped to start out.

If you have lost a loved one, we urge you to contact us as soon as possible. Schedule a consultation at our North Reading office online or by calling 978-664-2552 now.

Ancillary Proceedings

An estate may need to be administered in more than one state. Generally, a decedent’s estate is probated or administered in the state where he or she resided at the time of death. However, because state law governs the transfer of real estate it may be necessary to do an ancillary proceeding to probate for any real estate the decedent owned in another state. An ancillary proceeding is a scaled-down probate proceeding, which governs only the assets located in that state.

Informal Versus Formal Probate Proceedings

While probate proceedings can be extremely formal, they can also be relatively informal. An informal probate proceeding usually involves filing some basic paperwork, having the court appoint someone to manage the estate, paying the debts, distributing the assets and having the court approve the distribution. The court may never require a hearing, but only a review of the papers filed.

In other instances – such as when a will is disputed – a formal probate proceeding may be required. A formal proceeding involves more court oversight and usually requires one or more court hearings. In some states, a probate proceeding can be formal in parts and informal in others. For example, the matter may start out formally, with a court hearing to appoint the personal representative, but end informally, with a paper filed with the court detailing how the assets are to be distributed.

Small Estate Administrations

It may be possible to avoid the probate process for a decedent who owned few assets. A “small estate administration” is available in many jurisdictions. Usually, in order to qualify for a small estate administration the decedent’s assets must not include real estate and must be worth less than a threshold amount determined by the state. If a small estate administration is possible, the parties who are entitled to receive the decedent’s assets may collect those assets by way of an affidavit. Even in a small estate proceeding, though, the decedent’s creditors need to be paid from the assets.

Who Appoints A Personal Representative?

Generally, the first task in a probate proceeding is appointing a responsible party to manage the estate. This person is usually called the personal representative, but may also be known as the “executor.” The personal representative may be an individual or a company, such as a bank. The personal representative may have been nominated by the decedent in the will. In the absence of a will, the court will usually appoint the surviving spouse or another family member. There may be more than one personal representative named.

The Duties Of A Personal Representative

After being appointed, the personal representative is expected to document all of the decedent’s assets. This documentation is often referred to as the inventory. The personal representative must also inform the decedent’s creditors that the decedent has died. If the decedent’s probate assets are sufficient to pay the creditors, the personal representative will pay them from the estate. If the probate assets are insufficient, the personal representative may need to obtain court approval to determine which creditors should be paid.

Assets left after the creditors have been paid are distributed according to the will. If there is no will, the decedent is said to have died intestate. State laws vary as to how to distribute the assets of an intestate decedent.

The personal representative must also file any necessary tax returns, and may need to bring a lawsuit to collect any money owed to the estate. If the will is contested or there is any other dispute about how to distribute the estate assets, the personal representative may have to “defend” the will in a probate proceeding.

Preparing to Meet with Your Estate Planning Attorney

To read and print out a copy of the checklist, please follow the link below.

Preparing to Meet with Your Estate Planning Attorney

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DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. Seek competent counsel for advice on any legal matter.

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