Probate & Estate Administration

   When a loved one passes away, his or her estate often goes through a court-managed legal process called probate or estate administration where the assets of the deceased are managed and distributed.  A will has to be “probated” by a court, which means that a court has to confirm the validity of a deceased person’s will so interested parties know the will is authentic.  If the assets of the deceased were owned through a well drafted and properly funded living trust, it is likely that no court-managed administration is necessary, though the successor trustee needs to administer the distribution of the deceased's assets.  The length of time needed to complete the probate of an estate depends on the size and complexity of the estate and the local rules and schedule of the probate court.

The probate process for each estate is unique, but usually involves the following steps:

• Filing of a petition with the proper probate court.
• Notice to heirs under the will or to statutory heirs (if no will exists).
• Petition to appoint Executor (in the case of a will) or Administrator for the estate.
• Inventory and appraisal of estate assets by Executor/Administrator.
• Payment of estate debt to rightful creditors.
• Sale of estate assets.
• Payment of estate taxes, if applicable.
• Final distribution of assets to heirs.