Probate and Administration
After a person passes away, they may leave property in their “estate.” To get their property out of their estate and to their heirs, the estate must be administered in the probate court. If the decedent did not have a will, this is called the administration of an intestate estate, and the petitioning party is generally appointed as an administrator. If the decedent did have a will, the will must be entered into probate, or probated, at the probate court. The petitioner in this case is generally called the executor. In either event, probate is a lengthy process with many moving parts and a stack of papers that will need to be filed, and notices that will need to be served and published. In some cases, the administrator or executor must be bonded, and there are several additional petitions that may need to be filed within the probate or administration. In short, it is advisable to retain experienced counsel to navigate a probate proceeding effectively. Palmateer personally sees the bereaved through the entire probate process, and takes as much time as is necessary or requested to make sure the client understands the process and receives all available legal protections.
Simplified Probate Options
In many cases, the same result that could be obtained through a supervised probate or administration can be obtained at a lower cost through a simplified probate proceeding, which avoids the cost and time otherwise spent within the probate or administration. Further, after six months have passed following a decedent’s death, most of the estate’s creditors are time-barred from asserting a claim against the estate. For this reason, a determination of descent proceeding can effectively transfer real estate and personal property at about one-third of the cost of a full proceeding. Finally, an affidavit of death and survivorship can be employed if the only property which remains is personal property worth less than $40,000. In some cases, the client decides to pursue a full probate proceeding, but many times the same result can be obtained at a lower price through simplified proceedings, and Palmateer always presents these options to the client.
Trust Administration
The administration of a trust is generally simpler and less costly than a full or simplified probate, and that is one of the main reasons the decedent will have prepared a trust. However, it remains advisable to consult counsel after the grantor of a trust has deceased, to make sure all applicable deadlines are met and any possible issues are resolved early in the process, before any problems arise.