The idea of taking an estate through the probate process might sound intimidating and excessive. Most used in situations where the decedent died without a will, you might face the responsibility of shouldering this task as an executor.
Knowing what to expect might ease your concern and help you feel better equipped to take the next step. Seeking guidance and support throughout the process may improve efficiency and effectiveness.
File a petition
The first step involves petitioning the courts for probate to begin. This will involve paperwork and deadlines to ensure everyone has the information they need to proceed.
Give notice
Following a petition, you will need to give notice to anyone who had dealings with the decedent. This includes lenders, creditors and beneficiaries. You will need to inform them that the estate is now in probate court.
Distribute assets
Prior to distributing assets to the appropriate beneficiary, you might need to take a comprehensive inventory of what there is. According to U.S. News, estate assets could include real estate property, household goods, personal possessions and vehicles.
Close estate
Once you have satisfied every requirement for closing the estate, you will need to request that the court close the case. When you receive a formal notice of the estate’s closure, you will no longer have the responsibility to execute anything related to the estate.
Closing an estate requires time, patience and attention to detail. You will need to work with a lot of people to make sure everything meets the requests of the decedent who put you in charge. Asking for help and seeking support can help you perform your responsibilities with confidence and ease.
