Probate
Probate is a formal, court-supervised estate administration for someone who did not have a Living Trust, where the value of assets outside of a trust requires it, when the deceased only had a will, or in cases where there are no estate plan documents whatsoever. Gaw Estate Planning represents the Executor or Administrator, which is the title given to the person representing the estate. This proceeding typically lasts more than a year. There are fees set by statute as well as potential extraordinary fees for actions such as selling real estate.
The following are some of the services Gaw Estate Planning may provide when a probate is necessary:
- Assist Personal Representative throughout the process
- Help determine beneficiaries and heirs
- File petition for probate
- Arrange for Publication of Notice
- Collect of asset information
- Arrange for appraisal of assets by a Probate Referee
- Determine the decedent’s liabilities
- Petition the probate court for instructions as needed
- Prepare and file Spousal Property Petition, where appropriate
- Prepare legal notices, such as notice to creditors
- On death of first spouse, determine whether to file a 706 return for “Portability”
- Prepare and file 706 return where required
- Assist in sale of assets
- Prepare accounting
- Distribute assets to Trusts or outright to beneficiaries