What Is Estate Administration-www.sdcp.cn

Legal If you"re like most people, you"ve heard of the term, "probate." Essentially, the term "probate" and "estate administration" are used interchangeably and refer to the winding down of a person"s financial life after death. Technically, the term, "probate," refers to court validation of your will. Who is involved in estate administration? 1.Your executor, named in your will 2.A probate attorney, selected by your executor 3.The court in the jurisdiction where you died What does my executor do during estate administration? 1.Gather assets (figure out what you own) 2.Care for assets (such as a house and car) 3.Appraise assets (for tax returns and distribution purposes) 4.Pay last bills (such as medical, funeral, and credit card bills) 5.Take care of day to day business (utilities, landlord, and leases) 6.Prepare and file all appropriate tax returns 7.Distribute assets to named beneficiaries Who will help my executor? Your executor is not alone. Executors are guided and supported by the probate attorney and her staff. In fact, the law office will do much of the work for you such as ordering appraisals, preparing taxes, canceling credit cards, hiring a real estate agent, and the like. Your executor can also hire a CPA or financial advisor if needed. Your estate pays for these professional services. How do I find a probate attorney? It may help you to know that probate attorneys are also known as "estate planning attorneys" or "trusts and estates attorneys." Ask your friends and colleagues about the reputations of probate attorneys in your .munity. Probate attorneys often write articles, have websites, give seminars, and offer free consultations so you can determine whether you are a good fit. If you have questions about probate and settling an estate, consult with a qualified estate planning attorney. About the Author: 相关的主题文章:

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