If you have been named executor of a friend or loved one’s estate, you are probably wondering what to do next. You will need to gather documents to open an estate with the court and create an estate account with a financial institution. It is important to note that a decedent’s bank accounts are frozen after death, so you cannot use them to pay creditors and other probate obligations. You should not use your own money in the hopes of receiving reimbursement.
The process may seem daunting because some steps may precede others that appear equally important. One of our seasoned probate attorneys could guide you and help you complete the necessary steps for opening an estate in probate in Pottawatomie County.
Before an executor can open an estate in probate, they must request and file the necessary documents. This process includes:
The estate bank account pays funeral expenses, estate taxes, creditors, and probate costs. The executor may sell assets to fund the account and use it to manage other expenses, such as home mortgages, during probate. Complex estates may additionally require an estate investment account. Estate accounts remain open until the probate process is finalized. With the assistance of a committed Pottawatomie County attorney, filing an estate in probate could be streamlined.
The District Court is responsible for probating estates. The court must validate the decedent’s will and accept the service of the will executor or appoint one if the person named cannot serve.
The judge will ensure the will is signed and witnessed. They will also determine if the testator understood what they were signing. The will must memorialize the beneficiaries and gifts allocated to them. If beneficiaries complain that a testator was coerced or was not of sound mind during the drafting of the will, the process becomes more complicated.
Executors should keep beneficiaries informed throughout the process since probate can take several months. The allocation of a loved one’s assets can cause infighting, and family members often stop talking to each other. Loved ones may also accuse executors of self-dealing or favoring other beneficiaries. Executors should maintain regular communication with beneficiaries and the court to avoid disputes. They should also seek guidance from a capable Pottawatomie County lawyer when establishing a deceased’s estate in probate.
Executors must inventory a decedent’s assets to ensure all intended gifts are available. Each asset is assigned a monetary value, and if they are unsure about the process, the court permits assistance from experts, including appraisers, accountants, and attorneys. The process starts with validating the claims of creditors and paying them if they are legitimate. However, proof of a debtor’s death could dismiss some claims. Next, any applicable federal, state, and estate taxes are paid. Finally, they distribute the assets to the chosen beneficiaries.
A proactive legal professional could manage potential conflicts and ensure all procedural requirements are met.
Although serving as executor for a friend or loved one after they pass away seems overwhelming, the court and an experienced probate attorney could guide you through the process.
Our attorneys could help you understand the complexities of the probate process. We could ensure you meet deadlines, submit reports, pay creditors, and distribute assets according to the decedent’s wishes. Contact Addair Law today to begin opening an estate in probate in Pottawatomie County.
