If you have been appointed the executor of someone’s estate, you will need to understand exactly what probate is, how it works, and what you need to do to get started. Gathered are some helpful tips to guide you through the process:

  • When the person who has appointed you the executor of their estate has passed, you will need to file a request for probate in the state in which they lived. The next step is filing the death certificate and original will with the court.
  • The court requires that you publish a notice of probate in your local newspaper. You will need to provide the court with proof of publish.
  • The court also requires you to mail informatory notices to known creditors, beneficiaries, and heirs. You will need to provide the court with proof of these notices.
  • As required by the court, you must post a bond that will protect the estate from losses incurred by you.
  • It is important to remember that you are in charge of the estate while it is in the probate process. That means you will need to obtain employer identification for the estate. This can be found at the IRS. Likewise, you will also need to inform the state health and welfare department of the death.
  • Next, you will need to open an estate bank account and arrange for how you will handle the income tax returns.
  • Once you evaluate the estate’s assets, you will need to prepare an inventory.
  • You may need to be required to file a federal and state estate tax return, so be sure to confirm.
  • Before the final hearing, you must inform the beneficiaries and heirs, and have proof of notice.
  • Once you get permission from the court to distribute the property, you can transfer all assets to the new estate owners.
  • The final step is requesting a release from your duties.

Contact Gaudy Law today for all of your legal needs. We are always available to help you with your probate and estate planning needs. We can help you get all of your financial affairs in order.

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