Lower Burrell Estate Administration Attorney Ready to Guide You
The responsibilities of estate administration can be very overwhelming. There may be debts to pay, assets to gather, and plenty of distributions among the named heirs of a decedent’s will. When your pain is still fresh following the death of your loved one, the last thing you need is the pressure to perform all these duties by yourself. Here’s what you need to learn about estate administration as a first-time executor to help you carry out these duties with the least trouble involved and how a Lower Burrell estate administration attorney can be valuable to you.
What’s Estate Administration?
Estate administration is a process involving several actions that guide an administrator or executor through the process of distributing a deceased person’s estate. In many cases, the deceased leaves a will that explains how they wish to share their estate among heirs.
These responsibilities are carried out by either an executor or an administrator. The executor is the person the deceased names in their will and is later approved by a probate court to perform the estate administration duties.
In cases where no one is named, the probate court appoints a close acquaintance of the deceased or a family member as the estate administrator, also referred to as a personal representative in some states.
What Are the Duties of an Estate Administrator?
Ideally, there’s no difference between the duties carried out by an executor and an administrator. They both take on the responsibilities of executing the distribution of assets of the deceased per the state’s laws or the will. These responsibilities include:
- Gathering the assets of the deceased.
- Paying off debts of the estate.
- Distributing the estate to the heirs and legatees per the will or intestate laws.
- Managing and closing accounts of the deceased.
Although the principles of the estate administration process are similar among states, state laws differ greatly when it comes to inheritance taxes, accepted probate avoidance strategies, and the rights of the spouse and children. All these rules and regulations should be considered during estate planning to avoid any property conflicts by the remaining heirs.
If you are a resident of Lower Burrell and the Alle-Kiski Valley region, Harkins Elder Law can help you through the estate administration process and with your estate planning process, including preparing living wills, trusts, wills, powers of attorney, and much more.
Steps Involved in Estate Administration
The estate administration process is governed by the varying rules in different states. Additionally, the process has different steps depending on whether the probate process is formal or informal.
Probate is a court-supervised process that seeks to recognize the will of a deceased and its executor. In case the will has no named executor, the court appoints an estate administrator.
An informal probate process is the most cost-effective and often shorter because it doesn’t involve any court hearings. Basically, it only involves filing the will to the probate court for approval before the estate administration begins.
On the other hand, the formal probate process may occur when the will is disputed by a family member or a named heir. As a result, court proceedings must be held to sort out the issues raised before the estates are distributed.
In general, these are the steps involved in estate administration:
- Filing the will and the required paperwork with the probate court (Registers of Wills in Pennsylvania).
- Compiling a list of the deceased’s inventory, including those outside the state.
- Completing inherent tax forms and paying any pending taxes.
- Handling income tax work for the year of death.
- Filing the tax returns of the estates of the deceased.
- Distributing the estates among the heirs and legatees per the will.
- Valuation of property.
- Giving the final account to the probate court regarding the estate distribution.
The formal probate process can sometimes take several months or years to complete, causing additional frustrations to the bereaved family. Some end up in family conflicts and misunderstandings that often threaten to tear the family apart.
However, a trust will reduce the chances of such problems arising by avoiding probate and court proceedings. In addition, the trust also allows you to transfer your assets to the person you choose and is effective immediately once you have it signed.
All these can be done during your estate planning process. Count yourself lucky if you live in AK Valley or Lower Burrell, PA, because you can contact an experienced elder law attorney from Harkins Elder Law for these services.
Estate Administration Vs Probate
Probate forms a small part of estate administration. Before an executor can carry out any estate administration duty, they have to be approved by a probate court. The court can also appoint an administrator or a personal representative when the will doesn’t name an executor.
If the deceased didn’t leave a will, intestate ensures that all bills and taxes of the deceased are paid and their assets well distributed among the beneficiaries.
On the other hand, the execution of a will process includes many different steps, such as gathering the deceased’s estate inventory and other out-of-court responsibilities. These responsibilities consume too much time and can be overwhelmingly difficult, especially since probate and estate administration laws differ from state to state.
That’s why it’s advisable to speak to an attorney who is familiar with estate administration laws in your state to help you through these processes. You don’t deserve to deal with the emotional turmoil that death brings along with the stressful legal procedures of estate administration.
Chris Harkins has helped hundreds of bereaved families in Lower Burrell through peaceful estate administration processes, allowing them to worry less about their inheritance while grieving. You, too, can get such relief by contacting Harkins Elder Law online or by calling (724) 472-8717 for a consultation.
What Is Estate Inventory?
Estate inventory is the list of all assets fully or partially owned by a decedent at the time of his death. These assets include those in the state where the decedent died and those in other states.
What Is a Release from Administration?
When a decedent’s estate is below the court’s set limit, a release from the administration is allowed. A release from administration saves the family a lot of paperwork, money, and time by skipping most of the steps involved in the probate process.
