Settling an Estate
Estate settlement procedures are described in some detail. Checklists and a planning outline are also included to provide the personal representative (i.e., executor) with a logical roadmap through the process:
Chapter 3 - How Property Passes at Death
- Individually Owned Property
- Jointly Owned Property
- Passing Property By Will
- Intestacy
- Property Passing Under a Trust
Chapter 4 - Estate Transfer Procedures
- Is Probate Administration Necessary?
- Property Subject to Probate
- The Probate Process
- Transfer By Affidavit
- Small Estate, or Summary Administration
- Informal, Unsupervised, or Independent Proceeding
- Formal, or Supervised, Proceeding
Chapter 5 - Preparing for the Administration of the Estate
- Locate the Original Will
- Selecting the Attorney
- Meet With the Attorney
- Review the Decedent's Will and Trust
- Assign Duties and Responsibilities
- Determine the Need for Special Administration
- Family and Other Allowances
- Surviving Spouse's Elective Right
- Obtaining the Necessary Documents and Information for Settling the Estate
- Reviewing the Initial Steps Necessary for Administering the Estate
- Meet With the Family
Chapter 6 - Assembling and Protecting Estate Assets
- Where to Look
- Searching the Residence
- Protecting the Property
- Managing the Decedent's Business
Chapter 7 - Administering the Estate
- Inventory and Appraisals
- Managing the Property
- Cash Requirements
- Claims and Expenses
- Personal Representative's Fees
- Tax Returns
- Tax Elections and Other Postmortem Planning Issues
- Accounting for the Administration of the Estate
- Distributing Assets
- Closing the Estate