- by Douglas D. Wilson, CFP, CTFA


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

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