Sioux Falls(Mitchell), SD, United States - May 2, 2022 —
When the probate process is on, it is crucial to remember an essential checklist of things to do, disclosed estate planning attorney Jayna M. Voss.
For more information please visit https://www.legacylawfirmpc.com
In a recent interview, the Co-Founder of Legacy Law Firm, P.C. in Sioux Falls, SD, explained: "Probate is required to authenticate a last Will and Testament after someone has passed away.”
If you're nominated, and once a court has appointed you as an executor of a Will, there are several steps you need to take to complete the process."
The first is to file a petition to open probate of the estate in question. "In most states, you'll need to file the Will with the probate court and file the petition as soon as you can after that person has died," said Voss. "Courts in several states will have a form for doing this, meaning it doesn't have to be an overly complicated process."
A probate judge will hold a court hearing to confirm the Will's validity, which allows all relevant parties to object to the Will going to probate. Early in the process, an executor must locate and take possession of the deceased's assets so they can be protected throughout probate.
Voss said: "It might be that the deceased did not disclose certain assets or make them known in their Will. It's up to the executor to find these hidden assets by combing through tax forms, insurance policies, and bank statements."
In the case of outstanding debt, an executor will have to identify and contact the deceased's creditors. "You must notify creditors of the person's death. Additionally, in most states, the executor is required to publish notice in a local newspaper as a way to notify creditors that are not known," Voss added.
Following this, an executor then uses estate funds to pay for the deceased's bills and debts and prepare and file tax returns for the year the decedent passed away. Voss said: "After these steps, the executor will need to petition the court to legally distribute what is left from the assets to any beneficiaries specified in the Will."
Voss advised named executors to seek further guidance from an experienced probate attorney for a comprehensive list of what needs to be done to complete the process successfully.
source: http://RecommendedExperts.biz
Contact Info:
Name: Bobbi L. Thury
Email: Send Email
Organization: Legacy Law Firm, P.C.
Address: 7404 Bitterroot Pl, Sioux Falls, SD 57108
Phone: 605-275-5665
Website: https://www.legacylawfirmpc.com
Release ID: 89073548
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