Probate & Trust Administration
When someone close to you has passed, the legal team at Walker Heye, PLLC will help guide you through the process. We’ll let you know whether a probate or trust administration is necessary and advise you throughout the process. Early on, we can help you be aware of what to expect in terms of time, effort and cost.
Do I Need to Probate an Estate?
Depending on the property left by a deceased person, you may or may not need to probate their estate. Generally, if the deceased owned real estate, certificated securities or had accounts without beneficiary designations, a probate will be necessary. There are various exceptions to the rule, such as when there is a community property agreement between spouses. Each case is unique and needs to be addressed on an individual basis.
If you’ve been asked for “letters testamentary,” a probate is likely necessary.
My Loved One Has a Trust. Is a Probate Necessary?
Even in cases where the deceased had a trust, a probate may be necessary. This is especially true in cases where all of the decedent’s property was not properly titled in the name of the trust. Also, even if a probate is not necessary, it may be necessary to formally administer the trust. A failure to do so can expose the successor trustee to liability.
Probate in a Nutshell.
The purpose of probate is to handle the estate of a person after their death. Unless people fight, or there are other complicating factors such as insolvency, most probates are very straightforward. In a probate (1) a decedent’s assets are marshalled and inventoried (2) debts are determined and just debts are paid, and (3) remaining property is passed to the beneficiaries.
What is a Probate?
In a probate:
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A decedent’s assets are marshalled and inventoried
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Debts are determined and just debts are paid
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The remaining property is passed to the beneficiaries
Probates are needed if:
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Owned real estate
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Owned certificated securities
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Had accounts without beneficiary designations
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If you’ve been asked for “letters testamentary”
Hear it From Our Previous Clients
The staff has been so helpful and kind with dealing with the loss and all the other stuff that goes with the passing of my father. An extra special holler to Linda for being so understanding and going the extra mile to help me throughout all the chaos.