A will contest can result in a significant delay in the distribution of a loved one's assets, and can also be expensive. The costs of a will contest are paid out of the estate, which may significantly deplete the available funds. If you are concerned that a will may be subject to a will contest, contact an experienced probate and estate administration attorney today.
Although it can be difficult to talk about what will happen after you have passed away, those are critical conversations to have. At my firm – the Law Office of Barbara J. Dibble – I help clients throughout Fullerton and Orange County prepare wills, trusts and other estate planning documents to help them know what will happen with their assets after their death. Call 714-515-5126 for a free consultation.
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Whether you are a young single person, a newly married couple or an older individual, estate planning is crucial. I am attorney Barbara Dibble, and I help clients create an estate plan that is tailored to meet their needs. Call 714-515-5126 to learn more about your estate planning options.
After a person has passed away, there are a lot of things to think about. If you are responsible for probating your loved ones estate, working with an experienced lawyer can help properly handle your situation. Call 714-515-5126 to schedule a free consultation with an experienced California attorney.
Role of the Executor
An executor is the person named by the creator of the will (the testator) to carry out the terms and provisions of the will. In addition to locating important documents and notifying Social Security, pension providers, annuity providers and other entities of the death, the executor has numerous other legal responsibilities.
The executor's legal responsibilities include:
- Initiating the probate of the will
- Collecting and inventorying the testator's assets
- Collecting debts owed to the estate
- Paying claims against the estate
- Distributing assets to the beneficiaries of the will
- Closing the estate
These responsibilities can be daunting and time-consuming. If you have been named the executor of an estate, contact Barbara J. Dibble, Attorney at Law to discuss your role and the California estate administration process.
Initiate Probate
It is the executor's duty to open up the estate and to begin probate proceedings. Typically, an executor who is not an attorney will hire a lawyer to represent the estate during the probate process, to provide the required notices to interested parties and potential creditors, to obtain required documents (such as the death certificate and an original copy of the will), to deal with will contests, and to close the estate. Attorneys fees and expenses for representing the estate are, like executor fees, charged against the estate.
Inventorying Assets
The executor is also responsible for completing an inventory of the assets of the estate. All probate assets must be collected and inventoried. Also, it may be necessary to have certain assets of the estate (such as jewelry or collectibles) appraised.
Collecting Debts and Payments Owed to the Estate
The executor should check with the decedent's former employer to determine whether there is any unpaid salary or benefits owed to the decedent. The executor must also identify outstanding debts owed to the estate and pursue collection of those debts. Expenses involved in the collection of the debts, including fees associated with hiring a collection agency to collect debts, are charged to the estate.
Paying Claims Against the Estate
Once probate court determines that the will is valid, the executor may begin to pay taxes and other claims against the estate. While paying creditor claims is a task that can be handled by a non-attorney executor, the process of paying taxes on behalf of the estate and of the decedent is often complicated and therefore handled by an attorney hired for the probate and administration process.
Distributing Assets to Beneficiaries and Closing the Estate
Once creditor claims against the estate have been settled, the executor can then distribute the remainder of the estate to beneficiaries in accordance with the terms of the will. When all of the creditors have been paid and the remainder of the estate has been distributed to the beneficiaries, the estate can be closed and the executor can be released from any further duties on behalf of the estate. A court will typically close the estate upon receiving:
- Copies of notices to concerned parties
- Copies of payments to creditors of the estate
- Evidence that remaining assets of the estate have been distributed
Conclusion
Any person over the age of 18 can be named an executor of a will, provided that the person has not been convicted of a felony, and often times a family member or close friend is chosen to serve. However, settling an estate, even a simple one, involves numerous details and technical requirements that are often left to an attorney. If you have been appointed as an executor of an estate, contact Barbara J. Dibble, Attorney at Law in Fullerton, California, to schedule a consultation with an attorney experienced in probate and estate administration.
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