ESTATE ADMINISTRATION The loss of a loved one can be a devastating time. Life changes substantially. And the legal and formal complexities can be overwhelming. The steps of Estate Administration may include collecting assets, paying debts and expenses, filing tax returns, and filing formal documents with the Surrogate's Court.
After a death, a family has to address necessary personal and funeral arrangements. After that time, it is necessary to collect assets in the decedent's name and begin the estate administration. If there are assets in the decedent's name alone, this will require a probate or administration proceeding. While the probate process is often feared, it can be handled efficiently and expeditiously. It requires a filing in Surrogate's Court and some formality, the degree of which is determined by the facts of a particular estate.
After probate, the appointed fiduciary collects assets, pays debts and expenses, files necessary tax returns and eventually distributes assets to the beneficiaries. The entire process ensures that those entitled to assets are protected.
At Pellittiere & Jonsson PLLC our job is to facilitate the administration process by answering the questions that overwhelm the family during this difficult time. The administration process can be daunting and time consuming, but with proper guidance, the administration and transition of assets can be accomplished efficiently in a timely fashion.