Probate & Estate AdministrationCall us now or use the form below. Frequently Asked Questions about Probate and Estate AdministrationQ: What is probate? A: Probate is the court procedure by which a will is proved to be valid or invalid. Creditors of the estate are provided the opportunity to file claims against the estate and receive payment of those claims. After the administration fees, taxes and creditor claims are paid, any remaining assets of the estate are distributed to the beneficiaries. Q: What is a will contest? A: A will contest is a legal action that challenges the validity of a will and/or the terms of the will. A will may be invalid if it was the result of forgery, undue influence, inadequate execution, or other issues. A later will may invalidate an earlier version. 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 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 right away. Haddon Heights and Lawrenceville Probate AttorneysThe lawyers of Sharp Bratton advise executors and estate administrators about complying with New Jersey laws and probate court rules. Among the services the law firm provides are determining whether federal or New Jersey estate tax returns need to be filed, advising executors about what steps must be taken to fund trusts in a will document, advising executors about their responsibilities in terms of preserving the estate during the time assets are gathered and distributed, and assisting executors with formal or informal accounting that needs to be prepared after the estate assets have been distributed to the appropriate beneficiaries. Probate and Estate Administration - An OverviewEstate administration refers to the process of probating the estate of a decedent, which generally includes collecting, inventorying and appraising assets; paying and collecting debts; filing and paying estate taxes; and distributing any remaining assets to beneficiaries. An experienced probate and estate administration attorney from Sharp Bratton in Haddon Heights, New Jersey, can help simplify this complicated process. If you need help in the administration of an estate, call Sharp Bratton today. The Probate ProcessProbate is the court process used to determine the validity of a will and oversee the payment of creditors and distribution of estate assets. Even if there is no valid will at the time of death, the estate will still go through the probate procedure. Since probate is regulated by state laws, there are specific procedures proscribed by each state for carrying out the process. Role of the ExecutorAn executor is the person named by the creator of the will (the testator) to carry out the terms and provisions of his or her will. In addition to locating documents left by the testator (i.e., wills, trusts, deeds, etc.) and notifying Social Security, pension providers, annuity providers, and other entities of the death, the executor has numerous other legal responsibilities. Avoiding ProbateAssets disposed of outside the probate process are part of the non-probate estate. Since a probate proceeding is not required, these assets are distributed more quickly to the appropriate beneficiaries. Many people seek out these assets and ownership models in order to save their loved ones from the difficulties associated with going through the probate courts. Will ContestsThe fact that a person (the decedent) leaves a will does not guarantee that the decedent's property will be distributed according to the will's terms. A court generally must provide an opportunity to allow others to object to the will, and a challenge may be brought by anyone with an interest in the will who believes the document is invalid in some way. A will contest is an action challenging the validity of the will and is commonly governed by state statutes. Probate and Estate Administration Resource Links
Uniform Probate Code
Internal Revenue Service
Executors
Smart Money: Estate Planning
AARP:
Estate Planning Guide
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