Guidance Through The Worlds Of Probate And Estate Administration
Probate and estate administration are the legal processes in which the estate of a deceased person is settled either through the probate court or privately, depending on the circumstances. In either case, the deceased person may have named you in a will or trust document to carry out his or her instructions as to the settlement of assets and other financial matters. In cases where no will exists, the court may have appointed you to act as the executor (also known as the personal representative) of the estate. In all scenarios, you will be responsible for carrying out certain duties in a fiduciary capacity that requires acting in the best interests of the heirs and beneficiaries.
Whether you are an executor or administrator, having the knowledgeable counsel of an attorney can be invaluable in handling the probate or estate administration process. At Richardson Law, PLLC, in Boise, you can work with a trusted legal professional to ensure that the estate is handled correctly and according to Idaho law. My name is Aubrey Richardson, and I also represent heirs, beneficiaries and other interested parties who may have a claim or dispute that requires legal counsel. In all matters related to probate or estate administration, I provide constructive and skilled legal representation to help resolve your issue as favorably as possible.
Probate In Idaho: What You Should Know
Probate is the formal court-supervised process of settling the estate of a deceased person. This involves identifying and appraising assets, filing tax returns, paying off valid debts, identifying heirs and beneficiaries, and distributing remaining assets to them according to the will or, in the absence of a will, according to state probate laws.
The most common form of the probate process in Idaho is the informal probate. This occurs when no controversies between heirs and beneficiaries complicate the matter, no creditor problems exist, and the process should run smoothly. This usually begins by filing an application with the court to act as the personal representative (executor) of the estate. Once approved by the court, you receive the legal authority to settle the estate, handling all of the matters listed above.
Once all property has transferred to the rightful heirs and beneficiaries, you will provide the court with a final accounting and a closing statement. The closing statement attests to the fact that all debts and taxes have been paid, property passed on, and the final accounting has been filed.
How Idaho Handles Estate Administration
Estate administration generally involves administering a trust as the named trustee and does not involve the courts. The trust documents will outline your authority. Generally, you will be responsible for passing on the trust assets according to the instructions in the trust document. You will also be responsible for paying expenses and taxes and be subject to other issues that the trust may detail.
In both probate and trust administration, having a trusted and reliable attorney to advise and guide you through the process can help to ensure that you complete it properly and that you fulfill your fiduciary duty so as to avoid any legal claims. However, in both processes, should legal claims arise, you will need our attorney’s representation to resolve any lawsuits in court.
Get The Ally You Need To Guide You Through The Process
You do not have to face the daunting task of administering or probating an estate on your own, where you could make expensive errors. Instead, contact me at Richardson Law, PLLC, to work with a knowledgeable attorney who can achieve your goals through practical solutions. Schedule a consultation, call my office at 208-516-3773 or send me an email today.