Planning Your Estate Is Step One. We Can Help You With Step Two: Administrating Your Estate.
Having a well-planned estate is essential for everyone, but it is especially important for individuals in their twilight years to ensure that their legacies are protected and that their wishes will be honored. However, this step in the estate life cycle can have its own set of challenges, as wills can be disputed by family members, and, rather than spending their time honoring the memory of their loved one, they could instead wind up fighting amongst themselves. That is where an experienced estate administration attorney can intercede and help you avoid this circumstance.
Managing An Estate Is A Serious Responsibility
At Elias Legal, we assist clients who are charged with executing a will or managing the assets in a trust. Being selected as an executor or trustee by your loved one is a significant responsibility, as you will be in charge of ensuring that the estate is properly managed while the distributions are being made and that all appropriate taxes and fees are paid for from the estate. That is why you need an experienced attorney to help you navigate these responsibilities, and our attorneys are ready to help you.
Understand What Pennsylvania Probate Court Is
When an individual dies with a will, then their estate will need to go through probate court so that the will can be verified and implemented. Pennsylvania offers two options for estates: a simplified and a formal option. The simplified option is available for estates of less than $50,000, excluding real estate and certain other specific exceptions. If the estate does not qualify for the simplified process, then it will need to be submitted to a formal probate proceeding.
If the will is without issue, then the executor can pay the probate court the filing fee, which is calculated based on the size of the estate. Next, they will receive a document called Letters Testamentary, which allows them to begin administering the estate and operating on its legal behalf. Notice of the will must be published in a local newspaper to notify beneficiaries and potential creditors of the estate being probated, and the executor can then proceed with distributing the assets and paying the necessary taxes and fees.
Contact Our Office Today For Help
If you are in charge of managing an estate or have questions about the estate administration process, then you can contact our attorneys at Elias Legal. Call our office at 724-972-4610 or complete our online contact form to send us a brief description of your issue. We offer free consultations and have a flexible scheduling system in place to request a meeting with us, so connect with us today.