Estate administration is the process of collecting and managing the estate, paying debts and taxes, receiving income, and distributing property to the heirs of the estate. Depending on your level of need, our services can include, but are not limited to:
- Finding, valuing, and managing the deceased person's assets. This can include selling assets such as securities, automobiles, real estate, jewelry, and art.
- Deciding if probating the last will and testament in court is necessary. If determined to be necessary, ensuring that the will is filed in the appropriate probate court.
- Finding and contacting the people who are named in a will or trust who are supposed to inherit money or property.
- Wrapping up the deceased's affairs. This can include everything from canceling credit cards that are still open to notifying banks and utility companies about the death of the individual. In addition, if the deceased person was collecting Social Security and/or Veterans benefits, the Social Security Administration and/or Veterans Administration should be contacted.
- Setting up a bank account for the estate. Setting up a bank account in the name of the estate can make paying off debts to creditors easier.
- Continuing necessary payments. The funds in the estate's bank account can be used for making mortgage, insurance, and other recurring payments that need to be paid during the administration of the will or trust.
- Ensuring deposits and dividends are paid to the estate.
- Paying off debts and creditors.
- Paying final income taxes.
- Ensuring property distribution in accordance with the deceased's will and/or trust.