Deceased Estate Administration 10 Tips For First-time Executors Of Will-fifa14下载

Legal Deceased estate administration is a process which often overwhelms the executor of Will (or personal representative), especially for first-timers. So to make things significantly less .plicated, here are some tips and guidelines on administering estates for a decedent. 1. Have a file or folder to keep all important and relevant information, details and notes of .munications with relevant people. 2. Identify and list all of the assets and liabilities of the deceased – what he owned, how he owned (any joint owners?), and what he owed. 3. Get a certified copy of the Death Certificate or Registration of the Death from the Registry of Births, Deaths, and Marriages which can be obtained about two weeks after the death. 4. Find out if there is a Last Will. Locate it if there is one then secure it. Make sure the Will is not marked in any way. Do not staple any other documents with the Will or remove staples already attached to it. 5. If the decedent owned lots, shares, or other assets of similar value, know that it may be necessary to get a Grant of Probate or Letters of Administration that will be issued by the Supreme Court. Probate id obtained if there’s a Will with a valid personal representative. Otherwise, the executor should obtain Letters of Administration. Probate or Letters of Administration validates the appointment of the executor and gives him power to ad minister the estate. When making an application to the court of Letters of Administration or Probate, it is best to seek advice from an experienced solicitor. While an application could be made even without legal assistance, often it is more efficient to obtain the Letter or Probate under the guidance of an experienced solicitor. 6. If the decedent only owned a property as a joint tenant, an account in the bank with a low balance or a vehicle, it is often possible to transfer such items without undergoing Probate. If you’re not certain how to distribute these properties, it is best to consult with the bank, the department of transport for vehicles, or an experienced solicitor. 7. After obtaining Letters of Administration or Probate and therefore the authority to manage and distribute assets, it’s time to collect the assets. This step involves identifying yourself to the relevant holders or registration authorities of the properties and other assets as the one authorized to administer estate. Arrange to have the properties .e under your control. It can be through physical possession or registration as the administrator of the assets. 8. Settle liabilities and necessary expenses such as funeral arrangements, in accordance with law. Fund such expenses using the estate itself. 9. Contact and coordinate with the heirs and other beneficiaries named in the Will. Make sure you meet with them personally to discuss important matters regarding the estate and the distribution of assets. 10. Distribute the assets in accordance with what are stated in the Last Will (if a valid one exists) or the law whenever applicable. About the Author: 相关的主题文章: