We Help Families Efficiently Transfer Assets After a Death While Minimizing Conflict and Wealth Transfer Taxes
The passing of a loved one is one of the most emotionally trying times you will ever encounter. The last thing you need during this difficult time is a glut of legal problems. At Ruyle & Ruyle, we help clients through the probate process and assist clients with every aspect of estate administration.
Whether you need help with a will or administering a trust, we provide dedicated, hands-on representation so you can make informed decisions about your loved one’s estate.
When a loved one passes away, his or her estate often goes through a court-managed process called probate or estate administration where the assets of the deceased are managed and distributed. If your loved-one owned his or her assets through a well drafted and properly funded living trust, it is likely that no court-managed administration is necessary, though the successor trustee needs to administer the distribution of the deceased’s assets. The length of time needed to complete the probate of an estate depends on the size and complexity of the estate and the local rules and schedule of the probate court.
Every probate estate is unique, but most involve the following steps:
- Filing of a petition with the proper probate court.
- Notice to heirs under the Will or to statutory heirs (if no Will exists).
Petition to appoint Executor (in the case of a Will) or Administrator for the estate.
- Inventory and appraisal of estate assets by Executor/Administrator.
- Payment of estate debt to rightful creditors.
- Sale of estate assets.
- Payment of estate taxes, if applicable.
- Final distribution of assets to heirs.