The death of a loved one can be a period of intense emotional transition. While you are adjusting to your loss, Laura Kennedy can help you navigate the unique circumstances of your loved one’s estate.
“Probate” is the legal process of proving a Will is valid, although the term is often used to refer to the larger process of estate administration.
Administering an estate involves the court appointing an executor (if there is a Will), paying debts, filing and paying estate taxes if applicable, collecting assets and distributing the assets according to the Will.
Each estate is unique. Laura can help determine whether probate is necessary and how to most efficiently handle the estate administration. She will work closely with your financial advisor and CPA, if applicable, to ensure that the terms of the Will and/or trust are carried out.
Some elements of estate administration include:
- Submitting the Will and a properly prepared application to the appropriate court for probate;
- Securing the appointment of an executor;
- Fulfilling all court-ordered duties of an executor or administrator;
- If the decedent died without a Will (“intestate”), determining the best strategy for efficient administration and recognition of intestate heirs;
- Collecting the decedent’s assets and paying debts such as income taxes, funeral expenses and final medical expenses in accordance with the creditor priority rules as set forth in the Texas Estates Code;
- Transferring assets to beneficiaries and/or trusts in accordance with the Will;
- Preserving, liquidating and/or distributing an estate’s business interests as well as making any applicable tax elections; and
- Undertake post-mortem planning if advisable.