It can be extremely difficult for your Pennsylvania family when a loved one passes away. In addition to the grief you are experiencing, you may also have to walk through the process of settling his or her estate. Estate administration can be complex, especially if you are acting as the executor.
You may find it helpful to seek guidance as you walk through this potentially complex process. The steps you have to take in order to finalize the estate and move forward can be confusing and complicated, but with help, you may be able to avoid complications and move forward to a beneficial outcome in a timely manner.
The steps of administering an estate
The executor of an estate has various obligations and responsibilities he or she must meet in order to resolve the process. Estate administration essentially means collecting all estate assets, ensuring their proper management, then distributing them as outlined in the will.
A person has the right to name an individual as the administrator of his or her estate, which means that your loved one may have appointed you to have the responsibility of settling the estate. Each situation is different, but the following are some issues you may have to address:
- Dealing with probate: Probate is not necessary in every case, but if it is, it can either be formal or informal. This depends on the complexity of the estate and any disputes over the terms of the will.
- Taking inventory: As the estate administrator, you will have the responsibility of taking a complete inventory of all estate assets. This includes physical property and financial accounts.
- Distribute assets: You also have to ensure that all assets go the appropriate parties and beneficiaries as outlined in the will.
Administering an estate is an immense responsibility, and you may be unsure of how to navigate this process. You do not have to walk through it alone.
The help you deserve
As the administrator of an estate, you will want to avoid complications and missteps, as these can add additional stress and lengthen the process. By having an experienced legal ally by your side, you can effectively address what needs to be done and move forward as quickly as possible.
Before you move ahead with the process, you may find it beneficial to seek a complete evaluation of your case. This can help you understand your responsibilities and what has to be done to settle and finalize an estate.