The term probate means administering the affairs of a deceased person. The law ensures that all creditors of the deceased get their dues, the property and the assets are distributed among the heirs lawfully and any dispute related to the estate is amicably resolved. There are certain procedures to be followed when you are dealing with a probate.
Begin with a petition
The first step would be to file a petition to open the estate. Any probate will begin with a petition or a request to open the estate. A personal representative will be appointed to handle the affairs in the estate. The personal representative can be a family member, friend or corporate entity. The representative will be legally bound to administer the estate of the deceased fully complying with the laws of the land. The court will then instruct the clerk of the court issue ‘letters’ that will reflect his appointment. These letters will provide evidence to third parties to act on behalf of the estate.
Notice to creditors
A legal notice must be published that will declare the opening of the probate estate and the legal appointment of the personal representative. The representative will also have the duty to mail a copy of the published notice to all creditors of the decedent. If the creditor has already filed a claim against the estate or has been paid then such notices need not be delivered to him. Again a separate affidavit must be filed to close the estate wherein it must be stated that all requirements have been complied with hence the court can order the closure of the estate.
Inventory
You are required to make an accurate inventory of the deceased and file it with the probate court. The inventory needs to be verified by you in front of the clerk or any person authorized by the Law. The oath can also be taken before a notary public. There are certain exceptional situations when the will of the deceased clearly states that there is no requirement for making and filing an inventory of the estate. In such cases the representative may not prepare an inventory unless required by the legatee.
Notice to beneficiaries
The next task of the personal representative would be to notify each legatee that such person is a beneficiary in the following manner. This notification should be sent by first class mail or by personally handling over the mail. The mail should consist of a complete copy of the will, a copy of the paragraph of the will containing the bequests to the beneficiaries, a copy of the letters of administration and a complete copy of the will to a trustee. The trustee will then be obligated to send the copies to trust beneficiaries. Within sixty days (after entering the administration) the personal representative will also file an affidavit with the Clerk of the Court stating that the required copies have been mailed.
Accounts and settlements
The personal representative, within 15 days from the date of the qualification, is required to make an accounting with the court. He is bound to make further accounting every year from the date of the first accounting till the estate is fully administered. The accounting will include the assets remaining with the estate, the detailed receipts and income for the said period. An oath is taken before the clerk or any person authorized by the law to verify the contents of the accounting. But all these detailed accounting can be waived off if all the distributees file waivers with the court excusing the representative from filing court accounting.
