Probate Process and Other Information

The Process

Initially to begin the probate process, Lacy Kimball Law will file an application for administration.  If there is no will, this application will be joined with a request for judgment of heirship determination. 

• If there is a need for a determination of heirship, an attorney ad litem will be appointed to investigate the application and speak to two disinterested (not inheriting) witnesses that knew the Decedent.

After the application has been on file the sufficient amount of time and has been served or waivers of service are obtained as necessary, we can schedule a court hearing.  The court hearing is generally very short.  If a Will is being offered to probate, only the executor is usually necessary.  If a judgment of heirship is needed, the applicant (you) and the two disinterested witnesses must be available to testify. 

Once the Judge appoints you as executor/administrator, the work begins.

On the side of Lacy Kimball Law, we will handle many aspects of the probate for you.  There are some actions you will have to take and some tidbits that are helpful to you in this process.

The Basics

            As an executor or administrator of the estate, it is your responsibility to:

• Gather or collect assets of the estate

• Notify the beneficiaries of the estate

• Notify the creditors of the estate

• File and Inventory or Affidavit in Lieu of Inventory with the court

• File an affidavit or certificate that the beneficiaries have been notified

• Pay the debts of the estate from estate funds (if necessary)

• Distribute the assets to the beneficiaries.

Timeline: (all items denoted with an * will be completed by Lacy Kimball Law on your behalf)

1. Application for probate within four years of death

2. Appointment as executor/administrator

3. Lacy Kimball does not give tax advice.It is recommended to consult with a CPA to determine if a final return is needed and if an estate return will be needed.

4. You will be authorized to collect the estate.Your duty is to take care of the estate property as a prudent person would take care of his/her own property.Collecting the estate does not always mean gathering the property and moving the location of the property.Discuss with Lacy Kimball about what steps you need to take.

5. 30 days- Publish notice to creditors in the newspaper and provide proof of publication*

6. 60 days- Provide notice to secured creditors*, provide notice to beneficiaries*

7. 90 days- File Inventory or Affidavit in Lieu of Inventory (this process takes a while, so get started as soon as you are appointed), file certificate of notice to beneficiaries*

8. 100 days- The court will approve the inventory after it has been filed for at least 10 days.After approval of the inventory, we may being to distribute the estate

9. Claims- if a claim for a debt is made on the estate, the claim may need to be paid.Lacy Kimball can help you make that determination.Failure to pay a valid claim could result in liability to you personally and liability of the beneficiary to the debtor.

Tips

            You must keep a complete accounting of the estate- EVERY PENNY.  Keep all receipts.  Do NOT commingle any of your funds with estate funds. 

            Do NOT commingle any of the Decedent’s funds that were payable on death to a beneficiary with the estate funds.

            It may be necessary to sell items.  Prior to selling any item, consult with Lacy Kimball first to get approval for your authority to do so.

            Taxes- Consult with a  CPA to determine if tax filings are necessary. 

            Compensation- in the law, there is a statutory compensation for the executors/administrators of 5% of receipts and disbursements.  There are many specifics and limitations on what qualifies as a receipt or disbursement.  Keep a complete accounting of all payments you made on behalf of the estate and assets and funds collected for the estate to calculate your final compensation.