When you are planning your estate, you should understand the estate administration process that will commence after your passing. This will sometimes involve probate, and we will provide some important facts about this process in this post.
Court Supervision
Most people are aware of the fact that an executor is the person that will eventually distribute inheritances when a will is used as an asset transfer vehicle. The executor is not allowed to administer the estate without any type of government supervision.
A will would be admitted to probate, and the probate court would supervise while the executor is handling the estate administration tasks.
It would not be fair for the inheritors to receive their bequests before debts have been paid, so creditors are notified, and they have a chance to seek payment. The executor will also pay final taxes while the estate is being probated.
In order to do this, an estate bank account must be established, and the executor will obtain an Employer Identification Number that will give them the ability to set up the account.
The court will determine the validity of the will, and if anyone wants to present a challenge, they would have that opportunity during probate.
When all the necessary tasks have been completed to the court’s satisfaction, the estate will be closed, and the inheritors will receive their bequests.
This court will also provide supervision when someone passes away without any estate planning documents at all. They would designate a personal representative to assume the same role as an executor.
At the end of the process, the send us a message to request a consultation appointment, and we can be reached by phone at 860-548-1000.
Mr. Nirenstein is licensed to practice before the courts of the State of Connecticut and the United States District Court. He is a member of the Connecticut and Hartford County Bar Associations, and the Estate and Probate, Elder Law, Business Law and Real Estate Sections of the Connecticut Bar Association.
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