Settling an estate without a will is very common. As an estate increases in value and complexity, the process tends to take longer. Here’s a guide for families and executors/administrators.
0:00 Introduction
0:23 Get appointed as administrator or personal representative of the estate
0:37 Distribute the remaining assets to family, heirs or beneficiaries
0:42 Terminate or close the estate
0:46 How do I settle an estate?
1:41 How do you settle an estate without a will?
1:54 Get a copy of the decedent's death certificate
1:57 File a Petition for Probate at the decedent's county probate court
2:04 Attend your Probate Hearing
2:17 Identify, record and gather all the decedent's assets
2:22 Pay the decedent's outstanding debts and taxes
2:26 Account to the court and seek an order for final distribution
2:38 As per the court order, pay yourself as Administrator of the Estate and your counsel
2:47 Distribute remaining assets to family, heirs, and beneficiaries, per the court order
2:59 Is it more difficult to settle an estate without a will?
3:46 How long does it take to settle an estate by myself?
4:45 Can I settle an estate FASTER with a probate lawyer?
5:08 Can you settle an estate without probate?
5:26 How long does an executor
5:57 How long should I keep records after an estate is settled?
6:09 What are the average legal fees for settling an estate?
6:45 Petition for Probate Fee: $300500
6:52 Probate Court Documentation Fee: $50100
6:58 Estate Account Setup: $0250
7:07 Closing Estate: $300500
7:13 What does a lawyer get paid for settling an estate?
8:03 Do I need a lawyer to settle an estate without a will?
8:48 When should I contact an estate attorney?
9:21 Do I need an estate attorney near me?
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What does it mean to “settle an estate”?
When a person passes away, their assets must be distributed to their family, heirs, or beneficiaries according to the person’s will or trust. If they don’t have a will or trust, the state probate code, as enforced by the county probate court, will dictate how the assets should be distributed – i.e. how the estate should be “settled.” Settling an estate includes the following steps:
1. Get appointed as administrator or personal representative of the estate
2. Identify, record and gather all the decedent’s assets
3. Pay the decedent’s outstanding debts and taxes
4. Distribute the remaining assets to family, heirs or beneficiaries
5. Terminate or close the estate
How do I settle an estate?
If you are the administrator of an intestate estate (an estate without a will) or an executor of the estate (an estate with a will), you can settle the estate yourself by following the probate code (if no will) or decedent’s directives contained in will (if there is a will), while going through the probate process as prescribed by the state probate code as administered in the decedent’s county probate court.
When should I contact an estate attorney?
Contact an estate attorney or probate attorney as soon as you can after the death of a loved one. The estate attorney or probate lawyer will help you do everything from locating the will, to filing the petition for probate, setting up the estate account, identifying and gathering assets, identifying heirs and beneficiaries, negotiating and paying debts, accounting, distributing assets, and closing the probate. And remember, they work to a standardized set fee, which is paid by the estate. So, it costs you, effectively, nothing.
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About RMO Lawyers:
RMO LLP serves clients in Los Angeles, Santa Monica, Orange County, San Diego, Kansas City, Miami, and communities throughout California, Florida, Missouri and Kansas.
Our founder, Scott E. Rahn has been named “Top 100 – Trust and Estate Litigation” by SuperLawyers, Trusts and Estates Litigator of the Year, and Best Lawyers in America for Litigation