Probate Documents Checklist
If you recently lost a loved one and are responsible for handling the estate, you will need to gather documents for probate. It helps to have a probate checklist of legal documents to avoid delays because of missing documents. This article provides some information you need to know about the probate process and documents that will be required as part of the probate checklist.
Understanding the Probate Process
Before getting into the documents you need for probate, it may be helpful to understand the basics of how probate works. Probate is a legal process that allows the probate court to oversee the distribution of the decedent’s estate based on the instructions outlined in their will.
The court will appoint someone to act as a personal representative or executor of the estate. If the will named someone as administrator, the court will approve them. Probate court provides the administrator with letters testamentary that show their legal authority to act on behalf of the estate. This document allows them to manage the decedent’s assets, pay bills, sell assets when necessary, and transfer title of real property to the new heirs.
The administrator will secure and take inventory of all assets. They must provide notice to all the heirs and any creditors who may have a claim against the estate. The administrator may need to publish notice in a local newspaper, depending on the requirements of the state probate law.
During the probate process, the administrator will pay any outstanding debts and creditor claims, file taxes for the estate and pay any estate taxes owed, and take care of other financial obligations for the estate as they come up. Once everything is completed, the personal representative will distribute the remaining assets to the beneficiaries according to the terms of the will.
To perform all their duties, the executor will need to find or complete certain documents. Without the specified paperwork, probate can be delayed.
Documents to Open Probate
The first set of documents you will need include those to open probate on the estate. You will need to provide a copy of the death certificate to the probate court in the county where the decedent lived. You will also need to present the last will and testament to the court. Often, the estate attorney has the will that the decedent signed as part of their estate plan.
If the decedent made their own will without the assistance of an attorney, it may be in their home or a safe deposit box at their bank. If you don’t know where the will is, you will need to find it. Probate will be delayed until the will is presented to the court.
If you cannot find the will or none exists, you can continue and petition to open probate without the will. The estate will be intestate, which means it will be distributed according to the laws of the state instead of the wishes of the deceased person.
To open probate, you will need to complete the correct form. It is usually known as a petition to open probate or similar wording. Many county websites include a copy online. If not, you will need to go to the local courthouse to get a copy of the petition to fill out.
Documents presented to the court to open probate:
- Death certificate
- Will
- Petition to open probate
Documents Needed for the Probate Process
Once probate has begun, the executor will need several documents to complete their duties. They will need to take inventory of the assets and personal property of the decedent. If you are working with a large estate this process can take several months./p>
Property of the Deceased
If you are the administrator of the estate, you will need to find all documentation showing that the property was owned by the deceased person and any other estate planning documents. If any of the assets were placed in a trust and being disputed, you may need to show the paperwork even though revocable living trusts aren’t included in a probate estate.
You may need to find titles to vehicles, the deeds to any real property, bank statements or other documents showing the person as owner of financial accounts or other investments. To pay any ongoing bills of the estate, such as utilities, rent or mortgage payments, car payments, income taxes, and more, you will need to find a document with the account holder, account number, or other information that will enable you to conduct business for that account.
Transfer of Assets
If the will stipulates that certain assets be transferred to the beneficiary, such as vehicles or real estate, you will need the titles and deeds to complete the transfer. For assets that designate a beneficiary, such as life insurance policies, bank accounts, and retirement accounts, you may need to provide the paperwork for those accounts which show the beneficiary.
Business Ownership
If the will stipulates that certain assets be transferred to the beneficiary, such as vehicles or real estate, you will need the titles and deeds to complete the transfer. For assets that designate a beneficiary, such as life insurance policies, bank accounts, and retirement accounts, you may need to provide the paperwork for those accounts which show the beneficiary.
Minor Family Members
If the decedent had any minor children, you will also need to provide guardianship documents as to which family members will assume responsibility for their needs. If the deceased left this information in writing, it may be included in a will or revocable living trust or in other documents as part of estate planning.
Inventory and Appraisal
Since the executor is responsible for taking inventory of the assets of the estate, they will need to keep records of what they find. For certain high-value assets, they may need to have them professionally appraised. They will need to have those appraisal valuations if the court should ask for them.
Debts and Expenses
You will also want to keep records of any debts and creditor claims you receive and proof where you have paid them, such as estate taxes. Keep a lit of funeral expenses and any medical bills for the decedent prior to their death.
If the decedent received any loans, you will need a copy of the loan agreements. You should also keep a list of ongoing bills that you will need to pay.
Reasons Why Documents are Necessary
Many of these documents won’t need to be presented to the probate court, but you should keep them on file anyway. If there are any disputes about the dispersal of the estate or how the executor is performing their duties, you want to be able to support all of your activities involving the estate. Probate court rules on any issues based on the evidence provided.
If you need to dispute any claims made against the estate, you also want to show that you have already paid those debts or that they weren’t valid. Some states require more detailed accounting while others only need a final accounting at the end of the probate processto close. You should also keep all receipts for any bills paid or any expenses you incurred while performing your duties
Probate is a complicated and lengthy legal process. Keeping a probate checklist can help you stay organized. However, you will also want to make sure you are following the laws of the state where the decedent lived. To protect yourself and the estate, you may want to work with a probate attorney who can help you meet the requirements of the probate court.