Estate Settlement

Estate Settlement

 

Sometimes estate settlement  is one of the hardest aspects of dealing with the death of a family member. This doesn't have to be the case if proper preparation of all estate documents took place prior to the death. If you have the services of an experienced estate lawyer  at your disposal, there can be even less worry and strife.


What is an Executor?

 

The executor (or executrix) has full responsibility with regards to the funeral arrangements of the deceased. If so desired, the executor can change anything with reference to those arrangements. This is the person all funeral homes take directions from.

 

The executor, also commonly referred to as the personal representative or administrator of the estate, is responsible for gathering and doing inventory of all the deceased’s property at the time of death, determining all outstanding debts, paying all legitimate debts, and then distributing the remaining property and assets to the beneficiaries in accordance with the instructions provided in the Will.


What is Probate?

 

Probate is a legal process where the designated executor applies to the Superior Court to accomplish several things. The primary function of probate is to prove that the will is valid and legal, in order to distribute the property to the heirs as the will instructs. Many estates do not have to be probated.

 

The probate process

 

Typically, the person named as the deceased's Personal Representative (a more formal term is "Executor" or "Executrix") goes to a lawyer experienced in probate matters who then prepares an application and files it, along with the Will, with the probate court. 

 

The lawyer for the person seeking to have the Will admitted to probate typically must notify all those who would have legally been entitled to receive property from the deceased, and give them an opportunity to file a formal objection to admitting the Will to probate. If no objections are received, and everything seems in order, the court approves the application.

 

The duration of the probate process varies with the size and complexity of the estate. Usually, in a straightforward case, it takes approximately 6 to 8 weeks. However, if a Will is contested, or anyone objects to any actions by the Personal Representative, the process can take a long time, even several years to resolve.


What Happens When There is no Will?

 

When someone dies without leaving a valid will (dated, signed and properly witnessed), he or she has died intestate and a court shall decide who should receive the deceased's assets. The property must go through the probate process in order to have the legal title to the property transferred to the heirs at law. The laws of the province where the deceased lived control the distribution of the deceased's personal property. 

 

The rules for determining who gets property distributed from an intestate deceased's assets have many variations. Subtle differences between the rules can have a material effect on who inherits when there is no will. It won't matter what your familial relationships were really like: the court will award property and cash to the survivors based solely on their legal relationship to the deceased.

 

When someone dies intestate, this also means there is no specific person responsible for making their funeral arrangements. This can make coordination of funeral details very difficult and often leaves hurt feelings if everyone does not agree.

 

All this can be avoided, if you take care of things ahead of time. When you leave documents that clearly state who you wish to get your property and cash after you die, you better support your survivors in coming to terms with your death without leaving them with a lot of unnecessary distress.

 

Hiring a Lawyer

 

Losing a loved one can be an overwhelming experience and when you add in estate settlement issues, the months following the death can be much more than anyone bargained for. While there is no requirement to use a lawyer’s services, probate is a rather formal procedure. One minor omission, one failure to send a distant heir a copy of the petition, or a missed deadline, can cause everything to come to a grinding halt or expose everyone to liability. That's when it might be advantageous to hire a lawyer.



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