Estate Administration

 

For generations, Fletcher Tilton has worked with individuals and families during the difficult time following the death of family member or friend. It is common to face with a sense of uncertainty and confusion the daunting realities of how to manage the property interests of the decedent. The lawyers and estate administration paralegal staff in the estate administration practice of Fletcher Tilton provide a clear and orderly path forward. While each estate is unique according to the decedent’s estate plan, the estate administration process contains the common elements of identifying the assets and property interests of the decedent; determining whether and what type of Probate Court administration is necessary and appointing a Personal Representative; identifying and paying the debts and liabilities of the estate, preparing and filing necessary tax returns and preparing a final accounting and distribution of estate assets to the appropriate beneficiaries.

Throughout the estate administration process, the lawyers and paralegals guide the Personal Representative on a variety of decisions impacting the estate and the beneficiaries of the estate. These decisions may involve, for example, making certain tax elections; selling or retaining estate assets; maintaining proper communication with creditors, beneficiaries and other interested parties of the estate; and selecting the timing of asset distributions. The depth of experience possessed by the lawyers and estate administration paralegals enables them to provide the Personal Representative a clear set of options and recommendations in making these decisions. After all, most people only serve as Personal Representative of an estate once or perhaps a few times in their lives. The decades of experience offered by the lawyers and paralegals at Fletcher Tilton provides peace of mind throughout the estate administration process.

In many situations, it is advisable for the surviving spouse to evaluate the need for adjustments to his or her estate plan during the estate administration process. It is common for a married couple to have named each other as a fiduciary in such documents as a durable power of attorney, health care proxy, trust, will and HIPPA release. An evaluation of the surviving spouse’s estate plan permits for a review of who, if anyone, was identified as the successor to the now deceased spouse and whether that successor remains a suitable choice. This review also helps identify needed revisions related to future estate tax liability, asset protection from the cost of long-term care and a host of other issues pertaining to the future protection and enjoyment of family wealth.