Probate and Trust Administration in Spokane Valley
Have you recently lost a loved one? If you’re confused about probate and trust administration, get the help and guidance you need at Steven Wee Law Office Spokane. We’ll take you step-by-step through the court-managed process. Our clients are our number one priority. We’ll help make this difficult time as straight forward as possible, so you can focus on what’s most important.
Understanding Probate and Trust Administration
When a loved one passes away, his or her estate often goes through a court-managed process called probate, estate administration, or trust administration, where the assets of the deceased are managed and distributed. If your loved one owned his or her assets through a well drafted and properly funded living trust, court-managed administration will probably not be necessary. However, the successor trustee will need to administer the distribution of the deceased’s assets. The length of time needed to complete the probate of an estate depends on the size and complexity of the estate and the local rules and schedule of the probate court.
Every Probate Estate is Unique
At Legacy Law Group Spokane, we understand that every probate estate is unique. No two situations will ever be identical, which is why it’s so important to seek legal assistance when necessary. In general, however, these are the steps you can expect will be taken:
- Filing of a petition with the proper probate court.
- Notice to heirs under the will, or to statutory heirs (if no will exists).
- Petition to appoint executor (in the case of a will) or administrator for the estate.
- Inventory and appraisal of estate assets by executor/administrator.
- Payment of estate debt to rightful creditors.
- Sale of estate assets.
- Payment of estate taxes, if applicable.
- Final distribution of assets to heirs.
The Cost and Duration of Probate
The cost and duration of probate can vary substantially depending on a number of factors, such as the value and complexity of the estate, the existence of a will, and the location of real property owned by the estate. Will contests or disputes with alleged creditors over the debts of the estate can also add significant cost and delay. Common expenses of an estate include executor’s fees, attorney’s fees, accounting fees, court fees, appraisal costs, and surety bonds. Most estates are settled though probate in about 9 to 18 months, assuming there is no litigation involved.
If you have questions about or need assistance with the probate process, contact us right away. We have the experience and expertise to assist you with estate administration every step of the way. Additionally, we offer estate planning and business law services as well.
Probate and Trust Administration
Serving the communities of Spokane, Spokane Valley, Liberty Lake, Deer Park, Nine Mile Falls, Airway Heights, Cheney, Mead