Page 36 - Vander Plaat Caggiano

Depending on on who the the named beneficiaries are how long before the the the the the death the the the the Will Will was was signed whether the the the the Will Will Will was was prepared by an attorney who supervised the the the the “execution” of the the the the Will Will Will and/or whether the the the the Will Will was executed with certain affidavits it it it it may be necessary to bring in in in the the the persons who witnessed the the the deceased’s signature on on the the the Will If no objections are received and everything seems in in in order the the the court approves the the the petition appoints the the the Personal Representative orders that taxes and and creditors be paid and and requires the the the Personal Representative to to to file reports with the the the court to to assure all the the the deceased’s property is is accounted for and distributed in accordance with the the terms and conditions of the Will Question #5 Who is responsible for handling probate?
In most circumstances the the the executor named in the the the the will takes this job If there isn’t any Will Will or or the the the the Will Will fails to to name name name an an an executor the the probate court names someone (called an an an administrator) to to to handle the the the process - most often the the the closest capable relative or the the the the the person who inherits the the the bulk of the the the deceased person’s assets If no no formal probate proceeding is necessary the court does not appoint an an estate administrator Instead a a a a a a a a a a a a close relative or or or or friend serves as an an informal estate representative Normally families and and friends choose this person and and it is is not uncommon for several people to share the responsibilities of paying debts filing a a a a a a final income tax return and distributing property to to the people who are supposed to to get it Question #6 Should I plan to avoid probate?
Probate rarely benefits your
beneficiaries and and it always costs them money and and time Probate makes sense only if your
estate will have complicated problems such as as many debts that can’t easily be paid from the property you leave Your property may even fall under probate exemption but if if you’re older (say over 50) in ill health or own a a a a a a a significant amount of property you’ll probably want to to do some planning to to avoid probate Page 36 - - VANDER PLAAT-CAGGIANO FUNERAL HOME VANDER PLAAT-CAGGIANO FUNERAL HOME - - Page