06 Dec 05 – Understanding the Fundamentals of Estate Administration (Probate)
By: Barry E. Haimo, Esq.
December 6, 2017
Understanding the Fundamentals of Estate Administration (Probate)
Estate administration (or Probate) is the process of winding down a deceased’s legal estate. It involves deceased’s ABCs, or assets, beneficiaries and creditors. Even simple estates can take time and incur costs, especially where there are complications with the assets, beneficiaries and/or creditors. That’s because all interested parties must be notified and court intervention is required at nearly every step. It’s important to understand the fundamentals of estate administration (or probate) because that lends itself to learning how to avoid it cost effectively.
THE INFORMATION CONTAINED HEREIN IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. EACH SITUATION IS HIGHLY FACT SPECIFIC AND REQUIRES A CONSULTATION TO UNDERSTAND SUCH FACTS AND THE CLIENT’S NEEDS AND GOALS. ACCORDINGLY, NOTHING CONTAINED HEREIN CONSTITUTES LEGAL ADVICE.
Barry E. Haimo, Esq.
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