Where to Start with Probate?

02 Feb Where to Start with Probate?

If you find yourself with responsibility for the probate of someone’s estate following their death, the starting point is the collection of relevant information.  That information about the estate will determine what actions then need to be taken.

The relevant information for understanding the estate includes:

1. Is there a Will, or not? A Will, if one exists, usually provides instructions on who is to be the Executor of the estate and how property is to be distributed (after the payment of decedent’s debts and the costs of administration).  If there is no Will, state law will provide instructions on those issues.
2. Who are the decedent’s next of kin and any other beneficiaries identified in a Will, and their relationships to the decedent?
3. What property did the decedent own at death (to the extent known at this time)? This list should include all property in which decedent had any interest, including things like life insurance, retirement accounts, and other items that may only pay after death.
4. What are the values of each of these items? That may not be fully known or discoverable at this point.  The probate process often includes discovering additional assets and their values.
5. For each of the property items, what was the decedent’s interest? Those interests might include sole ownership, joint ownership with another (and then we need to determine if that is with survivorship rights), or partial ownership (such as a 50% interest in a business).  Also, some property items have their own beneficiary designations, such as life insurance policies, retirement accounts, pay-on-death designations for some bank and investment accounts, and possibly other items.  This information might not be fully known at the outset and will be investigated as part of the probate process.
6. What debts do you expect decedent may have had at the time of death? This can include items such as utility bills and other day-to-day expenses, rent and mortgage obligations, car lease or loan obligations, credit card debt, medical expenses, and many other things.  This information likely will not be fully known at the outset and will be investigated as part of the probate process.  However, the existence of significant debt, especially if the debt is large as compared to the value of the decedent’s assets, can present challenges that need to be considered at the beginning of the probate process.
7. Was the decedent subject to other contractual obligations that need to be considered? Examples can include a buy-sell agreement with a business co-owner that is triggered by decedent’s death, or a real estate purchase and sale contract signed during life but that has not closed prior to death.
8. What are the family dynamics, and might those present additional issues or challenges to the probate process?

As this list may suggest, each estate is unique.  Some are simple and straight-forward, others are more complex, and some can be very challenging. We are happy to help you with any of these estate situations. For more information about the Kentucky Probate Process, click here.

The process of probating an estate can be unnerving, especially for those who have never experienced this before. We can help take the stress and anxiety out of the probate process. For more information about our Probate Lawyer Services, click here.