Once the value of estate is determined, the responsible person can determine which type of probate case is required. Then, an attorney will prepare documents for the responsible person to sign, and submit them to the court. If there is a will, the original will be filed with the court clerk’s office. Then, the attorney requests a hearing to prove that the will is valid and notifies all interested parties about the case. If the will is proven, the court will appoint an executor. If there is no will, the court will appoint a personal representative or administrator.
In formal probate cases, the personal representative will swear under oath to act in the best interest of the estate. The oath will be recorded on a document called Letters Testamentary or Letters of Administration. The letters allow the responsible for person to act for the estate, doing things like closing financial accounts, signing a listing agreement to sell real property, and hiring professionals such as accountants and appraisers.
Then, an inventory of the estate must be filed with the court to show the starting value of all of the assets. To close probate, a final accounting will be required to show the court how much money was received for the assets if they were sold and how the assets will be distributed.
After the final distribution, it is best practice to wait thirty days before distributing assets because there is a thirty day window to file an appeal by a creditor or heir. If this type of dispute is filed, and the creditor or heir wins, you need to have the assets safeguarded to distribute properly.
Receipts should be collected from people and companies who received estate assets.