Estate Administration is the legal process by which a person’s debts are paid and assets distributed upon death. Estate administration includes the probate process as well as the administration of trusts and other non-probate transfers to ensure the estate is distributed appropriately and with a minimum of tax impact.
Services may include:
» Probate of wills, collection of decedent’s assets, payment of debts, calculation and payment of estate taxes, trust funding and asset distribution;
» Advice to minimize estate and income taxes for the estate and its beneficiaries;
» Advice regarding timing and structure of sale or disposition of estate assets, to include business interests; and
» Preparation of Federal and State “Estate Tax” returns, which are required for all estates over a certain exemption amount (see Estate Tax), which is $1.5 million in 2005 (generally including life insurance).
Post Mortem List