A will must be probated in order to be declared valid. A will that is sitting in a drawer at home won't be of any help to the beneficiaries!


Probate is the process of proving the will in court. The "Applicant" (the person who filed for the probate) offers testimony. The Applicant is usually also the Executor. The judge then issues an order declaring it to be a "valid" will.


A female Executor is known as an "Executrix."


If the will names the Executor/Executrix as an "Independent" one, that means that there will be minimal involvement by the court. This makes the probate process more efficient and less costly. If the will does not specify, in some cases, the Executor can still ask for, and be granted, an Independent Administration.


Once the will has been probated and the Letters Testamentary issued, it is time for the Executor to gather the assets, pay the debts and then distribute the remaining property.


If you have been appointed as Executor/Executrix and have been to your final hearing, you can use this general checklist to keep you on target.

 

    1.  Be sure to order enough copies of the Letters Testamentary and Death Certificates.  You will usually need to part with one copy of each in order to transfer each bank account, retirement account, investment account, and life insurance policy.  You can contact the various benefit plans, financial institutions, and insurance companies in advance to have necessary packages with transfer forms sent to you.

 

    2.  Be prompt with any documents that must be filed with the probate court after the final hearing. If you have an Independent Administration, there will be minimal paperwork. If you have a Dependent Administration, there will be much more work to do. There are strict deadlines for these actions, which will include some or all of the following; preparing an Inventory and Appraisement, giving proper notice to creditors and beneficiaries, and filing certain affidavits. If you have been represented by a lawyer in the case, communicate with your attorney about the details of what you will need to complete.

 

    3.  Once you get your Letters Testamentary, you may need to set up a bank account for the estate. You will place the funds that belong to the estate in this account, and will make disbursements from it.  Get a Federal Tax ID number for the estate, when indicated. (if you are the surviving spouse and sole beneficiary some of this may not apply to you.)

 

    4.  Be sure to pay the creditors of the estate prior to making final distributions to the beneficiaries.   You may be able to negotiate certain debts of the estate.  Review credit card charges and medical bills to be sure they are accurate.

 

    5.  Get documents prepared to transfer title to property. This includes items such as real estate, vehicles and boats.  File these documents with the proper governmental authority and be sure that the way you are handling it shows a "clear title" to the ultimate beneficiary of the property.

 

    6.  Finally, be sure to keep good records, even if you are the estate's sole beneficiary. 

 

If you need help, don't hesitate to ask your attorney, accountant, or banker to assist you.