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Probate

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Probate

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What is probate?

Probate is the legal process of administering a deceased
person’s estate. People typically write a last will and testament to state
their wishes and instructions regarding their estate. The probate process
involves contacting the local court office and filing petitions to become the
personal representative of the estate. 

Your Property Masters have a Certified Probate Specialist
in-house, Sarah Yockey.

 

She is the realtor to call if you are a petitioner or
attorney with an estate in probate and you’re looking to get it off of your
hands.

The probate process can be overwhelming, and you might not
be in the right head space to have to handle it. That’s where we come in.

 

The Probate Timeline

Step                                                                                                                             Duration

Prepare and File
Petition Probate

1-2
months

Court  hearing on the petition for probate

2-3
months

The following are
issued. letter of administration ,order for probate, duties and liabilities, issue
bond (if ordered)&** letters testamentary **

2-4
months
(if not contested)

Notice to Creditors

2-4
months

Notice to Department of
Health Services Inventory & Appraisement

4-8
months

Pay state and Federal
Taxes ( if necessary)

6-12
months

Allow or Reject
Creditor Claims

 

Possible Preliminary
Distributions

 

Notice to Department of
Health Services (if deceased received medical)

 

Notice to Franchise Tax
Board (if heir is out of state)

 

Claim of Exemption (if
assets transfer to a minor)

6-15
months

Receive Final Tax
Letter from state and Federal (if appropriate)

6-18
months

File Petition for Final
Distribution and Accounting

8-16
months

Hearing on Petition for
Final Distribution and Accounting

 

Order Approving Final Distribution
and Accounting

 

Distribution  of Assets to Heirs

9-17
months

Final Discharge Order
(indicates close of probate case)

9-18
months

Final Distribution of
Funds

9-18
months