The Time Burden of a Probate Executor

The Executor of an estate has 75% of the work to do in a probate situation.  It's a huge time burden for those individuals who have this responsibility.  In addition to a job and your own family, the first thing an executor/attorney will do is file a petition to probate.  That's the easy part.  Here is a timeline on the process.

Step in Process Duration

Prepare and File Petition Probate	1-2 months
A 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 the heir is out of state)
A 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

In addition to the process above, if there are assets (property) to sell, then the home needs
* cleaned out
* personal property needs to be sold, auctioned or donated
* repairs need to be made
* the lawn needs to be kept up
* locksmith to rekey the property
* different insurance needs to be purchased if the home is vacant
* interview realtors
* review offers
* make any repairs the buyer may want to be done, if applicable

* transfer the deed to the new buyer

* figure out what to do with the proceeds

All these things and more can be expected of an Executor.  Other than an Attorney, your most valued resource will be a real estate team that is trained and experienced in probate and inherited property sales.  Your time is valuable and do you have the resources that my team does?  You need a probate resource!

Go to my website for additional information that our team can do for you:
www.turnkeyrealtyco.com/probate
Or contact me at 970-672-6069 for help