Summary
If you are responsible for settling someone's estate, I can help you assess the situation and chart an appropriate course of action.  Then I can provide you with the necessary assistance in the opening, administering, distributing and closing of the estate.  I have assisted clients with a wide range of situations, including estates:
     •  With and without Wills;
     •  Having Trusts, both revocable and irrevocable; and
     •  Which range in size from insolvent, small, midsize and large, taxable estates.

Introduction
Just like the person who has passed away, each estate is unique because of a variety of variables, such as the:
     • terms of the Will, Trust or other legal documents involved;
     • types of assets;
     • how the assets were owned;
     • size of the estate; and
     • capabilities of those responsible for settling the estate.

The laws in Washington State offer a variety of ways to settle an estate. Generally speaking, an estate is settled by either a non-probate process or a probate process.

Nonprobate
One of the initial steps of settling an estate is to analyze the assets and how best to distribute the assets to the ultimate beneficiaries. Many or perhaps all the assets in an estate may be distributed without going through a probate procedure. Typical examples of assets that can avoid provide include a:
     • trust that holds or owns assets;
     • bank account with another person jointly with rights of survivorship; and
     • life insurance policy with one or more designated beneficiaries.

If assets cannot be distributed through a non-probate, they may be subject to probate. However, the estate might be handled as a small estate as described below.
  

Probate
The word “probate” often strikes fear in the hearts and minds of many clients. They have read articles in magazines and newspapers, watched financial programs on television and heard horror stories from family members or friends. They are convinced that probate will take years to complete and the high costs will erode the estate.

These clients are relieved to learn that Washington State has one of the most modern and progressive probate procedures in the nation, and it is not to be feared. Most probate estates are settled by opening the matter at the appropriate Superior Court through filing a simple petition and the Will, if any. The person responsible for settling the estate, known as the Personal Representative, will be given authority by the Court to take all the steps necessary to settle and distribute the estate without any Court intervention. The Personal Representative takes control of all assets, pays any debts and distributes the remaining assets. The final step is to notify the Court that the process has been completed.

Small estate administration
If an estate does not include real estate and has assets valued at less than $100,000, you may be able to settle the estate without a probate proceeding.  This provides an economical and relatively quick way to settle an estate through the use of a "successor affidavit."
  

Dealing with creditors
Dealing with creditor claims is a very important aspect of settling an estate. Typically, death does not eliminate the debts of the decedent. However, claims against the estate can be confined to a four-month period, provided proper notice is given. Claims made outside this four-month period are barred, if the correct steps are taken.

Contact me if I can help you with the important task of settling an estate.