For current Estate and Gift tax figures, click here.
What is Probate?
Does the Probate process take a long time?
Depending on the complexity of the estate and the thoroughness with which accounting has been carried out before death, probate can either be a relatively simple task or a daunting one. Be aware that no matter the situation, probate may be a lengthy process often taking months or possibly years to play out, and one which may take a considerable amount of an executor’s time.
- Validation of the Will
- Appoint executor
- Inventory estate
- Pay claims against the estate
- Pay estate taxes
- Distribute remaining assets
What is Probate Court?
Does the Trust Administration process take a long time?
- Inventory assets
- Determine estate tax
- Division of trust assets
- File the Federal and State tax forms
- Distributions to beneficiaries