East Bradford residents lead full, productive lives, often resulting in significant assets, such as real estate property, bank and investment accounts, vehicles, family heirlooms, and personal belongings.
After a loved one passes away, the person they named as their personal representative in their will becomes the administrator of their estate, responsible for the probate process.
Taking on the legal process of probate often feels intimidating, especially if you have no legal background or experience in estate law. Fortunately, you don’t have to navigate this daunting prospect without legal guidance.
Call ThePeoplesLawFirm.com to speak to a Pennsylvania probate attorney who is ready to help.
Why You Should Select ThePeoplesLawFirm.com and Michaelangelo L. Dippolito
For over 26 years, founding attorney and author Michaelangelo L. Dippolito has dedicated his career to ensuring that a deceased person’s wishes are carried out after their death in the most efficient, streamlined way possible.
With representation by ThePeoplesLawFirm.com, you’ll have the following advantages:
- An attorney with decades of experience in Pennsylvania probate law, guiding you through the process
- A legal staff behind your case, ensuring diligent attention to all filing details and other legal requirements for estate administration in East Bradford
- A neutral party with an in-depth understanding of estate law to minimize the risk of conflicts or oversights that could prolong the probate period
ThePeoplesLawFirm.com offers a free phone consultation so you can learn how an East Bradford probate lawyer can assist you in your Pennsylvania estate administration case.
What Should I Do During the Days After a Loved One’s Death?
If the death was unexpected, it may take all of your focus to get through the grief and anguish of the loss; however, as the estate administrator named in a loved one’s will, there are steps to take that help facilitate the process of estate administration before beginning probate. These include the following:
- Ask for five to ten certified copies of the death certificate
- Compile essential documents, such as all copies of the will or estate plan, life insurance policies, the most recent bank and investment statements, and the most recent three years of tax returns if the decedent was employed
- Contact the decedent’s employer for a list of payable death benefits, or the Veterans’ Association (VA) for eligible death benefits
Finally, contact an estate administration and probate law firm in East Bradford for experienced legal counsel and guidance before beginning the probate process.
What to Expect From the Estate Administration and Probate Process In East Bradford
Probate is a legal process meant to facilitate an orderly distribution of personal assets and property after a death. When a person drafts a will, they name a personal representative who serves as the probate administrator after their death. If a person does not have a will or estate plan in place, the court appoints a family member as the estate administrator and requires the family to follow the state’s intestacy laws for inheritance.
After the death, probate in East Bradford proceeds in the following way:
- The probate administrator for the estate files the will with the county’s Will Register, along with the death certificate
- They also file a petition to open a probate case with the county probate court
- The administrator informs all known creditors, government agencies (such as the IRS), beneficiaries, and the public of the probate case
- They conduct a thorough inventory of the estate’s holdings and assess the value
- The probate administrator arranges for debt payment to creditors and pays the tax obligations, sometimes requiring the sale of property. In many cases, a well-executed will includes terms for how to pay debts and taxes
- Period updates are made to the status of probate with the probate court
After satisfying all debts and tax obligations, the estate administrator distributes the remaining property as directed by the decedent’s will or the state’s intestacy laws if there is no will.
Understanding Fiduciary Responsibility for Estate Administration & Probate In East Bradford, PA
The probate administrator serves as a fiduciary for the estate and its beneficiaries. This is a legal obligation to act in the best interests of the estate throughout the probate process.
Unfortunately, this also leaves the administrator personally responsible and often legally liable for any wrongs caused to creditors and beneficiaries, even if they were caused by an error, oversight, or misunderstanding on the part of the probate administrator.
For example, underpaying the taxes owed could leave the administrator responsible for making up the deficit from their own pocket. For this reason, it’s essential to have experienced legal guidance throughout the probate process in East Bradford.
Do All Assets Have to Go Through Probate In Pennsylvania?
Most estate administration processes require probate in Pennsylvania, but for small estates valued at $50,000 or less, the court allows an expedited process known as Small Estate Probate.
This requires producing an affidavit to the probate court with an assessment of the estate. Upon approval, the assets in the estate may be distributed to the beneficiaries without the need for a lengthy probate process.
If the estate includes real estate property, it cannot be settled through the small estate probate process but requires traditional probate.
Some assets do not require probate after a death. For instance, funds held in a living trust are immediately distributed to the trust’s beneficiary. Any funds held in bank accounts with a Transfer on Death (TOD) or Pay on Death (POD) designation bypass the probate process, allowing the designated beneficiary immediate access.
Wages, salary, and employee benefits of up to $10,000 do not have to pass through probate, but are paid directly to the closest surviving family member, typically a spouse, parent, or adult child.
Life insurance does not require probate. Instead, the benefits are paid directly to the beneficiaries after the death.
How Does Inheritance Tax Impact Estate Administration and Probate in East Bradford?
The Commonwealth of Pennsylvania imposes an inheritance tax on the value of property in the probate estate. This tax applies to the net value of the holdings after paying creditors and probate fees.
Determining the amount of inheritance tax depends on the beneficiary of the funds. For example, assets designated for a spouse are taxed at 0%, but assets designated to a child are taxed at 4.5%.
Contact the Estate Administration & Probate Attorney at ThePeoplesLawFirm.com
Facing the aftermath of a loved one’s death is an emotionally fraught journey. Fortunately, the legal and financial consequences of the death do not have to add to the strain.
Instead of navigating estate administration and probate alone, with a significant risk of errors and delays, contact Michaelangelo L. Dippolito at ThePeoplesLawFirm.com for experienced legal representation and guidance throughout the process. By letting your attorney navigate the distribution of your loved one’s estate, you can focus on guiding your family through the grieving process.
