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If you recently lost a loved one, it’s perfectly natural to feel overwhelmed at the thought of settling the estate. While you’re grieving, navigating probate may seem like too much to bear. If you familiarize yourself with the proceedings before getting started, though, it will alleviate a considerable amount of stress. Here are the answers to some of the most frequently asked questions so you can prepare.

FAQ About Settling an Estate

Is probate unavoidable?

While most estates must pass through probate, there are some exceptions. If the estate is comprised solely of assets that you can transfer directly to their applicable beneficiaries, for example, then it is unnecessary. Additionally, estates valued at less than $35,000—or less than $100,000 if the surviving spouse inherits everything—qualify for a streamlined process, while those valued at less than $5,000—or the total funeral expenses—will bypass probate altogether.  

Who handles the proceedings?

If the deceased left a will, the person whom he or she named as the executor is responsible for settling the estate. If the named executor is unable or unwilling to serve in the role—or there is no will—the court will appoint an administrator. If there happens to be a surviving spouse, he or she is typically the first choice for this role. 

How much does probate cost?

There are several expenses probateassociated with settling an estate, from court costs to attorney fees. If the estate contains any significant assets, there will also be appraisal fees. Since every estate is different, there’s no set formula for determining how much the entire process might cost. Thankfully, an attorney will explain the most likely expenses your family will incur, so you know what to expect. A lawyer will also take steps to mitigate disputes so as not to drag out the proceedings and cost the estate even more. 

How long does probate take?

Just as there is no way to predict how much it will cost, there’s no way to determine how long it will take to settle an estate. If an unanticipated dispute arises, for example, it could delay the proceedings by months. Generally speaking, it’s possible to complete the process within six to nine months of appointing an executor or administrator. For larger or more complicated estates, however, it will take considerably longer. 

 

If your family needs help settling a loved one’s estate, turn to Lance S. Cox, Attorney at Law. Practicing out of Cincinnati, OH, this seasoned lawyer has more than three decades of experience in estate planning and probate. To make an appointment at his office, call (513) 528-6000 or reach out on his website.

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