Probate is a difficult process, and it is even more so for the person chosen as an estate executor. Potential executors are faced with many questions, and it can be difficult to find someone to help them navigate the process. Even a trusted person can find themselves overwhelmed with responsibility at a time when everyone is dealing with grief. Below are five common mistakes made by administrators and executors during the probate phase.
Unnecessary Delays
While no one will expect an executor to resolve the estate in a few days, it is advantageous to everyone if the process is started promptly. The longer the delay before probate is started, the more taxes can accrue and the more impatient creditors and beneficiaries can get.
Not Keeping Accurate Records
As an estate administrator or executor, it is important to be accurate in all business dealings. Many estate executors or administrators do not keep good records of dealings such as estate appraisals, expense tracking and payments to tax collectors and creditors. In the end, all of these undocumented payments can add up, and they can affect the estate’s final resolution.
Maintaining the Property
Many estate executors are faced with the responsibility of maintaining a piece of real estate, and the responsibility can become overwhelming. Despite an administrator’s best intentions, many buildings and properties fall into disrepair during probate. Proper maintenance and security of a property is crucial during the probate process, whether the asset is to be liquidated or passed to a beneficiary.
Not Talking to Beneficiaries
It is quite normal for a grieving heir to be anxious to get what was left to them by a deceased loved one. That is why an executor should openly communicate with beneficiaries and a probate attorney in Sinking Spring, PA, updating them as necessary during the probate process. As long as the beneficiary knows that things are progressing, there is less chance of conflict.
Not Retaining Legal Counsel
Probate is a draining and complex process even under the best of circumstances, but it can be simplified with the help of a probate attorney in Sinking Spring, PA. Not only do estate and probate lawyers with website help clients through the process, they can help them avoid the mistakes listed above.
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