When death occurs, the deceased person’s estate must be settled in an orderly process. Typically, proper legal notice must be given to heirs and governmental agencies, assets must be inventoried and accounted for, debts must be settled and assets transferred to or for the benefit of the decedent’s heirs. The estate settlement process may be supervised by a court (probate administration) or privately if the decedent had done proper planning. Typically, private planning (via a trust or other means) leads to a quicker, less expensive and more private estate settlement. If you fail to pro-actively plan, by default your estate may be subject to a court-supervised probate administration.
At Hofer & Harris we can properly advise executors and trustees as to their duties and liabilities in settling estates. Hofer & Harris has in-house personnel resources to assist clients with an economical estate settlement, including but not limited to assistance with dealing with financial institutions, escrow companies, re-titling assets and fiduciary accountings.