Probate and Trust Administration in Harlan, Iowa
When a loved one has passed away, we assist you with managing and completing the affairs of trusts and estates. In the case of a properly funded revocable living trust, a trust administration can take place without any court or judicial involvement. If an estate does not involve a revocable living trust, we will assist your family with the estate probate administration.
Every probate estate requires the following steps:
- Filing a petition with the relevant county court, admitting the Will and appointing an Executor to manage the estate;
- Providing notice to heirs, beneficiaries, and creditors of the estate, as well as to the public, at-large;
- Drafting an inventory of the estate assets;
- Preparing returns for estate, inheritance, or income taxes;
- Paying debts to valid creditors;
- Selling estate assets; and
- Distributing assets and proceeds to estate beneficiaries.
In addition, certain non-probate assets, such as life insurance, retirement accounts, and jointly held assets will pass to designated beneficiaries. We assist families in ensuring those claims are made and properly paid.
In certain cases, for both estates and trusts, a family member or beneficiary may challenge an estate planning document or action of a fiduciary. We regularly handle contested matters of estate planning or administration.