MsPerky

Not looking for advice...I've got the ducks in a row, fortunately. It helps to be very organized. But executing an estate turned out to be more of a time-consuming process than I realized. I didn't use an attorney, just my accountant (who happens to also be an attorney). He guided me through the steps. It was far more complicated than simply dividing up the assets according to her wishes. I'm getting closer, but it probably won't be entirely wrapped up until January. I'll certainly be prepared when I do it again for my parents!!

Anyone else have a story to share?

batguano

I have handled an estate. My Mother passed away in 2000. I had my Father redo the wills to avoid complications.
When Dad died, I took the will to the clerk of courts office and got very good input on how to handle the estate. It was a fairly simple(although time consuming) procedure.

I'm glad I decided to handle it myself. An attorney would have cost quite a bit .
Probate is not all that complicated . You just have to decide that you can do it and go with it.

MsPerky

^ I didn't have to deal with probate...I had her will converted to a trust in 2002, along with my parents' wills. Everyone should have a trust, IMO. I still have to finish my own, however.

DrCloud

I think the complexity varies state-by-state. +1 is in the final stages of executing her Mother's estate, which, with a clear will, was straightforward. But it's still a long, tedious process with the occasional (mostly bad) surprise.

Perhaps the best way to get back at someone you're mad at is not to cut them out of your will but to have them execute a badly formulated one! HPH

silvershadow

My wife - being the glutton for punishment that she is (she married me didn't she) has been executor for two estates, her father's and her uncle's. They died several years apart, so she was mired in estate executing for 5 years or so. I'll see if I can get her to tell some good stories.

Emil St-Hilaire

I had to,a couple of times,for uncles of mine...
Bad experiences,rather not tell about;every body wants a piece of the PIE,and that can get "UGLY,"and set disorder,inside the family members; at least,that's what happened in my case...

As I was the oldest nephew,

I was the one selected,but,it did stir s**t,in the family;and all this was done through a Notary,ie:attorney...
If you can,Stay away...,do it;it will do you no good,in the long end...

Lainey

No matter what they say remember "It's ALWAYS about the money." It doesn't matter how much or how little, unless things are totally spelled out (and they should be) there always seems to be issues.

Emil St-Hilaire

and,world war III,can even start,for a piece of pottery...

...worthless...

MsPerky

Sad...that's why it's a good idea to be pretty specific when leaving things to peeps. To reduce fighting. Of course, it doesn't always work. Lots of families use this experience to drag up all sorts of past hurts, conflicts, etc. "You got this and I deserved it" mess. Fortunately, that is not happening with Auntie's estate. But I suppose it could with my parents'. To be determined...

One thing my lawyer told me some time ago, which I think is good advice, is to bequeath the money to the main recipients in percentages, not specific amounts. There is a mixture in Auntie's estate. A couple of peeps got designated amounts, but the main three will get percentages. I've already paid out the set amounts. Just now winding down everything, so I get a final total to split up.

Yesterday, I was finally able to close out her checking account. I made a mistake when we set up the trust by not putting the checking account in it. It worked out, but I had to go through some additional machinations to get the bank to close it.

paS2K

I guess I'm a veteran executor of sorts, but have always used an attorney. The key is to do grunt work yourself and hire them hourly to do the harder stuff that they do every day....using paralegals for a lot of it. My resume in this regard includes:

Aunt, unmarried- 1983-4
Father, widowed- 1986-7
Great Aunt of Kathy, widowed- 2004-5
Mother-in-Law, widowed- 2006

In spite of my thought that there are too many lawyers in the US, I have mostly been pleased with their work and cost to assist. In fact, the Great Aunt died with a negative net worth (credit card companies, you GO ) and the pro bono att'y who wrote her will even handled the estate for the few hundred cash dollars remaining.