The dreaded probate process. Where do you start?

First, I am very sorry for your loss. I know it is a difficult time right now. Add to this the daunting task of going through probate and it just seems too much. Instead of looking at the whole picture, let's talk about just the first step in the process.

The first step is to determine:

1) Was there a valid Will (and Codicil, if applicable)?

2) What is the total value of assets owned by your loved one in their own name. This does not include jointly owned assets and assets with a named beneficiary (i.e. annuity naming you as beneficiary).

For these purposes, we will assume your deceased loved one was domiciled in CT.

If the answers to these questions are: 1) Yes; and 2) over $40,000.00, then the Will, and Codicil (if applicable), must be submitted to the probate court in the district in which your loved one resided, presumably by the person named Executor under the Will (for these purposes let’s assume it is you). Along with the original Will, and Codicil (if applicable), you will provide the court with a certified death certificate and a Form PC-200 (Petition/Administration or Probate of Will) http://www.ctprobate.gov/Forms/PC-200.pdf . You will also include a Form PC-200IC (which includes confidential information). If you, the named Executor, live outside the State of CT you will also file a PC-482 (Appointment of Judge of Probate as Agent for Service). These forms must be fully and accurately completed so as to avoid delays. You may have to provide a family tree in some cases. HINT: To move the process along quicker, and to avoid a hearing, you can ask all interested parties to sign the Waiver of Hearing on page 4 of the form. That is not always possible, however.

Then, depending on the jurisdiction, it can take a month or more before a hearing is set and you get appointed Executor. At that point, the Court will issue a Decree appointing you Executor and provide you with Fiduciary's Probate Certificates that you will use when dealing with banks and other financial institutions to show proof you are Executor which will in turn allow you to close accounts, sell assets, open an estate account, etc.

If there was no Will, but there are assets over $40,000 in the decedent's own name, you will file the same forms with the proper probate court but you will not have a Will to file. In this case, you will be appointed "Administrator"

of the estate (see my prior blog). Everything else is the same.

This is the first step in the probate process. More on required filings during the probate process in my next blog.

*Disclaimer: This post does not constitute legal advise and does not establish a business to client relationship. If you need legal advice you should consult with an attorney.