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Estate Administration What is estate administration?| What is estate administration? |
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Administration
of an estate involves probating the
estate, collecting assets of the estate, paying any debts of the estate, preparing and paying taxes, and distributing assets. An attorney who
is competent and experienced in probate and estate administration can
help during this often difficult process in a timely and effective
manner. If you need help in the administration of an estate, call an
attorney at Gothie Van Allen LLC today at (717) 848-8455 for a free, no-risk consultation.
An estate is all of the property owned by a decedent (the person who has passed away) prior to the distribution of that property in accordance with the terms of a will, or, when there is no will, by the laws of inheritance under Pennsylvania's Probate and Estate Fiduciaries Code (the "PEF Code").
Probate is the court procedure by which a will is shown to be valid, property is shown to be owned by the decedent, determinations are made as to how property is to be distributed, creditors claims are made and paid, and fees for administration of the estate are approved (by the court) and paid. Finally, assets are distributed. Before the property can be distributed, it is generally necessary to go through probate, or, in the case of smaller estates, a less formal procedure under the general supervision of the probate court. In larger estates, or where charitable gifts are made, a formal accounting probably will be required, possibly involving the Office of the Attorney General for the Commonwealth of Pennsylvania. Executors or administrators of estates are required to preserve the assets of the estate. This can be a difficult task with a volatile stock market or where there may be complicated tax issues to consider. There may be significant investment and tax issues to consider when administering estates, and the advice of experienced counsel can be very beneficial.
Tax issues frequently arise in estate adminstration. The attorneys of Gothie Van Allen have extensive federal, state, and local tax experience. In addition, we work diligently with executors and administrators of estates to reap benefits that are possible when inheritance tax returns are filed and paid timely. Guiding an estate through the probate process and effectively administering that estate so that every opportunity for preserving value for distribution requires a keen understanding of the probate and tax laws. If you need help in administering an estate, contact an attorney experienced in probate and estate administration to ensure that the most effective administration of the estate. To discuss your estate adminstration needs, call an attorney at Gothie Van Allen LLC today at (717) 848-8455 for a free, no-risk consultation. Share this page:         |