The 5 Steps Of This Process

Atlanta Probate Attorney, Lisa Blackstone, gives an overview of the 5 steps of the administration process.  In other words, if you are the executor (or administrator) you must do these 5 things in this order:

1.  OBTAIN THE AUTHORITY TO ADMINISTER THE ESTATE.   This means using the proper Georgia Forms to petition the Probate Court (of the county in which the decedent lived) to probate the Will.  If there is no Will, then petitioning the court to administer the estate.

2.  LOCATE AND PROTECT THE ESTATE’S ASSETS.  This could be a big job if the decedent owned a lot of personal and or real property.  You must go through the decedent’s financial records, contact financial institutions, professional advisors, collect debts owed to the decedent, lock doors to secure assets, get insurance if needed for protection over assets, care for animals, livestock, pets and crops, continuing the decedent’s business operations.

3.  DETERMINE AND PAY IN ORDER OF PRIORITY THE DECEDENT’S DEBTS.   This will include income taxes owed by the decedent, income taxes owed by the estate, gift taxes and estate taxes.

4.  DISTRIBUTE ASSETS TO PROPER BENEFICIARIES OR HEIRS.  After paying debts, you will distribute the remaining assets to the beneficiaries that are designated in the Will.  If there was no Will, then to the heirs at law.

5.  OBTAIN DISCHARGE FROM FURTHER DUTIES AND LIABILITIES.  You will file a request with the Probate Court and possibly obtain releases from interested parties.

There are certain guidelines that you should become familiar with as well.  For example, when you file a petition to probate a will, you must advertise that fact in the county’s legal publication for 4 weeks, giving proper legal notice to creditors.  Another example is that you must file an inventory of assets with the Probate Court within 6 months of obtaining the letters of authority to act as executor/administrator.

Be sure you become familiar with all the statutes that apply to your duties as executor/administrator.  You certainly do not want to violate your fiduciary duty to the heirs/beneficiaries  by failing to follow the law.   Seek the counsel of an Atlanta Probate Attorney if you have any questions.