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NAVIGATING DECEDENTS ESTATES: Overlooked Strategies that May Benefit Your Client Presented by Ruben M. Garcia CBA Probate Practice Seminar Part 1 November 13, 2014, The Chicago Bar Association, Chicago

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How to fill out navigating decedents estates

01

Gather necessary documents such as the deceased's will, death certificate, and any relevant financial or legal records.

02

Identify and contact the appropriate probate court in the jurisdiction where the deceased resided.

03

File a petition for probate with the court, providing all necessary information and supporting documents.

04

Notify all beneficiaries and creditors of the deceased's estate about the probate process.

05

Inventory and appraise the deceased's assets, including real estate, bank accounts, investments, and personal belongings.

06

Pay off any outstanding debts and taxes owed by the deceased using the assets from the estate.

07

Distribute the remaining assets of the estate to the beneficiaries as outlined in the deceased's will or, if no will exists, according to the laws of intestacy.

08

Prepare and submit a final accounting to the probate court, detailing all financial transactions and distributions made during the administration of the estate.

09

Obtain court approval for the final distribution of assets and close the estate.

10

Keep detailed records of all steps taken and document any expenses incurred during the probate process.

Who needs navigating decedents estates?

01

Family members or beneficiaries of a deceased individual who had assets and property that need to be distributed.

02

Executors or administrators appointed by the deceased's will or by the court to handle the estate administration.

03

Legal professionals such as attorneys specializing in estate planning and probate law.

04

Financial advisors or accountants who assist in managing and distributing the deceased's assets.

05

Creditors who need to file claims against the estate to recover outstanding debts.

06

Government agencies involved in determining and collecting estate taxes and inheritance taxes.

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What is navigating decedents estates?

Navigating decedents estates is the process of handling the assets, debts, and legal matters of a person who has passed away.

Who is required to file navigating decedents estates?

The executor or administrator of the deceased person's estate is required to file navigating decedents estates.

How to fill out navigating decedents estates?

To fill out navigating decedents estates, the executor or administrator must gather and report information about the deceased person's assets, debts, and other financial matters.

What is the purpose of navigating decedents estates?

The purpose of navigating decedents estates is to ensure that the deceased person's assets are properly distributed to their beneficiaries and that any outstanding debts are paid.

What information must be reported on navigating decedents estates?

Information such as the deceased person's assets, debts, and financial transactions must be reported on navigating decedents estates.

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