The death or a loved one or close friend is always difficult. But, when you are also chosen as the executor of their estate, it means the additional task of dealing with the overwhelming process of settling through probate. This job is a lot for anyone and can take several months to years to settle. The best option is to enlist an experienced probate lawyer to guide and advise this process. In the West Des Moines, IA area, the trusted lawyers at Pearson Bollman Law will gladly guide you through this challenge.
What Is the Process for Settling an Estate Through Probate in Iowa?
Do I Need a Probate Lawyer to Settle an Estate in West Des Moines, IA?
Probate is a court-supervised procedure to properly sell or transfer the debts and/or assets after death to beneficiaries. Any errors will prolong the process and could even incur additional fees. For these reasons, it is strongly recommended a qualified attorney be employed to handle the probate process.
Step 1: Publish a Notice of the Petition for Probate
A notice of the probate must be published, usually in a local newspaper. This notice starts the clock on a four-month period in which any creditors can file a claim against the estate. An attorney can handle this task correctly to eliminate potential errors.
Step 2: Pay Debts
When claims are filed against the estate, they will be verified. Verification is to protect the estate and beneficiaries from any potential fraud from false claims. Once verified as a legitimate debt that is the responsibility of the estate, the debt is to be paid to the creditor.
Other Fees
Be aware other court and legal service fees will be applied to and paid out by the estate. On top of fees for legal services, there are other flat fees such as $20 for bond process, as well as $10 per court order. Final income taxes also need to be filed and paid postmortem, as well.
Step 3: Petition to Close Probate
After the designated time for creditor claims has ended and all debts have been settled, it is now time to file a petition with the court to close probate. Legal counsel will also itemize and coordinate the payment of court costs. When the close of probate is granted, the estate can move on to the distribution of remaining assets.
Step 4: Property Distributed
The court must review the will or trust at this point, to establish its validity and legality. If there is no will, the attorney will take a full inventory of the assets, and the court will evaluate and make a ruling as to who is to receive ownership of the deceased person’s assets.
Allow us to make the process of navigating an estate settlement through probate much less stressful. Time is of the essence, contact Pearson Bollman Law today to connect with your probate attorney. We proudly serve the areas of West Des Moines, Cedar Rapids, Dubuque, Bettendorf, and Milford, IA as well as Overland Park, KS.