Death Inheritance Process

The probate after death process occurs once an individual dies and deals with matters related to setline the estate of the deceased.  Probate after death can take as little as a couple of months or as much as multiple years to complete.  Of the issues probated after death, inheritance and deceased debts are among the most common.

2010 Estate Taxes

A major issue for individuals who are inheriting money from someone that has died relates to the amount of taxes imposed on the death inheritance.  2010 is a significant year for estate taxes because the tax rate on the estate itself is 0%.  Once the tax on the estate is avoided (which applied to 2010 only), the only inheritance tax a beneficiary will pay is their individual tax rate on the assets inherited. 

Paying Debts

One of the main functions of the executor or trustee of an estate is to settled the deceased debts before distributing assets to beneficiaries.  If the deceased has more assets than the estate is worth, it is possible that the beneficiaries will not be able to claim anything bequeathed in the will.

Death Inheritance: Executor

While the executor can be any number of different people, an executor must be a US citizen.  The executor need not reside in the same state as the person who has died, but in many cases, having an executor in the same state makes the process easier.  If the executor can readily communicate with family members of the deceased, the probate after death process will be much easier.

Getting Probate Legal Help

For questions related to estate planning and inheritance, it is important to contact an probate attorney.  A skilled lawyer can explain your options and help you make the right estate plan for your family.