As appears in the Lee's Summit Journal
Death is one of those inevitable events. Not just our own, but it is assured that loved ones will die. When people die, their financial problems (and messy estates) don’t go away with them, and eventually most of us will be left to pick up the pieces left by a parent, sibling, spouse or even a child who has gone before us into the great unknown. Navigating the system is challenging in the best of times, and doing so while grieving may be more than any person can be expected to handle alone.
Let me first get the mini-lecture out of the way: Get your estate plan done. Hire competent professionals, explain to them your goals and let them help you find the right documents, investments and plans to meet those goals. Review those plans every few years, and update them if needed. Also, eat healthy, say your prayers and take your vitamins. End Lecture.
Moving on to other people’s decedent estates, they can be divided in two main camps: those with an estate plan, and those without (intestate). If you are “lucky” enough to be left in charge of a well-planned estate, the process is often simply following the instructions of the estate plan. If done right, you can even avoid probate court involvement. Real estate and other property will have to be retitled, any investment accounts will pass according to their terms, and any legitimate creditors of the departed will have to be addressed. Even in this comparatively simple scenario, you may still want professional assistance. After all, you probably have a job and a family of your own, and those needs don’t stop to allow you many hours of free time to administer an estate. Or the estate may be complex enough that you don’t feel you have the expertise to properly run the show. Often the will or trust documents will recommend an attorney or professional to help you do what is required of you as a personal representative, executor or trustee. Don’t be afraid of getting that help.
If someone died and was mean enough to leave you in charge of their estate without a plan (no will, no trust, no nothing), or even an insufficient plan, you are then left with the necessity of engaging the judicial system to pass any unplanned property. The judicial process used to move property of the deceased is typically called the probate process, and is, to put it mildly, very technical and locally driven. Jackson County’s Probate Division has dozens of forms on its website, each uniquely designed to fit the probate process as designed in this county to comply with the state statutes. Property to be transferred by the terms of a will must go through probate, as well as any “intestate” property (not subject to any will). Some property will transfer outside probate by the terms of joint ownership, or through another non-probate transfer law and thus will not require the jurisdiction of the Probate Court. Confused yet?
In short, if you are left to manage a will or an intestate estate, the first call should be to an attorney. Once again, you can call the lawyer who is likely mentioned in the will, or you can consult another attorney you trust. Not only can an experienced attorney help you more easily navigate the minefield of forms and rules that will determine how and where the property will pass, not only will they be able to reduce the stress placed on you during an already difficult and traumatic time, but they can ensure that you, as the personal representative, do not incur any risk or liability that may arise from a misstep or mistake you might make on your own.
Losing a loved one is hard enough for most of us to bear. Trying to carry the extra burden of administering their estate alone is more than should be asked of any of us. By wisely engaging professionals, you can remove that extra burden from your shoulders, and focus on the most important things that remain in your life.
