How Do I Settle An Estate?
01 FebHow do I settle an estate?
- Notifying agencies and businesses, including:
- the Post Office
- utility companies
- credit card companies
- Federal agencies that have provided public benefits such as the Social Security Administration or the Veteran’s Administration
- Take an inventory of the assets and obtain appraisals. Determine how the title to assets is held.
- Ensure that beneficiaries are aware of the death.
- Take good care of the estate’s assets. You must keep any real estate properties well maintained, valuables secure, and everything of value insured.
- Collect money owed to the estate.
- Pay bills from estate funds.
- File an income tax return.
The last thing that you will have to do as is actually distribute the assets. Given the many steps involved in the process, you may wish to seek the assistance of an experienced attorney in the process, particularly for larger estates. CoffyLaw, LLC handles all matters related to IP, including patents, trademarks, copyrights, and trade secrets. Our law firm also effectively enforces and protects intellectual property for our New Jersey clients. If you need our quality legal services contact CoffyLaw, LLC for an exploratory meeting.