INDUSTRY INSIGHT
ESTATE PLANNING
SPONSORED CONTENT
DO NOT TRY
TO PROBATE
ALONE...
W
e’ve all heard the old adage “Don’t try this at
home.” The same holds true for administering
an estate without the knowledge and guidance
of a trained estate planning attorney.
While in my many years of practicing in the estate
administration field, I can tell you stories of how someone’s
attempt at settling an estate on their own caused more trouble
than it was worth, even if they had the purest of intentions.
Why does someone choose to forego legal counsel when so
much is at stake? Quite simply: Cost. Attorneys aren’t cheap. But
would you believe it if I told you that an executor who chose
to go at it alone, merely attempting to see her father’s wishes
borne, made a mistake that created a $2,000 error? This executor
didn’t cause the oversight because she had ill will toward her
siblings but simply because she didn’t know what she was
doing. Normally such a minor miscalculation wouldn’t cause
an issue if corrected and explained, but due to the nature of
the relationship she had with her sibling who was one of the
beneficiaries, litigation ensued!!! A $2,000 blunder caused a
$30,000 litigation nightmare.
An executor’s job is to oversee the management of the estate
until the assets are disposed of and the estate is closed. Another
important note executors must keep in mind is that should
they, for lack of a better phrase, screw up, and don’t quickly
remedy the matter, they are personally responsible and liable.
The process of settling an estate is long and detailed, typically
lasting well over a year. With the help of an experienced attorney,
you reduce personal liability and hand over the responsibility of
procedure to the attorney.
We see the worst in people when death and money are
involved. Don’t allow your family to fracture because you are
unwilling to admit and accept that you need help.
An executor must account for distribution of assets to the
probate court. He/she must file an inventory and receipts
proving that they paid out the correct share of the estate to the
correct creditors and beneficiary(ies). An attorney can prepare
all of the legal documentation, but the executor must sign off
on the documents. If an executor is not fulfilling their legal
obligations, the heirs or an attorney representing the heirs may
petition the court to have the executor removed.
Please think twice before attempting to settle an estate
on your own. In the long run, the attorney’s fees are not only
ensuring that the estate is settled timely and correctly but also
can provide the executor and beneficiary(ies) peace of mind,
allowing them to grieve during this difficult time.
This Industry Insight was written by Attorney Michele P.
Conti, an estate planning and elder law attorney. Michele
attended Allegheny College in Meadville, Oxford University
and Duquesne University School of Law, and received her
LL.M. in Taxation from Villanova University.
CRANBERRY ❘ SPRING 2019
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