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Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.
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MCCC Blog |
Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.
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You have likely never dealt with this before, or maybe one other time, and suddenly a new full-time job got dropped in your lap. An estate attorney has represented hundreds of other families going through the same situation you now find yourself in. An estate attorney can outline a plan from start to close of the estate, guide you through it or take the steps for you, how and when you need it. Just like no family is the same, no estate is the same. While the overall steps from open to close will happen, how each step is accomplished and what YOU need to do for THIS estate will be unique to your family. So how does Porzio’s Probate and Estate Administration Team help Executors?
Estate Administration Project Plan Some executors want to do as much or all of the estate administration by themselves. This is great, so long as you know what your responsibilities are. One service we offer is an in-depth estate administration planning meeting to go over each step of the estate, each asset and liability, and provide the Executor with a written plan of instructions of what needs to be done from probate to payments to taxes to accountings to closure. This works best with a simple estate with a surviving spouse, or children with limited estate assets. Guided Estate Administration Other Executors want guidance on an as-needed basis. Here we expand the Estate Administration Project Plan and identify who is responsible for what (ie: the Executor will probate the Will and gather all the asset date of death values, Porzio’s probate and estate administration team will prepare the accounting, tax returns, and terminate the estate and close off the Executor’s liability to the beneficiaries). This works best with Executors who have the time to devote to their new job and want our Probate and Estate Administration Team to handle the tax and legal document and be “on-call” for questions. Full-Service Estate Administration Here, our Probate and Estate Administration Team takes the lead and works directly with the Executor and other family advisors to move the estate from start to finish. The Executor is outsourcing much of the work to the professionals. Most families select this when the Executor has other responsibilities or the estate assets have particular complexities. Porzio’s Probate and Estate Administration Team brings its experience to every unique estate administration and supports each Executor from the start to finish of their job. Deirdre Wheatley-Liss [email protected] Comments are closed.
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Please Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.
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The Power of Connection! Your membership connects you to valuable resources, opportunities for business growth and rewarding relationships with fellow members. And you don't need to be based in Morris County to belong!
Our Business Hours are Monday to Friday, 9 am to 5 pm. If you plan to stop by, it's best to make an appointment to ensure that someone will be available for you. Staff is often out of the office hosting events or meeting with members.
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The Morris County Economic Development Alliance (The Alliance) is an affiliated 501c3 Nonprofit of the Morris County Chamber and includes the Morris County Tourism Bureau, the Morris County Economic Development Corporation and the Connect To Morris job board.
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