The Probate Timeline for Straightforward Cases: What to Expect

Understanding the probate process can seem daunting, particularly during a time of loss. However, when it comes to straightforward cases, the timeline can be more manageable than you might expect.

This article will explain the probate timeline for straightforward cases, providing insights on what to expect at each key stage. From initial court hearings to the final distribution of assets, we’ll guide you through the average timeframe, potential obstacles, and helpful information to navigate this process with confidence.

This guide, combined with the help of a trusted probate lawyer, will help you navigate the probate journey from start to finish.

Summary:

1. Initiating Probate
2. Gathering and Inventorying Assets
3. Paying Debts and Taxes
4. Distributing Assets
5. Closing Probate
6. Timeline for a Straightforward Probate Case
7. How Fricker Law Can Help

1. Initiating Probate

The first step in the probate timeline for a straightforward case is initiating probate. This typically involves preparing and filing a petition for probate, which can take anywhere from one to four months.

The process starts immediately after death and includes identifying the estate’s assets, paying any outstanding debts, and distributing the remaining assets as per the deceased person’s will or state law.

In some states like Wisconsin, a summary or simplified probate proceeding can be offered for small estates and completed in as little as four months. However, it’s important to note that the timeline can vary depending on factors such as the complexity of the estate and whether the will is contested.

2. Gathering and Inventorying Assets

Once probate has been initiated, the next step is to gather and inventory all assets belonging to the deceased. This includes real estate, investments, bank accounts, personal belongings, etc. This process can take some time, especially if the deceased had a large estate.

The personal representative of the estate is responsible for conducting a thorough inventory, which may involve using an asset inventory management system to track, analyze, and gather statistics on the assets. They must collect detailed information about each asset, such as the brand, model, serial number, purchase date, warranty details, and location.

Extra steps may be taken to ensure a comprehensive inventory, including conducting an asset inventory audit. The goal of this timely phase is to maintain an accurate and up-to-date record of the estate’s assets, which will be crucial for paying debts and distributing the remaining assets according to the deceased person’s will or state law.

3. Paying Debts and Taxes

Before beneficiaries can receive their share of the assets, any outstanding debts and taxes of the deceased need to be settled. This phase can last approximately six months, though the duration largely hinges on the intricacy of the estate and the nature of the debts involved.

The individual appointed as the personal representative bears the responsibility of settling any  debts from the estate’s assets, which may encompass unpaid bills, loans, and taxes. This covers both federal and state estate taxes, where relevant, along with any remaining personal income taxes that the deceased might be liable for.

It’s important to note that in some cases, an estate tax return must be filed within nine months of the person’s death. If the estate doesn’t have enough assets to cover all debts, state law typically dictates the order in which debts are paid. Only after all debts and taxes have been settled can the remaining assets be distributed to the beneficiaries.

4. Distributing Assets

The final step in the probate process is distributing assets. This can take anywhere from a few months to a year or more depending on the complexity of the estate.

The person appointed as the personal representative as specified in the will, is tasked with allocating the residual assets in accordance with the preferences of the deceased, as expressed in their will. In scenarios where a will does not exist, the distribution of assets is guided by the laws of the state.

Certain types of assets, such as those held in a trust or with a named beneficiary, may bypass the probate process and be distributed directly to the beneficiaries. It’s important to note that the personal representative must ensure all legal obligations are met before distributing assets to avoid personal liability.

5. Closing Probate

Closing probate is the final stage and usually occurs after all debts and taxes have been paid and the assets are distributed to the beneficiaries. This stage can take anywhere from nine to 24 months, depending on the complexity of the estate and the efficiency of the court system.

The personal representative is responsible for submitting an accounting statement to the court detailing how the estate’s assets were managed. This includes showing that all debts and taxes were paid and that the remaining assets were distributed according to the will.

Once the court approves this statement, the probate process can be officially closed. However, it’s important to note that the Uniform Probate Code is offered in some states and allows up to one year for complaints to be filed after probate is closed.

6. Timeline for a Straightforward Probate Case

In summary, the timeline for a straightforward probate case can vary depending on various factors such as the size of the estate, any conflict among beneficiaries, and how efficiently the personal representative handles their duties. On average, a straightforward probate case can take anywhere from 6 months to a year to complete. However, more complex cases may take longer.

7. How Fricker Law Can Help

Losing a loved one is never easy, but understanding the probate timeline for straightforward cases can help alleviate some of the stress involved in dealing with the legal process. If you need assistance with probate or estate planning in Milwaukee, Wauwatosa, Brookfield and beyond, our team at Fricker Law is here to help.

We understand the importance of honoring your loved one’s wishes and will work tirelessly to ensure that their estate is distributed according to their wishes. For an experienced Wauwatosa probate lawyer, contact Friday Law today for a free consultation.