ESTATE PLANNING

Many people mistakenly believe that estate planning—comprising the drafting of a will or the creation of a trust—is reserved for the wealthy. In truth, anyone who owns property, whether it’s real estate or personal belongings, should consider establishing a will. Without one, the Commonwealth of Pennsylvania or the State of New Jersey will take over the decision-making regarding your estate, potentially leading to outcomes that don’t reflect your intentions.

Effective estate planning is essential to minimizing confusion and conflict among your heirs when it comes time to settle your estate. Without a will, disputes may arise over the distribution of your assets, resulting in unnecessary turmoil for your loved ones.

To ensure that your wishes are honored after your passing, it is crucial to consult with an estate planning attorney who can assist you in drafting a will or creating a trust that clearly communicates your desires.

PROBATE ADMINISTRATION

The probate process begins at the Register of Wills Office. The individual designated in the decedent's will—referred to as the executor (male) or executrix (female)—must file a petition for Letters Testamentary to probate the estate. In cases where the decedent has passed without a will, a qualified individual, known as the administrator (male) or administratrix (female), must file a petition for Letters of Administration, granting them the authority to manage the decedent's affairs as if they were acting on their own behalf.

In Pennsylvania, the responsibilities of the Executor/Executrix or Administrator/Administratrix, also known as the Personal Representative, include:

1. Collecting the decedent's assets.
2. Settling any final debts and obligations.
3. Distributing the remaining assets to the appropriate heirs.

Navigating the complexities of estate administration can be challenging, especially for individuals unfamiliar with the process. Therefore, it is advisable to engage an attorney who specializes in estate administration in Pennsylvania or New Jersey.

For a personalized consultation, click "Chat Now" for a free consultation with Attorney Demetrius J. Parrish, Jr. Alternatively, feel free us at info@djpesq.com to email or call us at your convenience.