Seeking advice on managing an estate

  1. M Selvey, MSc profile image74
    M Selvey, MScposted 8 years ago

    Seeking advice on managing an estate

    Anyone know of a site or hubpage with a list of what to do after a parent has dies in terms of managing the affairs?

  2. diabetesreporter profile image78
    diabetesreporterposted 8 years ago

    I don't know of any offhand, but the answer depends on a number of criteria:

    1. Did the departed have a will, living trust or other valid document that addresses the disbursement of their belongings?

    2. If not, is there more than one possible heir to the estate?

    3. Does the estate have more debt than equity/belongings?

    Unless the departed have set up something such as a living trust in advance, or prepared a will with the assistance of an attorney, the estate is likely going to have to go through probate in most states. In this case, a judge will ultimately decide how the estate is disbursed, and a trustee (lawyer) will be assigned to the case who temporarily manages (or mis-manages) the estate and is paid a certain percentage of the estate's value.

    If there is no will, or a will is contested, the case could be in court for many years. If there is a significant amount of money at stake, most  parties would be wise to hire their own attorney. Unfortunately, the trustee assigned to the case is often someone who has little interest in maximizing its value, so the estate may ultimately be worth much less than it was initially worth, especially if there are a number of ongoing expenses.

    Unless a specific document written prior to their death has named you as the trustee, you can't really "make yourself" the trustee, legally. If the estate is very small, and you are the only possible heir, you might be able to get away with running the estate until its assets are "gone". However, you would not likely have access to things such as the deceased bank accounts, be able to transfer property, sell registered autos, etc. If anything like this is involved, you are best off seeking an attorney who will advise you on what to do. The case will almost certainly end-up in probate, but an attorney can help you maximize the value of the estate prior to handing it over to a judge and making sure that you get a fair shake in court.

    Hope this helps to answer some of your questions.

  3. M Selvey, MSc profile image74
    M Selvey, MScposted 8 years ago

    diabetesreporter, this was very helpful, thank you! We do have a living trust so, I think it will be a lot easier than we first thought. I feel for those who have to go through this and have nothing. It is bad enough dealing with the emotional side of things but trying to manage this without any documentation would be really difficult.
    Thank you, again.

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)