Palm Beach parents do what they can to protect and provide for their children. For those who want to make sure they continue to do so in the event of their death, they may decide to take out a life insurance policy that benefits the children. The way that the beneficiary designation for a policy is done has a profound effect on estate administration if the children are minors when the policyholder passes away.
When it comes to closing out the estate of a deceased loved one, numerous tasks require the attention of surviving family members. In order to make sure that nothing is missed during the Palm Beach probate administration process, it would probably make sense to make a list and check it often. As tasks are completed, they can be marked off the list.
One of the primary duties of a Palm Beach executor is gathering all of the decedent's property. In most cases, he or she can look to the estate-planning documents for clues as to what property there is and where it may be located. However, if a plan fails to include the digital assets, then matters could get more complicated.
It could take months or even years to close out an estate. Many Palm Beach residents hear that when a loved one passes away. Fortunately, not all probate administration takes that long. In some cases, it could happen more quickly.
When you accepted the task of serving as executor to your loved one's estate, you may not have fully understood the breadth of the process you would undertake. Now that your loved one has passed away, you may be searching for answers to your questions regarding probate administration here in Palm Beach. Below is a brief synopsis of the progression of this process.