Estate Administration

Peterson Goodman & Hawkins PLC assists clients in Virginia and Maryland with resolution of decedents’ estates. Estate administration, is the process of administering a decedent’s estate. At Peterson Goodman & Hawkins PLC, we strive to resolve estate issues as efficiently and smoothly as possible.

When a person passes away, some assets, such as joint property and life insurance, transfer automatically to the co-owner or designated beneficiary, as applicable. Other assets, which can include real estate, individual banking accounts, business interests, and personal property, may be subject to probate.

There are many advantages to avoiding probate, such as providing for the transfer of assets quickly, privately, and without incurring extra professional fees, court fees, and probate taxes. At Peterson Goodman & Hawkins PLC, we help clients create effective estate plans aimed at avoiding probate whenever possible.

The process for administering an estate

The estate administration process depends in part on whether the decedent executed a will specifying who will be the person in charge of the estate (i.e., the executor). When no will exists, state law appoints an administrator to distribute assets to the person’s heirs-at- law according to laws governing intestate succession.

Intestate estates and probate can raise many different issues for heirs, especially regarding taxes. Peterson Goodman & Hawkins PLC has considerable experience helping families through different probate matters:

• Determining the administrator of an estate
• Valuing assets
• Re-titling assets, including real estate
• Negotiating and paying debts
• Reporting information about assets and debts to the probate court
• Distributing the remaining assets as directed under the terms of the will or the law of intestacy

Probate differs from estate to estate. While small estates (if solvent and liquid) can generally be administered quickly, complex and large estates may require more time. The attorneys at Peterson Goodman & Hawkins PLC are prepared to stand with you through the entire process and work towards a quick, satisfactory resolution.