A. Preparing an Inventory & Appraisement
Although not required to be filed with the Court, it may be helpful to you to complete an
Inventory & Appraisement form.
Timing: Within 3 months after appointment.
1. Publishing a Probate Notice to Creditors
Timing: Within 30 days after appointment.
2. Conducting a Reasonable Review to Identify Decedent’s Creditors
With “reasonable diligence”:
Timing: Soon after appointment.
3. Giving Each Possible Creditor Actual Notice
Creditor’s Claim form.
Timing: Within 3 months after first publication of your Probate Notice to Creditors.
4. Determining Whether Creditor’s Claims Are Lawfully Presented
All Creditor’s Claims are assumed to be lawfully presented.
5. Disposing of Lawfully Presented Creditor’s Claims
All lawfully presented Creditor’s Claims are assumed to be promptly and fully paid.
a. Federal ñ
Download and review:
(i) Decedent’s Income Tax Returns:
As Decedent’s Personal Representative, file Decedent’s final Income Tax Return (Form 1040) for the year of death, as well as any Returns not filed for prior years.
(ii) Probate Estate’s Income Tax Return:
Fiduciary Income Tax Return:
A probate estate is its own taxable entity, separate from the Decedent and his/her heirs or beneficiaries, that begins upon the Decedent’s date of death and ends upon final distribution of its assets to the heirs or beneficiaries. As Decedent’s Personal Representative, annually file the Estate’s income tax return (Form 1041, a Fiduciary Return) and pay any income tax due, which may b e done on either a calendar (ie, due April 15 of the following year) or a fiscal year basis.
b. Washington ñ
Washington has no personal income tax, so this issue is moot.
Decedent’s taxable estate is assumed to be less than that requiring the filing a federal or Washington estate tax return, so these issues are moot.
You now have completed the steps required to administer a typical simple probate estate.
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