I had a telephone call yesterday and with a woman and her brother passed away in the past couple of weeks and her brother didn’t have any children and her brother had been sick for awhile. She said that the family, her siblings are stressed and they are concerned so I walked her through the steps that the family is going to have to go through to get everything settled. The brother that passed away owned a business, investments, vehicles, ect and it was all frozen. So I walked the family through the steps and the steps were as follows to get everything settled.
Number one was he had a will naming two of his sisters as co-executors, so step one was getting those two sisters confirmed as whats called the independent executors. Number two, is once they are confirmed as executors then they will be able to access his funds so they can pay bills and take care of things while this is taking place. Step three was to sell the things that need to be sold. Their bother had a home that needed to be sold. Step four was complied a detailed list of all the assets and along the way having good and open communication with all of theparties involved in this are all on the same page. Finally once things are sold and all of the money is collected and all of the necessary estate accounts then we will go back to court again and all the remaining estate assets to be dispersed equally among the heirs.
Our conversation was a little more indebt than that and I told her the next step is to get all 4 heirs on a conference call since not all of them are in the same area. Where they can hear from the horse’s mouth the steps so we can get all of their questions answered because it’s so much easier to settle an estate when all of the heirs are on the same page, everyone knows what’s going to happen, there are no surprises, no false expectations and it really provides for a smooth transition for the family. So my point is when someone passes away its just makes things so much easier in the long run to get all of the parties that are involved can work together in open communication and get on the same page, agree on that plan and get settled.
Then, it’s our job to create that plan and implement that plan to keep those relationships strong. If you have questions about a succession, perhaps you an executor and you want to make sure these legal steps are being followed and keeping those relationships strong you may want to give us a call on our toll free number 866-491-3884. I’m Paul Rabalais, have a great day!