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Posts tagged "Estate Administration & Probate"

Elements of an inventory estate

After someone in Massachusetts dies, the administrator of the estate has a number of duties to perform. One of these, according to The General Court of the Commonwealth of Massachusetts, is to prepare an inventory of everything the decedent owned at the time of his or her death. This involves identifying and listing assets and their value, as well as details about each item and whether there is any mortgage or other lien or debt associated with it.

Mistakes by a personal representative can have big impacts

The administration of a deceased person’s estate is managed by the personal representative of the estate. There are a wide range of different responsibilities and rules placed on a personal representative in connection to this management. So, there can be a lot of different potential areas for impactful mistakes by such an individual.

Probate can be avoided when necessary

Keeping an estate out of probate is at the top of many people's estate planning wish lists. Probate does of course have its place in the estate administration process, but it can create unnecessary headaches and lengthy time commitments when not needed. For those in Massachusetts hoping to keep their estate out of probate, there are different steps that can help achieve that goal.