Delaware Probate Law
- Delaware probate law defines the series of actions attorneys need to complete as part of the legal process of managing the estate. It begins with a request to open the estate and assign someone who can be responsible for the administration of the property of the deceased. Other actions generally include: inventorying the property and making certain ownership is transferred to people named in the deceased person's will, assuming one exists. In addition, the process involves meeting time limits for property transfer, notifying creditors, selling property and reviewing tax requirements related to property ownership transfer. Once the probate process is complete, a discharge notice is filed with the state to close the estate.
- As of 2010, legal expenses are estimated to cost about seven percent of the estate's value.
- Creditors can file a claim against the estate for up to eight months following a person's death, so there's plenty of time to settle a person's debt and no need to rush payment. Furthermore, probate law allocates priorities to debts when not enough money is left to pay bills.
- For most estates, the state doesn't require any estate taxes to be paid. Only estates valued at $1 million or more may result in taxes owed.
- When someone passes away without a will--or intestate--Delaware probate law states that his property automatically transfers to the next of kin. Only if no blood relative can be located upon a lengthy search does the state assume ownership of the property.
- Trust administration is a component of Delaware's probate law in cases where a trust has been set up to avoid the probate process. However, it's still a good idea to consult with an estate attorney to review the process involved for handling trusts, since each of the three counties also has its own variation of actions required.
- A good first step of the probate process is to settle expenses for funeral costs and related items, such as casualty and fire insurance to protect the estate. This will provide time to grieve, while the probate attorney initiates other actions of the probate process.
Probate Process
Expenses
Creditors
Tax Requirements
When a Person Dies Without a Will
Trust Administration
General Advice
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