4 Ways to Fast-Track Probate Proceedings

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Probate proceedings for some estates can drag on for many months or even years. But, by following some of the below guidelines, participants of a probate proceeding can ensure that the probate process is concluded as soon as possible.

 

 

  1. Prevent Mistakes by A Personal Representative.

 

A probate with an executor or personal representative who is not good with money, disorganized, busy with other obligations such as their jobs or family, or is irresponsible will likely result in circumstances that can cause the probate process to be extended. Missed deadlines and improper notices will delay probate proceedings.

 

A personal representative that can handle the duties that come along with serving as a personal representative will greatly speed up the probate process.  Mistakes or inaction by a personal representative is one of the most common reasons that a probate is delayed.

 

  1. File an estate tax return in a proper and timely manner.

If the Internal Revenue Service Form 706 must be completed, it will generally take the IRS at least 6 months to complete their review and this does not account for any time that may be required to correct mistakes on the form.  Probate can close sooner if the personal representative collects the information that will be required to complete Form 706 early in the probate process.  The personal representative will also need to ensure that Form 706 is completed correctly and submit the form to the IRS

Even if an estate is not required to file Form, the estate may be required to file a state estate tax or inheritance tax return.

  1. Consider Unusual Assets.

Certain property that is difficult to value may delay probate.  Such assets may include:

  • Collectibles
  • Complex property or business rights.
  • Patents or other intellectual property
  • Property that is highly illiquid

By reviewing these assets and how they will be distributed or disposed of, a personal representative can help make sure that they do not contribute to the prolonging of a probate.

  1. Obtain Court Permission When Necessary.

If probate beneficiaries do not get along or speak to teach other, a personal representative will need to obtain the court’s permission to move through the probate process.  A personal representative can ensure probate is concluded timely by submitting filings to the court as quickly as possible and appearing in court if needed.