I am a beneficiary to a will that has taken almost 4 years without a settlement. The attorney and executor have not responded to questions concerning the excessive time to probate the will. In a rare email from the executor, he claimed that the attorney does not respond to his inquiries. This is a disgrace and has dragged on long enough. I think additional attorney and executor fees will consume most of the final estate distribution. Is an accounting something I can initiate by myself or is a attorney required?
Avoid Living Trusts
Revocable trusts have become increasingly popular as substitutes for Wills in Estate Planning, most notably in light of the fact that people are informed that they need to “avoid Probate.” As Pennsylvania is a very “probate friendly” state (as opposed to other states, such as California), “Living Trusts” do:
- Not save tax (and often, unnecessarily, increases it);
- Not save fees (and often, unnecessarily, increases it);
- Not save time (and often, unnecessarily, increases it);
- Not save costs (and often, unnecessarily, increases it); and
- Not save aggravation (and often, unnecessarily, increases it).
Be extremely cautious of “Living Trusts” in Pennsylvania
Misinformation, Misunderstandings, and Mistakes
The best gift you can give your loved ones is to have your Estate Planning complete.
Unfortunately, to a great extent, misinformation about critical terms such as inheritance tax, estate tax, probate, avoiding probate, simple will, living will, and living trust, tends to lead to misunderstandings of estate planning.
These misunderstandings, in turn, tend to lead to mistakes in estate planning.
These mistakes, again, in turn, tend to lead to unintended results after one’s death.
In an effort to eliminate such misinformation, misunderstandings, and mistakes, this article will hopefully serve as a review – in very
simple terms – of the basic, core issues of estate planning and its basic documents.
Our Aunt passed January 19, 2012 she had a will, no valuables, a mobile home, car and contents of mobile home, savings and checking account. We filed everything with her attorney. How long should this take to settle? Can we call the PA state department and find out the holdup, the Attorney is of no help.