Settling a loved one’s estate or trust can be overwhelming even for the simplest of estates. Obtaining death certificates, safeguarding personal property and real estate, tracking income received, identifying and resolving billing issues, paying bills, dealing with costly attorneys, communicating to beneficiaries, ensuring taxes are paid, and more, add lots of stress to an already tense time of life.
But it doesn’t have to be that way. We can help! Our services can lighten the strain during this transition time in your family’s life.
Service Options
Below is a list of our estate settlement services (click on links to view details):
Executor / Personal Representative
An executor, or personal representative, is the person who is responsible for collecting and distributing the deceased person’s property according to the instructions in the will and state law. If no will is present, then state law governs how estate assets are distributed.
As the appointed executor, we walk the estate through probate from beginning to end. The following are a few examples of executor tasks:
- Beginning the Probate Process
- Obtain death certificates
- Work with attorney(s) and the court to set up probate
- Obtain Letters of Administration
- Set up Employer Identification Number for the estate
- Open estate checking account using Letters of Administration
- Taking Care of the Estate during Probate
- Safeguard personal property and real estate
- Itemize and value all property and liabilities at time of death (and obtain appraisals when needed)
- Track income received by the estate (insurance refunds, tax refunds, rental property income, etc.)
- Receive bills (funeral/burial expenses, medical bills, utilities, etc.)
- Identify and resolve billing issues, and then pay bills
- Monitor and reconcile bank statements, credit cards, and investment statements
- Ensure that tax returns are filed for the decedent and/or the estate
- Regularly communicate with beneficiaries
- Closing the Estate
- Report income and expenses of the estate to the court after creditor period has passed
- Distribute assets to beneficiaries
- Work with attorney(s) and the court to close the estate
Service areas for Executor / Personal Representative services, are the following North Idaho Counties: Boundary County, Bonner County, and Kootenai County.
Trustee for a Simple Living Trust
A simple living trust is designed to end soon after the settlor’s death. As trustee, we collect all the trust assets, pay the debts, expenses, and taxes of the trust, and distribute what’s left to the beneficiaries.
Trustee for a Special Needs Trust or Supplemental Needs Trust
A special needs trust or supplemental needs trust is an ongoing trust that protects your loved one’s government benefits and supplements your loved one’s needs from trust assets. As trustee, some of the tasks that we perform are:
- Initially
- Meet with the family to understand their desires for their loved ones
- Understand the elements of their special needs or supplemental needs trust, or provide them with resources to complete one
- Help create a Letter of Intent (if needed)
- Ongoing
- Understand the needs and welfare of the trust beneficiary
- Ensure that beneficiary maintains eligibility for public benefits programs
- Report to agencies administering such program(s)
- Track income received
- Identify and resolve billing issues, and then pay bills
- Monitor and reconcile bank statements, credit cards, and investment statements
- Ensure that tax returns are filed for the trust
Support Services for Executors and Trustees
If you are the executor or trustee of an estate or special needs or supplemental needs trust, you don’t have to go it alone. We are available to help on an as-needed (hourly) basis or a monthly retainer arrangement.
Let’s get started
Contact us for a free initial consultation. We look forward to hearing from you.