What can a voluntary administrator do?
It is the voluntary administrator’s job to obtain the decedent’s property, pay any debts or expenses, and distribute what is left to the beneficiaries of the Last Will and Testament or the decedent’s heirs. NOTE: Voluntary administration can be done regardless of whether the decedent left a Last Will and Testament.
What is a voluntary administration form?
A “voluntary administration,” also referred to as a “small estate proceeding,” is a court proceeding on death for personal property worth $30,000 or less, and is used whether or not the decedent had a will. Personal property includes bank accounts, vehicles, investments and other assets that are not real estate.
What is a Letter of Administration in Massachusetts?
If the person dies without a valid will, the court appoints an administrator to distribute the decedent’s assets according to the state’s laws of intestacy. The court will issue letters of administration, also called letters testamentary, to the administrator, giving the authority to handle the affairs of the deceased.
What assets are subject to probate in Massachusetts?
Probate assets can include vehicles, real estate, bank and brokerage accounts, and personal belongings (for example, jewelry, home furnishings, artwork, and collections). Life insurance proceeds that are payable to the estate (not a named beneficiary) are also probate assets.
What is considered a small estate in Massachusetts?
Massachusetts has a simplified probate process for small estates. The deceased person left no real estate and all the property in the estate is worth no more than $25,000 (excluding the value of one vehicle). Any interested person can file the will (if any) and offer to serve as the executor.
How long does an executor have to distribute will in Massachusetts?
Per Massachusetts law, “an estate must be probated within three years.” Many factors can delay the probate process. As a Massachusetts probate lawyer, I can help work to avoid the delays and ensure that any complications that occur are resolved quickly.
How do I get a letter of voluntary administration?
If you need to obtain a Letter of Administration you will need to file an application with your county court.
Do all wills have to be probated in Massachusetts?
Does a Will Have to Be Probated in Massachusetts? Yes, a will must be filed with the court in the county where the decedent lived. The court will establish the validity of the will and ensure that all provisions in the will are upheld.
Can creditors go after joint bank accounts after death?
Joint tenancy (with rights of survivorship) is extremely common between spouses and in nearly all cases creditors very little to no rights against property held in joint tenancy between the deceased person and the joint tenant.