In simple terms, probate is a legal process that involves the evaluation of a deceased person’s assets. The individual in charge of administering the will is responsible for representing the estate and covering certain expenses during this period. While there is no specific expense that can be pinpointed, there are guidelines to determine what expenses can be covered. The expenses covered by the estate are a result of the duties performed by the responsible administration.
Expenses Covered by the Estate During Probate
When an administrator is appointed for the estate, they are entitled to reimbursement for all reasonable expenses from the estate. The administrator is not required to pay any reasonable expenses out of their own pocket. Some of the expenses covered by the estate include hiring professionals to assist with the probate process, necessary repairs to improve the value of the property, gardening and maintenance costs, transportation expenses related to servicing the estate, legal fees for probate lawyers, funeral costs, death certificates, and various taxes.
Hiring Professionals and Repairs
Professionals hired to represent the estate and assist with the probate process are paid using estate funds. Necessary repairs that increase the value of the property are also covered by the estate, along with expenses to protect assets from further damage.
Gardening and Transportation Costs
Gardening and maintenance costs for any estate property are covered by the estate while the probate process is ongoing. In the case of an administrator not belonging to the location of the estate they are administering, transportation expenses necessary for servicing the estate are reimbursed.
Legal Fees, Funeral Costs, and Taxes
Legal fees and funeral costs are paid using estate funds. Additionally, the estate is responsible for covering expenses related to death certificates and various taxes, including property taxes, income taxes, and estate taxes.
Submitting Claims and Supporting Documents
To be reimbursed for these expenses, a claim must be made and submitted to the estate’s creditor, accompanied by supporting documents such as receipts and invoices. It is important to complete this process within a specific time frame to avoid any delays or complications.
Conclusion
Understanding the expenses covered by the estate during probate is crucial, but it is equally important to have a clear understanding of the entire process to avoid delays or errors. Seek assistance from probate solicitors to navigate the process correctly and ensure legal responsibility is upheld.
By ChadGill.com
