In essence, probate is a legal procedure that involves evaluating the assets of a deceased individual who has left behind a will. The appointed administrator oversees the administration, and certain expenses incurred during this process are covered by the estate. These expenses are a result of the responsibilities carried out by the administrator in proving the authenticity of the will in court.
Understanding the expenses covered by the estate during probate can provide clarity on the process. Let’s delve into the various expenses that the estate takes care of:
Reimbursing Expenses
When an administrator is designated for the estate, they are entitled to reimbursement for all reasonable expenses from the estate itself. The administrator does not have to bear these expenses personally. Here is a breakdown of expenses covered by the estate:
Professional Assistance
Professionals hired to represent and guide the estate throughout the probate process are paid from the estate funds. This includes accountants aiding in tax preparations, whose fees are met by the estate.
Necessary Repairs
In certain cases, it may be more beneficial to repair a property than to sell it. The estate covers repair expenses if they enhance the property’s value or protect it from further damage, like urgent repairs to prevent water damage from a leak.
Gardening Costs
Maintaining a garden on the deceased’s estate incurs expenses for equipment and a gardener, all covered by the estate during probate.
Transportation Expenses
If the administrator needs to travel for estate-related tasks, transportation costs are reimbursed from the estate funds. It is advisable to consolidate essential trips to avoid excessive expenses.
Legal Fees
Legal fees, especially those of probate lawyers, are essential during this period and are paid from the estate funds.
Funeral Expenses
While not obligatory, the estate can cover funeral expenses if desired, using funds from the estate.
Death Certificates and Taxes
The expenses for death certificates and various taxes (property, income, estate) are also covered by the estate during probate.
To claim reimbursement for these expenses, submission to the estate’s creditor with supporting documents is necessary. It’s crucial to complete this process promptly to avoid delays due to complications.
understanding the expenses covered by the estate during probate is crucial for a smooth process. Seeking assistance from probate specialists can ensure that the process is correctly completed, avoiding any legal responsibilities that may arise from miscalculations.
