Formal Administration is for all other estates that do not qualify for Disposition of Personal Property Without Administration or Summary Administration. This type of estate is more closely monitored by the court and subject to many more requirements. For example, it will require the appointment of a Personal Representative who will have many responsibilities including, but not limited to, filing a detailed inventory listing all of the assets and their values owned by the decedent at the time of their death. The Personal Representative may also be required to file a detailed accounting for every dollar that comes in and goes out of the estate. Depending upon the size of the estate, it may be necessary to file a federal estate tax return.
If you have any questions regarding a probate matter, then please do not hesitate to contact me. I look forward to helping you and your family.
Daniel M. Genet, P.A.
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