To speak with a Boise Probate Attorney or an Idaho Estate Planning Lawyer, please call (208) 472-2383, for probate and estate planning in Idaho.
As a Boise Probate Attorney one of the most frequent questions I get is how long does it take to complete probate.
Once you have filed a probate action, you must file a notice in your local paper and in the paper where any real property is located or business has been conducted, regardless of whether it was a large business or a small business which belonged to the deceased. The notice informs creditors that any debts owing by the individual will be paid out of the estate. This is important for a small business, in particular, because if the small business has not been incorporated, then the debts are the debts of the individual as well as of the small business. It is important for a large business as well, particularly if the deceased business owner signed personally for any of the debt for the business.
In addition to filing notice, the appropriate paperwork must be completed so that the personal representative can pay the debts of the estate, transfer property and distribute property. The personal representative must do an inventory of the estate to establish what property exists and is available to pay debts and ultimately to be distributed. The personal representative must also keep an account of their activity to provide an accounting if one is requested by the heirs.
Once the debts are paid and the property is distributed the estate can be closed. However, the estate cannot be closed for at least ninety days to give the creditors a chance to file a claim for payment against the estate. After ninety days, if a creditor does not come forward, they will be barred from collecting against the estate.
Once probate is filed, notice has been given, the debts have been paid and the property has been distributed the estate can be closed.
If you need to speak to a Boise Probate Attorney or an Idaho Estate Planning Lawyer, please call (208) 472-2383.