Estate Distribution Process

Creating a solid and legally binding estate plan is crucial to ensure your loved ones receive your assets in the manner you see fit. However, you’ll also need to choose an executor to handle tasks after you’re gone, and the executor will be responsible for overseeing estate distribution.

Here at Walk-In Wills, we know that the distribution process is often complex. That’s why we provide a wide range of estate planning services to clients throughout Chandler, AZ, which affords great peace of mind.

What to Expect During the Estate Distribution Process

Your estate is made up of many assets, which includes the following:

  • Homes
  • Vehicles
  • Financial accounts
  • Cash
  • Stocks
  • Businesses
  • Life insurance policies
  • Retirement accounts

Things like property can be left to heirs outright, or it can be sold and distributed among several heirs. With financial accounts, one heir can receive all the proceeds, or they can be dispersed to numerous people. It all depends on the wishes of the estate holder and the information they include in their will.

Before assets can be distributed, the executor must make sure any outstanding debts are settled. This is part of the probate process, which ensures the will is valid, that debts are paid, and finally, that heirs receive assets.

Why Choosing the Right Executor Is So Important

Executors have a major responsibility when it comes to estate distribution. As a result, you must make a careful selection. In addition to carrying out numerous duties, executors also have access to your entire estate and can make decisions on your behalf. Accordingly, you should consider the following questions when making a choice:

  • Is the person financially responsible in their own lives?
  • Will they be in good health when the time comes to carry out tasks?
  • Are they responsible and well-organized?
  • Will they invite conflict into the situation?
  • Do they have the emotional fortitude to deal with potentially dissatisfied family members?

We Can Help Guide Your Estate Planning Process

The first step to creating a dependable estate plan is to schedule a no-obligation consultation at Walk-In Wills today.

Please call (480) 470-7000 or contact us for more information. We look forward to speaking with you!

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