Estate Settlement Services

When Pennstar Financial Group is named executor of an estate, our professionals attend to every detail. Provided is an overview of the role your representative will play in ensuring your needs are managed with care and precision.

Initiation of Services

• Locate and study will and any codicils to the will
• Conduct personal meetings with the family and family advisers

Estate Protection

• Collect and safeguard valuables
• Insure and protect property as necessary
• Gather and preserve decedents’ financial records and papers

Probate

• Arrange to have the will probated (filed with the Court)
• Determine whether or out-of-state estate administration will be required
• Defend will against any attacks. If necessary, locate witnesses
• Obtain formal appointment

Assemble and Inventory Assets

• Transfer bank accounts and securities to estate
• Collect money owed or payable to the estate
• Locate and take control of all other assets
• Compile detailed list of estate assets, including those not passing by will

Appraisal

• Establish market value of all assets on date of death
• If need for tax purposes, revalue assets six months after death
• Check availability of reduced valuation for unusual assets

Estate Management

• Analyze estate’s cash needs; decide how to raise the necessary funds
• Collect dividends, interest, rents and other estate income
• Look after real estate and supervise business interest as required
• Maintain detailed records of all estate transactions

Claims

• Notify estate creditors as required; pay just claims
• Pay final medical bills and apply for medical reimbursement
• Question doubtful claims and defend estate against those not justified

Accounting

• Submit progress reports to beneficiaries as settlement of estate progresses
• Prepare an informal final accounting for all beneficiaries and the Court

Distribution

• Pay cash legacies and other bequests as directed in the will
• Transfer funds to trust as called for in the will, after arranging meeting between trust officers and beneficiaries

Talk to your Pennstar Financial Group representative today to book an appointment.