How best to handle a small estate?
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How best to handle a small estate?
I currently have POA on my father. He does not have a Will and there are 6 children. His estate is under $20,000, mostly items left from my mother who passed 14 years ago. He is in a long term care facility. Is there a document that we can all sign to create an executor that can be provided to the court to speed the dispersal of his items as he owns no property (just nick nacks and trinkets)? He is notcurrently of sound mind to be able to name an executor.
Asked on March 21, 2012 under Estate Planning, Nebraska
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Unfortunatley only your Father can name an executor and if he is not of sound mind then there is nothing that you can do at this point in time. What will happen is that some one will ask to appointed as the administrator of his intestate estate. If you are all in agreement then it should be fine. There are small estate proceedings in every state and if you qualify things will go much easier. But really if all he has are personal effects and nothing that needs to probated like a bank account or a house, then you may not have to do so. Good luck.
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