Legal Question in Wills and Trusts in District of Columbia
Estates
How do I open an estate and how much cost is involved? In addition I need have a PR assigned, what is a PR?
1 Answer from Attorneys
Re: Estates
To open an estate, you need to file a petition for
probate with the Register of Wills in the
court house. The Register of Wills will then
set a bond for the estate. You can satisfy the
bond by purchasing a bond similar to buying
an insurance policy. There are bonding companies
in the court house. The cost of the bond is
a percentage of the amount of the bond, usually
several hundred dollars. Thereafter, you will need to gather
up the decedent's assets, determine their
liabilities and then file an inventory of the
assets with the Register of Wills. After you
determine how to dispose of the estate, you file
an account. When the account is approved, you
distribute the property and funds. In the mean
time, you need to file all tax returns of the
decedent and the estate. We can assist you with
this process. We are admitted in the District
of Columbia. There is no charge for the
initial consultation.