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?


Asked on 3/18/02, 11:03 am

1 Answer from Attorneys

Thomas DeCaro DeCaro & Howell PC

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.

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Answered on 3/18/02, 1:03 pm


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