Hi, I have a question about probate, what needs to be done with the State/Federal after someone dies ?

Question

My father recently passed away.  He was living in Salt Lake in a nursing home for the last 15 months of his life. He was receiving SS and Pension, which have both been notified & stopped. Prior he was living in Virginia, all is assets are held jointly with me (his son & executor of his will ) He has a little life insurance  with the beneficiaries of his 4 children.  Would he qualify for Small Estate Proceeding... and if so what to do. 
Then if not What to do  
Guess looking for direction on who I need to contact prior to liquidating his assets

Wesley Winsor · Answer

Hello, 
 
When someone dies there is an order of claimants on the content of the estate.  It goes like this:  
 
1. Cost of administration 
2. Creditors 
3.  Heirs or beneficiaries 
 
Life insurance payouts will go directly to the beneficiaries without counting as part of the "estate". 
 
Assets that were owned jointly (if ownership is true joint tenancy) will pass to the other joint tenant(s) without counting as part of his estate either.  There will probably be some paperwork that will need to be done in order for the 3rd parties to recognize that the ownership has changed and inerred to the surviving joint tenant(s). 
 
Assets owned in his individual name will be subject to the claimants above.   If there is real estate in his estate (owned in the decedent's name only) hten it will need to go through probate to pass on to heirs or creditors.   
 
A final tax return is usually filed in the year after the date of death unless the estate has not yet been wrapped up.   
 
If you have satisfied all the higher priority claimants and you have all of the assets in your control, then you can make distributions according to the will.   
 
I hope this helps. 
 
Wes

Q: Hi, I have a question about probate, what needs to be done with the State/Federal after someone dies ?