Kansas City, KS asked in Estate Planning and Probate for Kansas

Q: Me and my brother are in probate because our father died..I recently just signed a consent and waiver now what?

I notice final settlement was filed...so what are we waiting on now?...and do I need to worry about if I owe the state money...I'm a heir

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1 Lawyer Answer

Scott C. Stockwell

Answered
  • Estate Planning Lawyer
  • Lawrence, KS
  • Licensed in Kansas

A: There are several different procedures under which the probate proceeding could have been filed. You indicate you recently signed a consent and waiver and that a final settlement was filed. Any person who has an interest in the estate should keep informed about the progress the probate proceeding. Essential information about an estate includes an asset inventory and valuation that is filed with the court. The inventory and valuation would identify what assets are held by the estate and the estimated value of those assets. A second piece of important information about the estate would be a list of the claims made against the estate by creditors and if and when those claims have been approved by the court. The inventory and valuation and the list of approved claims provides a picture of the approximate net worth of the estate. A petition for final settlement with an attached accounting is where the executor or administrator would identify costs of administration (such as legal fees, executor or administrator fees, and expenses) would need to be deducted from the net worth of the estate and the plan for distribution of the estate's assets to the beneficiaries of the estate. A person providing a waiver and consent would typically want to see the sources of information described above to inform the decision to provide a waiver and consent.

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