Q: My understanding is that IRS regulations require that an estate be administered by a court if the estate contains over
$100,000 of US Treasury securities at the time of the decedent's death. Is there any way around this requirement since it would require I incur legal fees? Rest of estate was in name of a revocable living Trust and, therefore, did not require involvement of a court or any legal expense.
A:
"Administered by a Court" is a rather strange turn of phrase. So far as I know, if there is 1 CENT of an asset that is listed in the name of the deceased and no beneficiary named on the asset, Probate is required to transfer the asset in EVERY state. In Michigan, there are 'simplified' procedures for estates of non-real property less than $x but at 100 k you are well above the limit.
PROBATE is not necessarily horribly expensive, time consuming or difficult, and is probably what Treasury is looking for. Please consult with a local probate attorney (where the deceased lived at the time of passing) and review all the facts of the case to determine what you need to do next. Don't let the 'cost' factor dissuade you from doing this right the first time. It is NOT necessarily horribly expensive!
--this answer is offered for informational purposes only and does not constitute legal advice nor does it create an attorney/client relationship. Please seek local licensed legal help if you have questions!
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