[WSBAPT] Small estate administration

[Lovie Bernardi]

Dear listmates,

 

I would appreciate input on whether a small estate administration is
appropriate for a potential client. I have the basic facts but client
has not come in yet so am missing a few details. Decedent died
intestate. She is survived by sister and two brothers. Sister wishes to
handle the estate and brothers agree, although it sounds like some
dispute among them may be brewing. There is no real property. Assets are
a bank account with a few thousand dollars, based on some old statements
found in decedent's apartment. A car, on which $7,000 is owed. (I need
to find out the model, year and make to determine the blue book value to
see if this asset has any value to the estate.) Finally, 50% interest in
a tavern that is incorporated. Because it appears assets (liquid funds
at least) are limited, I thought a small estate administration, if
possible, might be the best option. Is it possible to use a small estate
administration process to have the shares in the tavern transferred to
the three siblings?   I have not seen the corporate documents, so I do
not know if the death of a shareholder is addressed. All of this assumes
that the decedent had no significant debt, other than the car. Is it
possible or advisable to use a small estate administration to handle
this scenario? Also, can you file a probate after you have used a small
estate affidavit to take care of some of the assets? (In case we run
into issues with the tavern.) Thanks in advance for your input.

 

Lovie Bernardi

Attorney at Law

Seligmann & Flaherty, PLLC

216 First AVE S, #450

Seattle, WA  98104

(206) 682-2616

 

lovie at sbfirm.com <mailto:joni at sbfirm.com> 

http://sbfirm.com <http://sbfirm.com/> 

 

**********

This e-mail may contain information that is privileged, confidential or
otherwise protected from disclosure. If you are not the intended
recipient or otherwise have received this message in error, you are not
authorized to read, print, retain, copy or disseminate this message or
any part of it. If you are not the intended recipient or otherwise have
received this message in error, please notify us immediately by e-mail,
discard any paper copies and delete all electronic files of the message.
Circular 230 Notice:  This communication may not be used by you or any
other person or entity for the purpose of avoiding any federal tax
penalties.

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20150630/c2ac631d/attachment.html>