American Estate Planning Attorney Directory

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Probate Checklist

• Verify information on death certificate. If it is not accurate, order corrected certificates.
  
  
• Locate and secure the original will. It must be filed with the surrogate's court with the probate petition.
  
  
• Open an estate checking account and route every transaction through the account to assure records of all transactions are in one place. Also, carefully explain each transaction to facilitate proper categorization and to assist in addressing any questions raised by beneficiaries or an IRS audit.
  
  
• Search the decedent's apartment or house to identify and secure assets.
  
  
• Write all banks and brokerage firms decedent dealt with (not just where there are current accounts) to identify other accounts or assets, safe deposit boxes, margin accounts, debts and so on. Also, obtain date of death values for any assets.
  
  
• Review the wills and any trusts of relatives for powers of appointment in favor of the decedent. These are rights given to the decedent under a will or trust for the decedent to designate in his or her will where the property governed by the other person's will or trust should be distributed. Review the tax consequences of these with the estate's attorney.
  
  
• If an estate tax return may have to be filed, write each broker, bank and so on for the alternate valuation date (six months following the decedent's death) balances to determine whether the estate would be valued lower at the alternate valuation date.
  
  
• Determine accrued interest on any bank accounts, bonds or other interest-paying assets. This is interest earned on the account but not paid to the decedent before death.
  
  
• Contact the Veterans Administration and the Social Security Administration concerning benefit information and to notify them of decedent's death so that future payments will be stopped.
  
  
• Contact decedent's employer (and possibly former employers) for benefit information, severance pay, death benefits, accrued vacation pay and so on.
  
  
• Obtain appraisals for all material assets such as real estate, business interests, jewelry and so on.
  
  
• Maintain insurance on assets during administration. Have all existing coverage reviewed to be certain that it is up to date and that the estate is properly listed as the insured.
  
  
• Invest idle cash balances in a diversified and safe manner that is consistent with the estate's overall investment objectives.
  
  
• Identify and obtain property in hands of bailees (jewelry for repair, clothes for cleaning, etc.). One way to identify these is to scan the decedent's checkbook. Then contact local service and repair businesses to which checks have been written in the past to determine whether they are holding any of the decedent's property.
  
  
• Write charities (see prior Form 1040, Schedule B; review old checkbooks) to identify outstanding pledges.
  
  
• Write closely held businesses for stock subscriptions outstanding and shareholder (operating or partnership) agreements. Review them for any obligations or rights.
  
  
• Write attorneys used by the decedent to request information concerning outstanding claims, litigation and so on.
  
  
• Write any real estate brokers with whom the decedent dealt to determine whether there are any outstanding realty contracts.
  
  
• Verify that the decedent has received any refunds due on prior federal and state income tax returns received. Review the old returns, and/or speak with the decedent's accountant, to identify the refunds. Then review the decedent's checking and other accounts to determine whether a deposit in that amount was made.
  
  
• Verify that any premiums or refunds due on insurance policies were received.
  
  
• Review decedent's records and contact decedent's family to inquire as to any jointly owned property with the decedent.
  
  
• Make an inventory of any of decedent's safe deposit boxes.
  
  
• Inventory assets in any vacation or second home.
  
  
• Inventory any cash on hand. If there is significant cash, have a witness on hand and consider videotaping the counting.
  
  
• Pay funeral and other administrative expenses.
  
  
• Set up ledger of all receipts and related items for every expense.
  
• Pay taxes and utilities on all real property.
  
  
• File decedent's final individual income tax returns after carefully reviewing with the CPA being used any elections, special provisions governing a final return, the allocation of expenses between the decedent's final income tax return and estate tax return.
  
  
• Verify whether any reportable gifts were made by the decedent (or the decedent's spouse in which the decedent agreed to gift split) prior to death. Were these reported on gift tax returns filed? Are gift tax returns due?
  
  
• File the estate's federal and state income tax returns.
  
  
• File estate's federal and state estate and inheritance tax returns.
  
  
• Obtain additional Letters Testamentary or Letters of Administration if necessary.
  
  
• Obtain additional death certificates if necessary.
  
  
• Make claims for any life insurance policies and obtain Form 712 from each insurance carrier.
  
  
• Make claims for any employer-provided death benefits.
  
  
• Make claims for any inheritances under other wills, trusts and so on of people making bequests to the decedent. Consider whether disclaimers should be filed for any.
  
  
• Make claims for veteran or other government benefits.
  
  
• Make claims for pension or other retirement assets, arrange for any rollovers before the deadlines. Contact your accountant and the bank or brokerage form to confirm these deadlines.
  
  
• Apply for a tax identification number on Form SS-4 for the estate and any trusts set up under the decedent's will.
  
  
• File Form 56 with the IRS notifying the IRS where tax information should be sent.
  
  
• Value all assets at date of death and value all assets at the Alternate Valuation Date, if appropriate.
  
  
• Determine whether the estate received any Income in Respect of the Decedent (IRD) under Code Section 691.
  
  
• File personal property tax returns if applicable.
  
  
• Call the post office and arrange to have all mail forwarded to you as executor. Carefully review all mail to identify bills to pay (if the estate is required to do so), assets to gain control over (e.g., an interest or dividend payment could indicate a bond or stock that you had not previously been aware of).
  
  
• Terminate decedent's lease for residential property if required or if permitted and advantageous. If not, investigate a sublease. Review the lease provisions to determine the rights you have as executor.
  
  
• Obtain all prior gift tax returns since these will be necessary to properly complete the estate's tax return.
  
  
• Determine whether ancillary probate is necessary to address real estate located in different states.
  
  
• Obtain evidence corroborating any debts or claims and then determine if the estate must pay them. If debts must be paid, address them in the budget (cash flow analysis).
  
  
• Review any unpaid medical expenses of the decedent and determine whether insurance will cover them, and if not, whether they have to be paid by the estate.
  
  
• Verify who can legally use decedent's car; verify insurance coverage.
  
  
• Cancel credit cards.
  
  
• Cancel videotape rental, library and other courtesy cards.
  
  
• Notify decedent's banks that they should permit outstanding checks to clear.
  
  
• Obtain prior three years' bank records and income tax returns as they will probably be necessary in the event of an IRS tax audit.

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AEPAD is the American Estate Planning Attorney Directory.  While the information on this site deals with legal issues, it does not constitute legal advice. If you have specific questions related to information available on this site, you are strongly encouraged to consult an attorney who can investigate the circumstances of your situation and the particulars in your state.