When a family member dies, there is often much confusion about how the affairs of that person (the "Decedent") should be wound up and their assets distributed. Often there are debts to be paid and ongoing bills. In some cases, the Decedent’s financial affairs may have been secret during his or her life. In other cases, the Decedent's affairs may be in complete disarray.

It doesn’t matter whether someone is rich or not; in fact, some of the more vexing problems can occur when there is less money rather than more. What bills get paid? Who deals with the creditors and bill collectors? Where will the cash come from to pay taxes?

If someone has substantial assets, issues may range from federal estate tax questions to deciding how money is to be invested in a trust that continues after the Decedent's death.

If you are appointed as a “fiduciary” (someone who is legally responsible for the finances and property of another), then you have very serious statutory duties and responsibilities. Mistakes or failure to adhere to those responsibilities can result in major personal liability to you.

The Pennsylvania probate process is not a place to experiment, especially if other people are involved, even if they are your relatives. You need professional legal and tax advice in order to fulfill your responsibilities properly and effectively. At Danyi Law, you as the fiduciary are our client: we will work with you and advise you, from the beginning to the end of your estate or trust administration, in the following matters:

• Reviewing the Decedent's legal documents, assets, and liabilities with you.

• Preparation of legal documents for probate and accompanying you to the courthouse when you are sworn in.

• Dealing with the IRS.

• Identifying and handling Pennsylvania Medicaid liens.

• Keeping proper fiduciary records for you, sufficient to produce a fiduciary account at the end of the administration.

• Helping you to deal with beneficiaries, creditors, and other legal issues.

• Handling the sale or transfer of the Decedent's real estate.

• Preparation of the Pennsylvania Inheritance Tax Return (PA REV-1500).

• Preparation of the Federal Estate Tax Return (IRS Form 706).

• Assisting you with the transfer of non-probate assets, such as IRAs, annuities, and life insurance policies.

• Preparation of Fiduciary Income Tax Returns (IRS Form 1041 and PA 41).

• Preparation of Final Accounts and Settlement Agreements with the beneficiaries.

• Petitioning the Court, if necessary, to seek judicial approval of the Final Account and proposed distributions.