Owning a home or real estate property is often a source of pride, whether you have just made the final mortgage payment on the house, or the property has been in your family for generations. Real estate is one of the most significant assets a person can acquire in their lifetime, so it’s essential to plan for how it can be transferred or handled in the future. While thinking about a time when you are no longer here may not be pleasant, making an effort to create an estate plan is the best way to support your loved ones and protect your family’s legacy. The prospect of putting together an estate plan can seem daunting, but it by no means has to be difficult. When you enlist the guidance of a caring and knowledgeable Vancouver estate planning attorney, you can trust that the decisions you make are fully informed and support the best interests of you and your loved ones.
A will is one estate planning instrument that addresses a wide range of decisions, preferences, and legal matters. When someone passes away in Washington State with a will, their property (including financial assets and real estate) goes through a legal process known as probate. This post will explore how the probate process works and how real estate considerations and transfers are handled during this process.
How Probate Works in Washington State
When a person passes away in Washington state, their belongings and any property they own must be identified, assessed, and distributed among their beneficiaries. The legal process that oversees these steps is called probate. If the deceased individual (called the “decedent”) leaves a will behind, these documents will be used to distribute the estate according to the decedent’s wishes. However, if the decedent passed away without creating a will, the probate court will administer the decedent’s estate according to state intestate laws. Below are the main steps you can expect to move through during probate.
Locating the Will and Naming the Personal Representative
When a person passes away, anyone who has custody of the will must produce this document within 30 days and deliver it to the estate’s executor or the Superior Court. The will should name an individual that the decedent wishes to serve as the personal representative of the estate. This individual must petition the court to be appointed to serve in this role. Once the court recognizes this person as the personal representative, the personal representative may begin administering the estate. In cases where the decedent has no will, the court will appoint someone to serve in this capacity.
Initiating Probate Proceedings
Once the personal representative has been appointed, this person can file the necessary documents in Superior Court. However, it’s important to understand that if the decedent owned real property in another state, the personal representative should also file an ancillary probate in that jurisdiction. For example, if the decedent owned their primary residence in Washington state but also owned real estate (i.e., a rental property) in another state, the personal representative would need to explore the probate laws of that state as well in order to administer the out-of-state real estate property. These matters can become complex and confusing, so consider enlisting the guidance of a knowledgeable and caring Vancouver probate lawyer to help you move through this process as smoothly and efficiently as possible.
Notifying Creditors and Administering the Estate
The personal representative has several obligations to complete before concluding the probate process. They will need to notify potential creditors of the decedent’s passing (by hand, mail, or publishing a notice in a county newspaper) and pay any outstanding debts to creditors with legitimate claims against the estate. The personal representative must also file any necessary tax returns, identify and value the estate’s assets, transfer titles to real and personal property according to the decedent’s wishes, and distribute the remaining assets among the named beneficiaries or heirs.
Concluding the Probate Process in Washington
Once the personal representative has administered the estate according to the decedent’s wishes and all applicable state laws, this individual should attempt to have each beneficiary or heir sign a receipt and waiver that confirms that they have received the property allocated to them. Finally, the personal representative will file the declaration of completion and present the signed receipts and waivers to the court to formally end the probate process.
Transferring Real Estate During Probate
Once the personal representative has ensured that the creditors have been paid for valid claims against the estate, the property can be transferred to the beneficiaries according to the instructions set forth in the will. The beneficiaries may decide to move into the property, rent it out, or sell it. These options are subject to various documents and filing requirements, so be sure to discuss the specifics of your choice with a knowledgeable probate attorney. Alternatively, if the decedent established a trust before they passed away, the property (including real estate) contained in the trust may mean that the transfer will occur outside of the probate process. Various estate planning tools carry different implications for the ownership and transfer of real estate and other property, so it’s best to discuss your options with a dedicated and caring estate planning and probate lawyer for the most full and accurate picture. Whether you have been appointed to serve as an estate’s personal representative or you are simply exploring your estate planning options in the Portland or Vancouver area, reach out to a seasoned and friendly estate planning attorney today.
If you need help navigating the probate process in Washington or Oregon, the experienced and compassionate legal team at Myatt & Bell, P.C., is ready to answer your questions and guide you through the legal process. Call our Vancouver office at (360) 360-0212 or our Portland office at (503) 641-6262 today to get started.
The content on this blog is for general informational purposes only and does not constitute legal advice. The author of this blog is not an attorney, and the views expressed are solely those of the author. Always seek the advice of a qualified attorney for legal guidance regarding your unique situation.
