Estate Settlement

Estate settlement, also referred to as "settling an estate," is the legal process of managing a deceased person's belongings, ensuring that their Debt is fully paid, so their Assets can be given Heirs and Beneficiaries.

The person who manages these tasks is known as an Executor of Estate and they are legally required to follow the Probate laws of their state that govern the process.

Estate settlement involves a number of administrative tasks, like identifying and valuing the deceased's assets and property, paying any outstanding debts and taxes owed by the deceased person or the estate, and then distributing any remaining assets and property.

The process can be complex and time-consuming, last for many months, and may require the assistance of an attorney or other professionals such as accountants, appraisers, and financial advisors.

Once the estate settlement process is complete, the heirs or beneficiaries of the estate will receive their share of the assets and property.