Estate Assets

The law imposes an automatic stay on all bank accounts held solely in the decedent's name to prevent the unauthorized dissipation of funds before the estate's debts are calculated. Banks are legally required to lock these accounts the moment they receive notice of a death, regardless of the needs of the surviving family members. This freeze remains in place until the court appoints a personal representative with the power to manage the probate estate.

We act as a decisive force to accelerate these appointments, ensuring that liquid capital is released to pay for the preservation of the holdings before late fees and interest penalties begin to accrue.

Not all property is subject to the delays and costs of a judicial proceeding, and identifying these non probate transfers is the first step in a successful wealth rescue operation. Assets that utilize a beneficiary designation, such as life insurance policies or retirement accounts, pass directly to the named individual by operation of contract, completely bypassing the court.

Similarly, property held in a trust or as joint tenants with right of survivorship moves outside the probate estate. We perform a forensic review of your holdings to separate these immediate-transfer items from the court-controlled inventory, providing you with instant liquidity while the larger probate case is pending.

A common error in estate administration is the inclusion of non-probate property in the formal court filing, which unnecessarily exposes those items to creditor claims and court fees. When a bank account or deed is incorrectly labeled as part of the probate estate, it becomes subject to the same freeze as the rest of the decedent's property.

This administrative mistake can delay your access to cash for months. At SJKP LLP, we aggressively challenge these misclassifications to pull assets back into the non-probate column, ensuring that your immediate financial needs are met without judicial interference.

The probate estate only includes assets that require a court order to transfer, but the gross estate is a federal catch-all for tax purposes. This means that even if a trust allows you to bypass the court, the value of that trust is still included in the government's calculation for estate taxes. Heirs are often shocked to discover that while they escaped the court's freeze, they are still liable for a forty percent tax on the total value of the Estate Assets. We implement advanced tax shields within your trust structures to legally diminish the size of the gross estate, ensuring that more of your capital stays with your family.

The IRS places an automatic, silent lien on all property included in the gross estate the moment a heartbeat stops. This lien acts as a cloud on the title of every piece of real estate, preventing the family from selling or refinancing the home until the tax liability is fully satisfied.

A title company will not issue a clean policy and a lender will not provide a mortgage if they detect an unresolved federal tax interest. We manage the partial release of lien process with the IRS to allow for strategic sales of your holdings while the final tax audit is still pending, providing the liquidity needed to pay the government without sacrificing the family residence.

A beneficiary designation that is left blank or points toward the estate itself is a functional disaster that pulls non-probate assets into the tax man's reach. This error causes the proceeds to be taxed twice: once as part of the gross estate and again as income if the asset is a retirement account.

The government utilizes these administrative lapses to trigger audits that investigate the entire financial history of the decedent. Our forensic audit of your beneficiary designations ensures that every asset is positioned for maximum tax insulation and immediate distribution.

Institutional creditors utilize automated tracking systems to monitor every probate petition filed in the United States. They know that a death creates a period of family disorganization and they act quickly to file claims before the heirs can protect the equity.

Once a claim is filed, it must be addressed before the estate can be closed. We provide a defensive barrier against these predators, auditing every claim for procedural errors and negotiating for massive reductions to preserve the estate liquidity for the rightful beneficiaries.

States and municipalities utilize estate recovery programs to seek reimbursement for medical care and public benefits provided to the decedent. These agencies prioritize liquid bank accounts because they are the easiest items to seize.

If your inheritance consists primarily of cash, you are at the highest risk of having your inheritance entirely wiped out by a government lien. We implement defensive asset positioning strategies that convert liquid capital into protected classes of property, shielding your family's cash from being drained by state-sponsored recovery programs.

If an estate is insolvent, meaning the debts are greater than the value of the property, the heirs receive nothing. In this scenario, the court takes total control of the property and distributes it according to a strict statutory hierarchy.

Heirs often walk away with zero legacy while the lawyers and creditors divide the remains. We specialize in insolvency defense, utilizing the laws of exempt property and homestead protections to pull specific holdings out of the reach of creditors, ensuring that even in a bankrupt estate, the family retains their most essential property.

Because a decedent cannot sign a new loan and the heirs do not yet own the title, an inherited home cannot be used as collateral for a mortgage during the probate period. This creates a circular trap: the heirs need money to pay the estate's bills, but they cannot access the home's equity until the bills are paid.

This real estate freeze can last for over a year, during which time the property may fall into disrepair or face a tax auction. We resolve these liquidity crises by utilizing special administration orders that grant the executor the power to borrow against the property before the probate is finished.

If the estate does not have enough cash to pay the federal and state tax bills, the government will demand that the real estate be sold. For many heirs, the family home is the only significant part of their inheritance, and being forced to sell it to pay the IRS is a functional tragedy.

This lack of estate liquidity is often the result of poor planning or the failure to account for the impact of estate taxes. We provide the forensic financial analysis needed to anticipate these cash shortfalls and implement life insurance trusts or structured settlement agreements to protect the home from a forced liquidation.

Selling a house or other significant holdings without the proper letters of authority and court approval is a high-risk violation that can lead to the removal of the executor and personal liability for any loss in value.

Title companies will refuse to insure the transaction, and the buyer will be unable to secure a mortgage. We ensure that every sale is performed under the full authority of the court, utilizing the Independent Administration of Estates Act to streamline the process while maintaining a litigation-resistant record of the sale price and terms.

Beneficiaries have the absolute right to demand a formal accounting of every dollar that has entered or left the estate. If the executor refuses to provide information or if the records show suspicious activity, we move immediately to file a petition for a temporary restraining order and the removal of the fiduciary.

By freezing the executor's authority, we stop the drain on the Estate Assets and allow the court to appoint a neutral administrator to recover the lost funds. Vigilance is the only defense against a rogue executor.

Executors and trustees often receive a commission based on the total value of the items under their control, creating a perverse incentive to keep the estate open as long as possible. The longer the assets remain in the fiduciary's hands, the more they can charge in management fees and legal expenses.

This administrative attrition can consume ten percent or more of the inheritance every year. We cut through these intentional delays by filing petitions for a preliminary distribution, forcing the fiduciary to release your money and prove why the case should not be closed.

Commingling occurs when an executor puts estate money into their personal bank account or uses the estate's credit to pay for their own needs. This is a fundamental breach of trust that triggers an immediate surcharge against the executor, requiring them to pay the estate back from their own pockets.

If we discover commingled funds, we seek an immediate court order for an audit and the forfeiture of the executor's commission. We treat fiduciary theft as a criminal act and utilize the full power of the court to restore every cent to the rightful heirs.