For those left behind when a loved one dies, winding up an estate can seem overwhelming and full of unanswered questions.We should all have the confidence to play the 'what if' game, knowing that we can succeed regardless of the unknowns.Each of our estates, large or small, is going to be subjected to a legal process. This process is administratively burdensome and, depending on the circumstances of each estate, can be extremely complex.
You should therefore start by understanding the process involved in winding up an estate – the first step in succeeding at the 'what if' game. Then the executor will need to notify the debtors and creditors by way of an advert and by contacting them directly.After this the executor needs to investigate, verify and value each of the assets the deceased owned and any liabilities they had.
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