The process of dealing with a person's estate after they pass away, called estate administration, can be rather complicated. Large estates can create some added complexities.
One reason for this is that large estates can often have a wide range of different types of assets in them. Certain types of assets, like businesses, can have particular considerations associated with them when it comes to estate administration.
Another thing that can make estate administration of large estates complicated is that individuals who die with large estates sometimes have very complex estate plans in place. Such plans can be complex in the sense that they use a lot of different estate planning devices. They also could be complex through naming a lot of different beneficiaries.
Large estates can also be complex from an estate administration perspective because they can sometimes trigger some complicated tax issues, like estate tax issues.
There are also a wide range of other things that could potentially add to the complexity of the estate administration of a large estate.
Thus, when a person is charged with handling the estate administration of a deceased loved one who had a large estate, they may feel a bit stressed and intimidated by the situation and they may be quite worried about whether they will be able to handle the administration correctly.
Our firm understands the daunting nature of estate administration of large estates and the concerns those put in charge of such administration can have. We can help such individuals understand their rights and obligations and give them guidance throughout the various steps of estate administration.