Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney to address your specific situation.
Detailed Answer
1. Appointment of a Personal Representative
In New Hampshire, the probate court appoints a personal representative to manage the estate (RSA 556:3). This person collects assets, pays debts, and distributes remaining property. If the decedent named an executor in a valid will, the court usually honors that choice. Without a will, the court selects an appropriate family member or creditor.
2. Identifying and Inventorying Assets
Within four months of appointment, the personal representative must file an inventory and appraisement of all probate assets with the probate court (RSA 556:6). Key steps include:
- Gather bank statements, real estate deeds, investment records, retirement accounts, and personal property lists.
- Obtain professional appraisals for real estate, jewelry, art, and closely held business interests.
- Document values as of the date of death.
- File the inventory form with the court’s probate division. See RSA 556:6.
Link: RSA 556:6 – Inventory and Appraisement
3. Settling Debts and Expenses
The personal representative must notify known creditors and publish a notice to unknown creditors. Claims generally must be filed within six months of notice. The representative pays valid debts, funeral expenses, taxes, and administrative costs before any distributions (RSA 556:8).
4. Distribution Among Heirs
Distribution depends on whether the decedent left a valid will or died intestate.
a. Testate Succession (With a Will)
The personal representative distributes assets per the will’s terms after debts and taxes. If a beneficiary contest arises, the court resolves it before distribution.
b. Intestate Succession (Without a Will)
When no valid will exists, New Hampshire law dictates how to split assets among heirs under RSA 561:
- Surviving spouse receives all if no descendants.
- If there are descendants, the spouse and children share the estate: spouse receives one-half, children split the remainder per stirpes.
- If no spouse or descendants, assets pass to parents, then siblings, and more remote relatives.
Link: RSA 561:1 – Intestate Succession
5. Closing the Estate
After distribution, the personal representative files a final account and petition for discharge. The probate court reviews the accounting and, if approved, formally closes the estate (RSA 556:22).
Link: RSA 556:22 – Final Account and Discharge
Helpful Hints
- Keep detailed records of all transactions and communications.
- Obtain multiple appraisals for high-value items to ensure accuracy.
- Communicate regularly with heirs to manage expectations.
- Work with professionals—appraisers, accountants, and attorneys—to avoid errors.
- File creditor notices promptly to limit unknown claims.