Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult an attorney for guidance specific to your situation.
Detailed Answer
Step 1: File for Probate and Appoint a Personal Representative
To start, file a petition in the circuit or county court in the county where the decedent lived. Under South Dakota Codified Laws §29A-3-301 (SDCL 29A-3-301), you petition to admit the will (if one exists) and appoint a personal representative. After approval, the court issues letters of administration or letters testamentary, giving the representative legal authority to act.
Step 2: Locate Estate Assets
Identify all assets the decedent owned at death. Common assets include bank and investment accounts, retirement plans, real estate, vehicles, personal property, and digital assets. Review safe deposit information, mail, and financial statements. Notify banks and institutions of the death and request estate balances.
Step 3: Inventory and Appraisement
Within three months of appointment, the personal representative must inventory all probate assets and report their value to the court. See SDCL 29A-3-501. The inventory lists real property, personal property, and any liens or mortgages. File the inventory with the court to obtain official approval.
Step 4: Notice to Creditors and Debt Settlement
Publish or mail notice to potential creditors within three months of receiving letters, as required by SDCL 29A-3-507. Creditors then have a deadline—typically three months—to file claims. The personal representative reviews each claim and approves valid ones. Pay approved debts and administrative expenses from estate assets before distribution.
Step 5: Distribute Remaining Assets
After debts, taxes, and expenses are paid, distribute the remaining property. If a valid will exists, follow its terms. If not, distribute under intestacy rules such as SDCL 29A-2-102. For smaller estates, consider summary administration under SDCL 29A-3-1203, which streamlines distribution when assets fall below a statutory threshold.
Helpful Hints
- Keep organized records of all filings and transactions.
- Meet statutory deadlines to avoid personal liability.
- Obtain multiple certified copies of the death certificate early.
- Use a probate checklist to track each step and due date.
- Consult a probate attorney if the estate includes complex assets or disputes.