|
|
| |
|
|
FREQUENTLY ASKED HAWAII PROBATE
QUESTIONS |
| |
|
|
"When is probate necessary?" That depends on
what the decedent owned at death. If the decedent owned any kind
of real estate in Hawaii, there will have to be a probate in
Hawaii. Even if the decedent owned only personal property (such as
bank accounts and stocks), if decedent was a resident of Hawaii at
death there will have to be a probate if the assets are worth
$100,000 or more. But if the decedent was a Hawaii resident with
only personal property worth less than $100,000, the estate may
not need probate.
"If the
decedent wasn't a Hawaii resident but owned land in Hawaii, what
happens?" Generally, a probate must be done in every state
where someone owned real estate. Thus, there will need to be a
probate in Hawaii even though a probate is also being done in the
decedent's home state.
"What does
probate involve?" Probate involves filing documents in
court and, if necessary, getting orders signed by a judge. A
petition is filed and a personal representative (the "PR") is
appointed. The PR then does everything needed to distribute the
estate. If the decedent had a will, property is given to the
people named in the will. If the decedent did not have a will, the
property goes to the people specified by law. Usually court
hearings are not necessary, but during the probate numerous
documents are filed with the court to show how the estate is being
handled. Beneficiaries are sent copies of the most important of
these documents.
"Is there
any way to handle an estate without doing a full
probate?" Depending on the size of the estate, there may be
some simpler options,
especially for an Ancillary
Probate.
"How long
does probate take?" The minimum time in Hawaii is 6
months, but often probate for a Hawaii resident takes 9 to 18
months. Some of the other possible options may take less time.
"How much
does probate cost?" Hawaii law no longer requires a fee equal to a percentage of the
value of the probate assets. Most attorneys charge on an hourly basis, so the cost depends
on how much time is required by the case. Legal fees for a full probate usually will run
several thousand dollars, with the final cost depending on the facts and problems
encountered during the case. Out-of-pocket costs (for court filing fees, newspaper
publication, etc.) will add an additional $200 to $700, or more, especially if real estate
appraisals are required. If a Personal Representative has been appointed in a state other
than Hawaii, there is a simplified procedure for getting that Personal Representative the
authority to act in Hawaii. That simplified procedure (called Application for
Acknowledgment of Authority) generally costs considerably less than a full probate.
|
| |
|
|
We
Would Be Happy to Answer Any Probate Questions You May Have
|
© 2001 Sanford K. Okura, Attorney at Law,
A Law Corporation |