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The purpose of a letter of testamentary is to show you have the legal right to act as an executor of a particular person's estate. This letter gives you permission to pay an estate's debts, take inventory of the estate's assets and distribute those assets on behalf of the decedent.
2) Letters of Administration is basically identical to letters testamentary but means either there is no will or the person named executor is not serving (i.e. petition for letters with will annexed).
When probating a will, it is necessary for one person to be appointed as the executor.Generally speaking, the executor must obtain a letter of testamentary, which provides legal documentation and proof that they are in fact the executor of the estate.
Most likely you will need an attorney to obtain letters testamentary. Many attorneys offer a free consultation. At least meet with an attorney to make sure letters testamentary is what you need.
There are two components of letter of testamentary cost: the court fee and the attorney's fees. The court fee ranges from $45 to $1,250, depending on the gross value of the estate. The attorney's fees start at about $2,500 and can go up depending on the complexity of the case.
What are letters testamentary? When a person dies and has properly executed a last will and testament that names another person to manage his estate, the court issues letters testamentary.
Avoid Probate in California Altogether A living trust allows a person to choose beneficiaries to receive their assets upon their death without a probate. In such case, there is no need for letters testamentary or letters of administration to distribute the assets of a trust.