Insert Pages To Legal Rhode Island Probate Forms For Free

Despite the lack of statutory guidance on executor fees in Rhode Island, the general consensus among legal professionals is that an executor can expect to receive about 2-5% of the estate's value. However, this percentage can vary based on the specifics of the estate and the executor's responsibilities.

In Rhode Island, the following assets are subject to probate: Solely-owned property: Any asset that was solely owned by the deceased person with no designated beneficiary is subject to probate. This could include bank accounts, cars, houses, personal belongings, and business interests.

Probate must be filed in court within 30 days of the heir being notified of the person's death. Claiming estate assets without filing for probate may result in a contempt of court charge and possible jail time.

In Rhode Island this means: If you die with surviving children, but no surviving spouse, your children will inherit everything. If you die with a surviving spouse, but no surviving children, your spouse will inherit up to $75,000 of your real estate and the right to use your real estate for the rest of his or her life.

If a person dies with less than $15,000 of personal property, probate may be shortened under the "small estate" provision. The executor of the estate will have to file the necessary forms with the probate court, but the waiting time for the closure of these estates is typically much shorter and far less costly.

In Rhode Island, you can use a summary probate procedure as long as there's no real estate and probatable property is valued at less than $15,000. Note, Rhode Island doesn't have an Affidavit procedure for small estates.