Information Gathering and Asset Discovery
Information gathering is where probate becomes real.
This phase determines what exists, what does not, and what the estate is actually responsible for administering. It is also where many timelines quietly expand.
Most probate delays do not stem from court conflicts. They come from incomplete discovery.
Why Asset Discovery Is Slower Than People Expect
Very few estates are fully documented at death.
Accounts may be forgotten. Titles may be outdated. Records may be scattered across institutions, jurisdictions, or decades. Some assets exist only on paper. Others exist digitally but are inaccessible without authority.
Probate requires confirmation, not assumptions.
Until authority is granted, access to information is limited. Once authority exists, discovery begins, but it is rarely instant.
What “Assets” Really Means in Probate
Asset discovery goes far beyond bank accounts and real estate.
It may include:
- Financial accounts, active or dormant
- Real property, including partial or inherited interests
- Retirement accounts and annuities
- Business interests
- Personal property of material value
- Refunds, credits, or pending claims
- Debts owed to the estate
Equally important is identifying what is not part of the estate, such as assets that pass by beneficiary designation or operation of law.
Misclassification here causes downstream problems.
A Common Mistake: Treating Discovery as “Someone Else’s Job”
Many Personal Representatives assume the attorney will “handle discovery.” Attorneys are essential for the legal procedure, filings, and court requirements, but day-to-day discovery often depends on the Personal Representative’s follow-through, organization, and willingness to verify details.
Another common issue is a rushed, surface-level search done just to reassure family members and “move on.” That shortcut often shows up later as delays, amended filings, confusion in escrow, or disputes about whether everything was found.
Practical Method That Works: Follow the Paper Trail
One of the most reliable approaches is also the least glamorous: reviewing financial activity line by line until the picture becomes clear.
A strong method is:
- Pull the last 24 months of statements (bank, credit union, investment, credit cards)
- Print them or review them carefully in a format that lets you annotate
- Read each statement line-by-line
- Mark anything unfamiliar: payees, transfers, recurring charges, deposits, “automatic” payments
- Treat each unknown item as a lead
A single transaction often points to another institution, another account, or another asset category. Discovery tends to unfold like a chain: one clue leads to the next.
Why Surprises Are Common
Many estates uncover assets no one expected.
This happens because:
- Statements were paperless or discontinued
- Accounts were opened years earlier and forgotten
- Family members had incomplete visibility
- Records were lost or assumed closed
- Property ownership was misunderstood
Sometimes, families discover the decedent owned real estate in another state, had older brokerage accounts, or held an interest in something nobody connected to the estate.
Discovery is rarely linear. It often occurs in layers, with new information surfacing weeks or months after probate begins.
Unclaimed Property and “Hidden” Assets
It’s more common than most families realize for money to sit unclaimed after death—refunds, dormant accounts, unpaid wages, insurance proceeds, forgotten deposits, settlement checks, and other items that never reached the intended person.
Some Personal Representatives do this research themselves. Others use third-party services that specialize in asset location work. Those services may charge a fee or a percentage, depending on what is recovered.
The key point is simple: significant assets are sometimes missed—not because anyone did anything wrong, but because no one ran a systematic search.
The Cost of Incomplete Discovery
Missing assets do not simply slow probate. They distort decisions.
Incomplete discovery can lead to:
- Incorrect inventories and appraisals
- Delayed sales or distributions
- Inaccurate accounting
- Court re-filings
- Personal Representative exposure
Courts expect reasonable diligence. “We didn’t know” is rarely helpful if the record shows the search was rushed or undocumented.
Why This Phase Cannot Be Rushed
Information gathering overlaps with nearly every later stage of probate.
Inventory depends on discovery.
Appraisal depends on inventory.
Accounting depends on all three.
When discovery is incomplete, everything that follows becomes unstable.
This is why early progress often feels slow. The system ensures the foundation is correct before allowing movement.
What Personal Representatives Should Focus On
During this phase, the role is not speed. It is accuracy.
Effective Personal Representatives:
- Assume records are incomplete
- Verify ownership and designations
- Document what was checked and what was found
- Treat “unknowns” as leads
- Ask for guidance when the trail becomes complex
If you’re unsure whether something belongs to the estate, or whether pursuing it creates liability or cost, that’s the moment to get qualified advice. Probate punishes guesswork.
Closing Perspective
Asset discovery is not a scavenger hunt.
It is a verification process.
Probate moves forward when what exists is clearly known, properly classified, and accurately documented. When discovery is thorough, later stages feel smoother. When it is rushed, probate becomes reactive.
Clarity here saves time later, even when it feels slow now.