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Understanding Probate
robate is known as the seen the ugly probate hearings on
legal process that settles television, but real life needn’t
the estate of the deceased be so dramatic if the key players
and how the property of that do not allow it to become this
person should be distributed. The way.
probate process can really vary
from state to state, so these are In most states, if someone has
just general guidelines. If you passed away without completing a
are involved in the probate will or trust, the property of
process you might want to seek the deceased will automatically
legal counsel with an attorney become the property of his or her
that has experience with wills, spouse and there is no need for
or even those that have probate. Yet, there are cases
experience in probate court to where the surviving spouse does
protect your rights and really not automatically get the
understand the probate system in deceased individuals property,
your state. If you are looking and then it is necessary to
for general information, you have divide the estate of the
come to the right place. Every deceased, whether or not the
probate is different because decedent had a will. The probate
there are different sums of court, the court that has
money, different pieces of jurisdiction over such matters,
property, different debts, and will help those involved decide
different people that want or do how the property is divided, and
not want to take part in the that it is divided in a legal
process. Probate does not have to manner. The laws vary from state
be an ugly process if all parties to state, and this is where the
can agree to work together to division of property can get
preserve the memory of their quite tricky if you or the people
deceased loved one. We’ve all are you are working with do not
know the laws well. The first task of the executor or
administrator is open the case
A will generally names an with the court. This process
executor, which is a person that differs from state to state, but
has the huge task of ensuring is generally not all that
that the will is carried out difficult. Next, the executor
according to what the deceased will need to inventory and
wanted. Obviously, the most collect the property of the
common job of the executor is to decedent. Some of the decedent’s
organize the whole assets with property will not be involved
the help of the probate system. because they will pass through
If there is not a will and there contracts from one person to
is not an executor of the estate, another, so there is no reason to
then the probate court or another probate these items. Items such
court that has jurisdiction can as life insurance policies, bank
appoint an executor. The accounts, or other things that
appointed representative of an clearly name a beneficiary or
intestate estate is called an have a “payable on death” clause
administrator instead of an that so names another person will
executor. If the representative not be a probate issue they will
of the estate is anyone other simply transfer to the named
than the named executor they are individual. After all of the
known as the administrator with assets have been inventoried and
the will annexed or administrator organized, the executor will pay
c.t.a. from the Latin phrase cum any debts and taxes that are
testamento annexo. owed. Then, the executor has the
task of actually distributing the
What to expect during the probate remaining property to the
process beneficiaries of the decedent as
they have been instructed to do
so in the will, or if there is best way for people to avoid
not the will, according to the putting their loved ones through
law. the probate process is to
establish a living will. A living
It is not uncommon for there to will is a separate entity that
be disputes during this process. enables a person to transfer
Anyone can make a claim on an ownership of all of his or her
estate by petitioning the real property such as houses and
executor or the court. If the cars from him or herself to a
court rejects the claim, the trust that can be revised at any
individual with the claim may time. If the person passes away,
file a lawsuit to attempt to the people named as the
prove their claim and collect the beneficiaries in the trust are
money or the objects that they now the owners of the trust and
are saying they are entitled to. the property mentioned within.
If there is a lawsuit, the court The great thing about the living
is more inclined to treat the trust is that it’s not a public
probate process more formally, process, so it really helps to
which makes the process much more preserve the privacy of the
difficult as it must approve of deceased as well as his or her
every single transfer of property family members. When probate is
in the will. required, an estate tax is
generally required as well and a
How to avoid probate living will can help avoid this,
too. While a living trust may
Unfortunately, probate can take reduce the estate taxes, some
quite awhile. It is not uncommon will generally have to be paid
for the probate process to take regardless of whether there is a
more than a year and for all living trust or not, but every
property to be distributed. The little bit helps!
to help you loved ones avoid the
Because probate can take a long stress and disheartening
time, it’s understandable that experience of probate, so plan
people would want to avoid it. ahead and see if you can’t
The problem is that avoiding establish how things should be
probate takes foresight that many and who should get what when you
of us simply do not have. Living pass away.
wills and trusts are the best way
About the Author:
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