Probate
Probate is the
legal process used by the Courts to administer a decedent's
estate. Some of the reasons for probate are to clear the title
to property, give notice and pay creditors, and if they had a
will, to disburse the estate property as they so
wished.
An estate consists of all
property that was owned by the deceased at the time of death
that did not otherwise transfer outside of the court. For
example a bank account that has a designated beneficiary named
to receive the funds upon the death of the owner of the
account. This account is commonly referred to as payable on
death bank account. These accounts are very common and you
might have one yourself.
Once a probate
has been opened it stays opened until all debtors are dealt
with, title is transfer correctly, taxes are paid, and any
other lose end that need to be addressed are addressed. There
is an estate representative that works with the attorney to do
these things they are referred to as the executor if there is a
will or an administrator if there in not will. This person is
named in the will or is a close family member or friend. They
are responsible for making sure the probate is performed
correctly. This is why going through probate without an
attorney is difficult and burdensome. Once the court see that
the estate has been handled correctly the probate can be
closed. This is just a brief overview of the probate process
and should be discussed in more detail with an
attorney.
Not everyone
needs to go through the probate process.
Probate can be expensive
and a good estate plan can help you find ways to save
money. To lean more you should go to the estate
planning section on this website or call to
make an appointment. If you would like to know what
to expect before coming to our office, please see our
Meeting
with an Attorney section.
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