Probate is the legal procedure that involves validating a deceased individual's Last Will and Testament, examining their assets, settling their outstanding debts and taxes, and distributing the remaining assets to the designated beneficiaries. After a person dies, the court will…
Legally validating a will, naming or validating a personal representative (executor), and transferring assets to intended beneficiaries is a process called probate. It also requires paying the decedent’s outstanding debts and federal and state taxes. Each state has different laws…
A probate court oversees the distribution of a decedent's property if your loved one passes away without making a will, known as intestate. Also known as intestate succession, it has similarities to the probate process when a will is present.…
In spite of the fact that probate can be complicated, long, and expensive, proper estate planning can mitigate unwanted risks by anticipating what might happen and preventing problems before they arise. Sound estate planning can make the probate process run…
In a will, you can stipulate who receives your assets and properties after you die, and the will is legally binding when properly filled out. Your will names a personal representative (executor) who will carry out your directives. In addition…
You can minimize or avoid probate entirely by working with an estate planning attorney. Probate proceedings are part of the public record and can be very time-consuming and expensive. However, in nearly every case, some probate is necessary, so it…
Having a close relative die is one of life's most emotionally draining experiences. In addition to the emotional aspect of loss, there is the stress of handling the deceased person’s estate and affairs. This part can be especially overwhelming. The process…
Probate is the legal process that recognizes a will and appoints an executor to administer an estate and distribute it to the intended beneficiaries, according to the American Bar Association (ABA). Navigating the probate process will vary according to state law.…
Probate litigation can be triggered by a variety of family circumstances. Two fundamental reasons still remain; disagreements over how to handle a mentally incapacitated relative or disagreements over how the estate should be divided after death. A dysfunctional family, a…
Even though probate sounds expensive and complex, it is a legal procedure that formalizes how assets pass from descendants to chosen heirs or beneficiaries. According to your state laws, probate may be necessary depending on the type of property you…