Everything You Need to Know About Probate

In Business Tips by Larry DonahueLeave a Comment

Probate is a legal process that occurs when someone passes away and their assets need to be settled.

It involves making sure that the deceased’s debts are paid, and that their assets are distributed according to their will or state law if there is no will. Probate can be a confusing process for those who have never been through it, so let’s take a look at what it is and how it works.

What is Probate?

Probate is the legal process of administering an estate after someone has passed away. The probate court oversees the process to ensure accuracy and fairness in distributing the deceased’s assets according to their will or intestacy laws if they did not leave behind a valid will. The executor of the estate, also known as the personal representative, oversees this process on behalf of the deceased individual.

The Process of Probate

There are several steps involved in probating an estate: filing with the court, locating and identifying heirs, paying creditors and taxes, accounting for all assets, inventorying property, transferring title to assets, distributing remaining property according to instructions in the will (if applicable), closing accounts (i.e., bank accounts) and other financial matters associated with the decedent’s estate. Depending on the size of the estate and complexity of issues raised by any disputes among family members or creditors, this process may take anywhere from several months to more than two years to fully complete.

Hiring an Attorney for Probate Matters

In some cases, an attorney may be necessary for either representation during probate proceedings or for counsel on legal matters related to probating a large or complicated estate. If you are considering hiring an attorney for your probate needs, make sure you research them thoroughly beforehand; there are many different types of attorneys who specialize in different areas of law related to probating estates. Additionally, it may be beneficial to consult with more than one attorney before selecting one who best suits your needs.

Probate can be a lengthy and complicated process but understanding what it entails can help make it less overwhelming. If you find yourself needing assistance in navigating probate proceedings or understanding your rights as they relate to settling an estate after someone has passed away, hiring an experienced attorney may be beneficial. Make sure you do your research beforehand so that you select an attorney who specializes in the type of legal help you need—and don’t forget that consulting with more than one lawyer prior to selecting one is always recommended! With these tips in mind, you should have no problems navigating through probate court proceedings with confidence!

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