How to Understand Probate?

Answer 1

Probate is a legal term and a process. The term refers to the actions by a court to prove what the final wishes of a decedent are and who their legal heirs are. The process is the administration and distributing of the estate left behind by a person with no written instructions or will.

Going through the court probate system is time taking and expensive, which is why persons attempt to avoid probate by having a clear and valid will drawn up by an attorney. The probate court can appoint an executor of a will who then acts as a personal representative for that estate. They determine what the interests of any heirs or other concerned parties are, and whether their claims against an estate are valid and lawful.

Certain probate procedures must be followed when an estate passes into that court’s jurisdiction. There needs to be a published legal notification for creditors and other interested parties to see. Trustees require instruction before distributing assets. Certain property in certain states must be handled separately from other property. Any pending lawsuits must be dealt with. Sometimes real estate must be sold and taxes paid. A large estate may have estate taxes levied against it. Other items just need to be transferred to another person from estate assets.

If there is a will, or if the estate involves holdings of community property, different rules apply. This is why it is important to retain the services of an estate attorney to wade through probate issues. Being caught up in the probate process can delay transfer of assets to rightful heirs. Some property may end up in probate court; other property may not, depending on existing contracts, trusts and other directives.

It is generally accepted that due to the long court probate process and expense involved with going through probate, using legal instruments to avoid probate is better. For this, use an attorney to set up living trusts, wills and other ways to avoid probate estate processing. When a person dies without a will, no one knows what their wishes are for distributing the estate and arguments and unnecessary expenses will follow their death.

Answer 2

Probate is the legal process of administering a person's estate after they pass away. This involves proving the validity of their will, paying debts and taxes, and distributing the remaining assets to beneficiaries. Understanding probate involves familiarizing yourself with the laws and procedures in the jurisdiction where the deceased person lived. You may also want to consider consulting with an attorney who specializes in probate to guide you through the process.