23 Mar ABCs of Probate You Should Be Familiar With
Probate is required if a person has no Will. However, it can still be required if the person has an existing Will. Probate is when the court supervises the process that transfers the legal title of property from the estate of the deceased to his/her beneficiaries.
Hiring experienced probate attorneys to handle the whole entire case or just help you file it. You may think this will be costly to you however, you do not pay the probate lawyer out of your own pocket. You can use estate assets to pay the bill before inheritors receive their portions. Probate is expensive and does take time.
The Probate Process
1. Present the Death Certificate to the Court
Your close relative or legal representative will need to notify the county court about the death and provide a copy of the death certificate.
2. Validate the Will
The representative will ask the probate court to examine the will and determine its authenticity in order to declare it valid.
3. Authorize a Representative to Direct the Probate Process
The representative will have the authority to carry out the legwork of the process.
4. Post a Bond
The representative may need to post a probate bond for the estate to ensure the assets are distributed correctly. Why is this done? This protects the beneficiaries from any error the executor might make during the process.
5. Notify Beneficiaries and Creditors
The representative will notify any beneficiaries about death.
6. Determine the Value of the Property
The representative will need to hire a professional appraiser to determine the value of the assets owned at the time of death and using this information to determine the value for the entire estate.
7. Pay Out Fees and Debts and Distribute the Remaining Assets
The representative will need to follow the directions of the will and transfer the titles or deeds to the specific real estate or beneficiaries’ names.
We know it’s hard to think about Probate and the passing of a loved one as the process is lengthy and can take a toll on the close relative in charge to execute this process. Preparing a Last Will and Testament gives peace of mind for the future. Kasunic Law firm proudly provides legal representation for probate matters such as Final Wills and Testaments, Property Distribution Execution, Paperwork Completions, Liabilities Liquidations, and more. Schedule a consultation to review your case with our firm today!