What Is Probate?

Probate is the court-supervised procedure by which a deceased individual’s estate is distributed to beneficiaries and heirs usually because the deceased person did not have a revocable trust in place. The probate process can take 12-24 months and includes settling debts and ensuring the rightful distribution of assets. During this period, assets will be tied up and unavailable to beneficiaries. Plus, it can be expensive, with statutory fees and probate-related expenses that can eat into the estate’s value. What most people may not realize is that it is not designed to protect your family; it is designed to protect creditors and debtors.

what you need to know…

Probate is a public process, which means your family’s private affairs become a public record and family disputes can play out in the open for all to see. Plus, there are many court forms, steps, notices, etc. that have to be followed in order to get to the end of the process just so you can distribute money to the family. It can be a hassle for the family left behind, but having an experienced team on your side to navigate the process can make all the difference.

In the legal process of finalizing the probate, many important tasks are conducted: 

  • Proves the validity of your will 

  • Identifies your property 

  • Appraises property if needed 

  • Pays off debts and taxes 

  • Distributes assets 

  • Transfers titles 

The executor or administrator will manage your estate throughout the probate process. This person is either appointed by you in your will, or if you do not have a will, is appointed by the family, and will handle a variety of important tasks: 

  • File paperwork upon your death with the court to start the process 

  • Pay bills and debts 

  • Track down heirs 

  • Keep assets safe 

  • Sell assets to pay debts or heirs 

NOTE: It is important to select an executor, which is something our attorneys can assist you with. If you fail to do so, the court will appoint an administrator who will take on the executor's duties. This may not be someone you would choose to do the job, so, to have control, you want to put everything into place right now with your probate lawyer.

Schedule a Free Initial Consultation Today

Navigating through the probate process and managing the complexities of probate can be daunting. Reach out to Nygren Law Office today for an initial free consultation.

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