The probate process varies from one person to the next; however, there are some basics you should become familiar with.
Once you know the ins and outs of probate, you can make more informed decisions in regards to your estate plan. Generally speaking, here are the basic steps associated with probate:
-- The person outlined in the will files the appropriate documents to be named the fiduciary.
-- Notices are sent in regards to the hearing.
-- If there is any reason to question the validity of the will, an objection could be filed resulting in litigation.
-- The fiduciary will take inventory of all assets.
-- All debt is paid by the estate.
-- Remaining assets are distributed as outlined in the will.
In its most basic form, there isn't much confusion associated with the probate process. However, if you've ever been part of this in the past, you know that things can and will come up along the way.
It doesn't matter if you are creating an estate plan or in charge of the probate process upon a person's death, you must make sure you know the law and what is required of you.
Our law firm can help you better understand probate law, including where you fit in and what you can do to avoid mistakes and stay on track.
If you have any questions about probate or estate planning in general, we are here to help. Either way, you know that we are here to answer your questions and make things simple to help you avoid a stressful situation.