Probate
Probate is the legal process by which a person’s debts are paid and assets are distributed upon his or her death.
What is involved in Probate?
Probate is a court process designed to settle all remaining debts of the estate before distributing the belongings of the deceased to the appropriate heirs or beneficiaries. It involves publicizing the probate to all interested parties (including creditors), giving everyone time to respond with claims, and settling any claims put forth.
While it is technically a court process, much of the case is handled through paperwork through the mail or electronically. The process can be started by any interested party, including creditors. Often a personal representative named in the will or a close family member nominated as personal representative will begin the process.
Not all estates need to be probated, so it is a good idea to set up a conference with an attorney following the death of a loved one.
Personal Representative
A Personal Representative is named in order to facilitate this process; often a close family member or friend of the deceased. Once nominated by the court, the representative will gather all the decedent's assets, pay down the remaining debts, and distribute the remaining property.
The remaining property is is distributed following the instructions in the will, if there is one, or through the state's laws of intestate succession if there is no valid will.
The death of a loved one is a stressful and confusing time and Personal Representatives can easily make mistakes due to inexperience, grief, or pressure from beneficiaries. This can be costly, as the Personal representatives can be held personally liable for beneficiaries’ losses due to mistakes.
A knowledgeable attorney can guide the representative through every step of the probate process, with reliable, detailed advice, so that the estate is distributed correctly and efficiently.