How Are The Provisions of Wills Carried Out?
The process by which the provisions in your Will are followed, or the manner in which the Intestate Laws are followed, after your death is known as “probate.” Probate is the court-supervised process developed under Massachusetts law which transfers the assets in your name at your death to your beneficiaries. It also provides for the determination of the validity of any claims by creditors against your estate assets at your death. At the beginning of a probate administration, a petition is filed with the court, usually by the person or institution named in your Will as executor. After notice is given, and a hearing is held, your Will is admitted to probate and an executor is appointed. Disadvantages of a probate include its public nature, expenses, and the amount of time it takes. For this reason, creating a Revocable Living Trust can save time, money, and help maintain anonymity.
