Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How is an Estate Probated?

Estate probated
0
Posted

How is an Estate Probated?

0

The following is a simplified outline of the general probate process: (1) A Petition (and original Will if there is one) is filed with the court; (2) The personal representative named in the Will or an administrator (if there is not a Will) is appointed by Order of the court;. (3) For approximately four months from the date of mailing the Notice to Creditors or from the last date of publication of the Notice to Creditors, creditors of the estate can file claims against the estate. This would include prior creditors or judgment creditors, debts resulting from last illness, funeral expenses, taxing authorities, etc. (4) During this period, the personal representative/administrator has to identify and collect the assets of the estate. To do this, the personal representative/administrator finds all bank and security accounts, debts owed to the decedent, property owned by the decedent, etc. The personal representative/administrator prepares an inventory of the estate and files the inventory

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123