What is Probate?
Probate is a court-supervised process that takes place after someone dies. Probate sorts out the transfer of the deceased person’s property. It calls for proving in court that a deceased person’s will is valid, identifying and inventorying the deceased person’s property, having the property appraised, paying debts and taxes, and distributing the remaining property as the will (or state law, if there’s no will) directs. The probate process requires paperwork and court appearances by lawyers. The estate pays lawyers and court fees.
Probate is the court procedure used to change title to assets from the name of an individual who has passed away into the name of the living beneficiaries. It is also where all creditors of a decedent file claims to collect their debts and where interested parties who have a complaint regarding the deceased can file their complaint (a will contest). Even without a contest, probate can be costly and time-consuming. Probate is a public proceeding.
Probate is the court procedure used to change title to assets from the name of an individual who has passed away into the name of the living beneficiaries. It is also where all creditors of a decedent are assured that they are paid. In addition, it is the court process where anyone who has a complaint regarding the deceased can appear and file their complaint. That is what most of us have heard of as contesting a Will. And finally, it is a public proceeding.
Probate is a legal process during which the court oversees the distribution of assets of the decedent. If there is a valid will, the assets are distributed according to the terms of that will. If there is no will, the assets are distributed according to the law of intestate succession where each relative takes according to his or her relation with the decedent.
