The Probate Process Explained
What is Probate?
If someone close to you has recently passed away, you may be hearing about probate for the first time. The probate process is done through the courthouse in the county where the deceased, also known as the decedent, owned the property. This probate court process must be done regardless if there is a will or not.
Probate Court Process
The probate process is where a decedent’s debts can be settled and, titles are to be held until the court transfers said titles to the beneficiaries. Once the will is admitted to probate, there will be an executor appointed. If there is no will, referred to as “intestate,” the court will need to appoint an administrator of the decedent’s estate. The executor or administrator will be the legal representative of the estate.
Once in probate court, the representative must notify any creditors of the estate. These creditors have a set period to make a claim on the estate’s assets and settle any debts. It is up to the estate’s representative to resolve the legitimate claims of the creditors. The representative must also inventory all of the decedent’s probate property such as real property, business interests, stocks and, bonds.
After the lawful debts are settled, the representative petitions the court for the authority to transfer remaining assets to the beneficiaries. The representative will transfer the assets based on the decedent’s last will and testament. For estates with no will, the assets will be transferred according to state intestate succession laws.
If you are the beneficiary or estate administrator, hiring a probate lawyer is highly recommended. Without legal expertise, it is nearly impossible to navigate this legal process successfully.
The probate process can take up to 6 months. If you are unable to pay for a probate lawyer up front, Homeclarity can assist you with getting probate legal help for no money out of pocket. Homeclarity have expertise and resources to carry out probate efficiently, which includes probate court, wills, probate lawyers and selling probate properties.
For more, go to www.homeclarity.net.