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Probate

A probate is a court proceeding by which a is proved valid or invalid. Probate also represents all proceedings pertaining to the administration of estates such as the process by which assets are gathered; applied to pay debts, taxes, and expenses of administration; and distributed to those designated as in the will.

The Probate Process

  • court determines if an device offered as a will is valid.
  • If the court deems the will valid, it will supervise the distribution of property based on the terms defined in the will.
  • In most cases the deceased will have named the executor in the will.
  • The named will oversee the distribution of assets during the probate process.

If a person dies without a will, the estate will still undergo the probate process. An administrator may be appointed by the court to divide the property. The must then approve the administrator’s distribution of the decedent’s assets.

Types of Probate

  • Small Estate: In most cases this type of probate includes estates ranging from $1000 to 100,000. This type of probate is not available in most states. Property is commonly transferred through affidavit.
  • Supervised: During this type of probate, the court plays a part in approving each transaction. Supervised probates are more expensive and the most formal. Supervised is used in contested estate situations, when the executor’s ability is questioned.
  • Independent: A method used for estates that surpass the asset limit for small estate probate but still don’t require strong court supervision. This process still requires the consent of each beneficiary, unless specified by the will.

Non-Probate Property

In some cases, property automatically passes to a beneficiary without involving the probate proceeding, such as property owned by the deceased and another as with the right of survivorship, trust property, or property held by the deceased and a spouse as a tenancy by the entirety.

Property acquired during a marriage in states also passes to the decedent’s spouse free from probate. In addition, property that passes to another person following a contract does not go through probate.

For legal representation or advice, contact an now.

Wills and Estate Planning Information at NOLO.com




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