Everything you need to know about probateby Robert Lewis professional speaker
Have you heard the term “probate” before? Some of you might have heard it before but do you understand what does it means? Probate is a commonly misunderstood term. And it is not a problem at all if you are not sure about what probate means. We are here to help you.
People often get confused between probate and estate planning. If you wish to understand things better then you should look for the differences between them. Estate planning is a thing that takes place during the lifetime of a person. You must have heard of living wills and power of attorney as well. These are prepared when a person is still alive. And the preparation of these documents can be called estate planning. But probate is something that is prepared after the death of the person to allocate his or her estate. You can find numerous Wills and Probate law firms to assist you in the estate planning and the probate process. However, you must make sure that you rely on a reputable wills and probate law firm to get the work done right.
Probate: The process
Probate is a legal process that involves the allocation of a deceased person’s estate. This includes the accumulation of everything the deceased had when they died. The process concludes as the deceased’s estate is distributed among legitimate heirs and beneficiaries.
Usually, people create a final will and testament to express their intentions and direction for their property. Therefore, will play a crucial role in the probate process.
What if the deceased has not prepared any will?
In case, there is no will, the probate can still take place and now the court takes the decision on the transfer of the deceased’s estate.
The procedure of probate further includes establishing contacts with local court offices and drafting paperwork or petitions. The time required for probate might be as short as a week or as long as a year, it completely depends on the estate’s size.
Why is probate needed?
Besides, funeral and getting the death certificate, there are several other things that need to be done after the deceased and this includes managing their belongings as well. It can be their physical belongings and intangible ones as well. This is where probate is needed. It doesn’t matter if you are a loved one or a close family member of the deceased, you cannot own what belonged to the deceased without legalities.
Probate is the legal procedure that serves as a guide to settle the possessions of the deceased in an orderly and lawful way.
When the deceased owns no will, their spouse and adult child normally get the priority in opening a probate case as the admin. The representatives of the estate can always rely on
Wills and Probate firm to assist them in legalities.
Created on Nov 14th 2021 23:01. Viewed 75 times.