It’s important that all individuals are aware of the probate process that occur after the death. Your beneficiaries will be the ones who’ll have to deal with the legal process, and having your affairs in order before then will make it that much easier for them.
So what is the overall process behind Probate Law?
The process occurs after a person’s death, and is made up of several steps. First of all, proof must be presented that shows the person has actually passed. Then the courts will have to inventory and identify all of the property that’s been left behind. Beneficiaries and attorneys will appraise the assets and will pay any taxes or creditors that need to be paid. The remaining assets will be handled according to the wishes of the deceased.
Do you need a will?
Regardless of how much property or assets you have, it’s always a good idea to have a will drawn up. Your will will give you the power to determine what happens to your assets after the probate process. You can designate who receives what, how much they receive, and what the assets can be used for. After your death, the person you appointed as your executor will handle your will and will carry out the instructions you left for them.
Is the probate process necessary?
Some people attempt to avoid the probate process because of how inconvenient it is for the beneficiaries. It takes a lot of time and money before beneficiaries receive the assets that were left to them. It’s important to note that the Probate Law is mostly used for those estates with complex issues. An example of an issue would be having a massive amount of debt owed to creditors, and inherited property that can’t easily pay it off. However, if the deceased party doesn’t have any debt, or the deceased has left behind very little assets, the property can be easily handled with a more simplified probate procedure.
Visit the website for more information on the probate process and how it can be handled. There you’ll be able to get free initial consultation on wills, trusts, guardianship and much more. Having this information will help you and your beneficiaries in the long run.
