What is PROBATE?
1) It legally validates a will.
2) It pays all the creditors of the deceased.
3) It distributes any remaining assets (after settling the debts) among the heirs.
See the Glossary of PROBATE Terms if you are an heir or will be in charge of an estate.
The Average Time to Settle a PROBATE is 1 1/2 years. Many Run Longer.
PROBATE Does Several Things
A little known fact is that the bills owed do not stop when someone dies. The estate (more
specifically the one appointed to take charge) is responsible to keep up the payments or lose
the property in question. Notices to creditors are published but often many of the payments
must initially come from the assets of this responsible person.
a) The heirs are still grieving their lost loved one, but have to deal with the money and
property.
b) It is complicated.
c) It usually takes a lot of time.
d) There is usually a lot of pressure from outside to pay outstanding liabilities.
e) There may not be enough assets to cover the liabilities.
f) Liabilities may have to be paid out of pocket instead of from estate assets.
g) The decedent may have lived a far distance from the person in charge, making it necessary
for this person to take a leave of absence or quit his/her job for many months during the
settlement.
h) Heirs normally want their part of any inheritance NOW, not wanting to wait 1, 2, 3 or
more years to get their share.
PROBATE Becomes Highly Emotional in Several Ways.
The entire probate process will differ from state too state and the size and complexity of the
"estate." In some states, small estates may even avoid a formal probate, however the debts must
still be paid. The minimum time an estate will likely be open is probably from six months to a
year; often more depending on the complexity of the estate.
What is PROBATE?
Family Probate Help
The term probate means "to prove" the will through a proceeding that usually occurs in
court. However, a will does not always exist (or is not available) and laws are established in
each state to deal with the orderly distribution of assets (or property) to those who are
entitled to inherit them..
This property is said to be owned by the "estate" of the deceased person and must remain so
until the judge or other court-appointed person says it may be distributed. However, it is
often necessary to sell the property in order to satisfy the debts of the estate to close the
probate. If you have property that you need to sell please contact us for immediate
assistance
The probate process seems to many outside the legal world to be a long, drawn-out and
expensive process for settling a deceased person's affairs. Many times the probate may be
fairly straight-forward and not require an attorney. You may wish to have a probate attorney
review your case. This information is not legal advice and is meant to give you an overview
of the process.