Thoughtful estate planning can help you minimize or avoid probate, but sometimes it becomes necessary even though it carries the stigma of having a bad reputation. In reality, most heirs will have to navigate the probate process to some degree after losing a loved one. Understanding what probate is in conjunction with careful estate planning […]
Probate is the legal process of giving formal recognition to a will, naming or validating a personal representative (executor) to administrate the estate, and distributing assets to intended beneficiaries. It also requires paying the decedent’s outstanding debts and federal and state taxes. Each state has different laws determining if probate is necessary or can be
What happens if your loved one dies without making a will, known as intestate? According to your state’s intestacy laws, a probate court will oversee the distribution process of the decedent’s property. Also known as intestate succession, it has similarities to the probate process when a will is present. Still, the terms are not interchangeable—any
Most estate planning attorneys will help you craft an estate plan that minimizes or avoids probate altogether. Probate proceedings are part of the public record and can be very time-consuming and expensive. However, in nearly every case, some probate is necessary, so it is important to understand how to navigate the process. Probate proceedings seek to validate
Learning How to Settle an Estate can be challenging to navigate. Whether you need to identify someone to be your estate’s representative (executor) or you are the chosen representative of an estate and accept the responsibility, there are certain criteria to think through — the complexity of the task and the order in which to