If you are the executor of someone’s will, you will have to deal with probate. Most people have heard of probating a will, but may not know exactly what it means. Here is your guide to the probate process and what you need to know.
Probate Basics
Probate is a process that the courts supervise. The point of probate is to transfer a person’s property to his or her heirs after he or she passes. In probate, the person’s debts are paid and the heirs receive the property left to them by the decedent. If a person has a will, then it will go through the probate process.
Contested Probate
People do have rights to contest wills. Often, this will be done by heirs who are disgruntled. In some cases, he or she may believe that they deserve more property, and in others, he or she may believe that the decedent was under the influence of someone else who pushed them to make the will.
Uncontested Probate
Uncontested probate is the smoothest form of probate that you can go through. Uncontested means that no one stands up against the will or claims that there is something unfair or amiss about the will. The probate process is long enough on its own, so many people find it comforting when the will is uncontested.
The Probate Process
During probate, there are a few steps that have to be followed. First, you have to collect all of the probate property and then pay all of the taxes and debts owed by the estate with said property and assets. Once this is complete, you need to collect the rights to the income and settle any disputes that may be against the estate. Once you finish all of this, you can distribute the property to the heirs.
As the executor of the will, you have to manage the person’s affairs after he or she dies. Most executors are named in the will. In most instances, the person who leaves the will can leave property to anyone that he or she wants to. However, there may be some instances where the court overrides the person’s wishes. The process itself does cost money, too. You may have to pay court costs, attorney fees, and more.
Probate can be a complicated process. Fortunately, you can meet with a probate lawyer, like a probate lawyer in Sacramento, CA, for a consultation to find out how to best approach it. Probate, after all, can be a long and difficult process.
Thanks to Yee Law Group, PC for their insight into what happens during the probate process of estate planning.