The first step to understanding the probate process is to understand what probate is.

What Is Probate?
When a person passes away, they leave behind their “estate.” An “estate” consists of a person’s assets (i.e. money, real estate, worldly possessions, etc…) as well as their debts (i.e. unpaid taxes, outstanding expenses, etc…). Probate is the court-supervised process of settling any unpaid debt and distributing the remaining assets appropriately among the deceased’s heirs or beneficiaries.

An Overview of the Probate Process
Probate proceedings take place in the state where the deceased was living at the time of their death. It is important to understand that probate processes vary from state to state; therefore, we are only able to provide an overview of the general probate processes. If you are involved with an estate that is subject to probate, it is important to work with someone familiar with the probate system in the state in which the estate is in probate.

After a person passes away, their affairs need to be put in order. In many cases, a person’s estate is placed in probate as the means to finalize a person’s financial affairs after their death. When an estate is in probate, an executor or personal representative will be assigned to organize the deceased assets with the help of the probate system.

The probate process begins when the executor opens a case with the court. The executor is then responsible for inventorying and organizing the deceased’s qualifying assets. Once completed, the executor is responsible for paying any remaining debts that are owed by the estate. Finally, the executor has the task of actually distributing the remaining property to the beneficiaries as they have been instructed to do so in the will, or if there is not the will, according to the law.

Do you have an estate you need to sell? Fill out our form to see if we can help. 

The information contained on this site is not intended as legal advice. Consult appropriate professionals for legal advice and tax implications.