Understanding the Probate Process

  • By sjoiner
  • •
  • 22 Dec, 2021

A helpful article explaining the basics of a typical probate process, including what to do when a loved one dies, the process, and steps you should take moving forward on their behalf. 

Probate is the legal process that determines who gets your money when you die and leaves something to your loved ones. It can be a painful and confusing process, but it doesn’t have to be. The probate process can be simplified to a few simple steps. Let this blog help you understand how a probate process works and what to expect.

Probate is the process of transferring the assets of an estate to the beneficiaries named in the will or trust. The probate process is different from a simple grant of probate because a grant of probate simply grants the executor the authority to act on behalf of the estate. While probate has a broad definition, it is usually used to describe a court process in which a court determines who should receive the assets and debts of a deceased person's estate.

If a person dies without a will or other type of legal document, his or her property will be distributed according to state law. This is called probate. It’s important to understand the probate process to make sure that assets are distributed as you wish in the event of your death. This article will explain the probate process, as well as strategies to minimize the impact of probate on your estate plan.

Frequently Asked Questions about the Probate Process: 

What happens during the probate process?

During the probate process, an executor (also called an administrator) creates an Inventory and Appraisal of the decedent's estate, which includes all of their property.

What is the inventory and appraisal?

An inventory and appraisal is a list of what the decedent owned (their property) and what its value is (the appraised value).

What if the decedent had minor children?

If the decedent had minor children, their estate goes through a more complicated process, known as "administration."

What parties are involved in a probate case? 

The executor or personal representative of an estate, and the beneficiaries or heirs who will receive the assets of the estate.

What things should are important to watch out for in probate situations? 

There are many steps which need to be taken in order to ensure that an estate is handled properly and legally. Neglecting any of these could lead to probate challenges and delays.

Is probate necessary?

Probate is not always necessary. If someone has made provisions to avoid probate, the executor may not need to apply for a court order to distribute assets.

These questions hopefully better explain the importance of having a well laid-out estate plan for you and your loved ones futures. A well-executed estate plan can save family members significant time and expense by reducing or eliminating the need for probate.

As our Senior Attorney, Mary Nash always says "Anyone with $1 and two relatives needs an estate plan." 

Call our team at (501) 851-0040 for more information on planning for your future, today! 

More Posts