In the most understandable way possible, probate is the legal procedure your estate goes through after you pass away. However, having a Will before your demise makes the process easier for your loved ones.
During the legal process, the court will authenticate your Will, then approve your named Executor, who will be in charge of carrying out your wishes. Also, your estate will be evaluated to assert its total value, after which taxes and debts are paid.
In a situation where there’s no Will, the process becomes complicated and hectic for your loved ones. In this case, your estate is said to be intestate. If you have questions about probate, read on to learn everything you need to know.
The Probate Process
How this process plays out depends on whether you have a Will. In a situation where there’s no Will, the court will appoint a Personal Representative to oversee the distribution of your estate.
Often, your lawyer or Executor informs the court of your death with a copy of the death certificate as proof before the probate process can begin. Your Will must also be authenticated to ensure it was properly signed and dated. After which, your Will is considered valid.
In a case where you left a Will, the Executor, or perhaps the person with a power of attorney, will oversee the process and settle your estate. But without a Will, the court will appoint a Personal Representative for this position.
How To Avoid It
One of the reasons that people want to avoid probate is often for the sake of privacy. But without a Will, this process can take longer and cause a toll on loved ones. Also, the longer the probate takes, the more fees there will be.
There are several ways to minimize the stress loved ones go through, including:
- Establish a living trust
With a living trust, you’re making the Trust the owner of your estate. Upon your demise, your Trust will manage, per your wishes, how the assets will be handled or distributed.
- Gift loved one’s assets while alive
If you want to make it easy on your loved ones when you die, you can begin by gifting them your assets while alive. Then, when your estate value goes down, it simplifies the probate process.
- Jointly Owned
That means you can transfer assets from one person to another, especially when the other is no longer alive. It ensures your loved ones don’t go through the probate process. To ensure that your estate is treated as instructed upon your demise, you need to work with an experienced attorney to work you through getting a Will and having an Executor or Trust. Feel free to get in touch by calling our mobile number or filling out our contact form to book an appointment.