Probate
Probate is how the will of a dead person is taken and used by a court.[1] Probate checks that paying the dead person's debts, and giving away the dead person's money and property follows the instructions in the will.[2] In many jurisdictions the court where probate happens is called a probate court.
Probate follows these steps:[3]
- Filing of the will and opening an estate in the probate court,
- Giving notice of the probate proceeding to legal heirs, beneficiaries, and creditors,
- Checking that the will is legal and valid,
- Figuring out the value of the property in the dead person's estate,
- Paying the debts of the estate, including taxes, and
- Giving the heirs of the estate their inheritances, the gifts that the dead person left to them in the will.
For people who die without much money or property, many jurisdictions allow simple probate that is cheaper and easier to do.[4]
Probate Media
An attorney meets with client for estate planning.
References
- ↑ "The Probate Process". American Bar Association. Retrieved 14 June 2017.
- ↑ "How Probate Works". ExpertLaw.com. Archived from the original on 20 September 2017. Retrieved 14 June 2017.
- ↑ "What is Probate?". Oregon State Bar. Retrieved 14 June 2017.
- ↑ Collinson, Patrick (21 September 2013). Probate: avoid a final rip-off when sorting out your loved one's estate. https://www.theguardian.com/money/2013/sep/21/probate-avoid-rip-off-comparing. Retrieved 14 June 2017.