When a person dies, someone
must step in to wind up the deceased person's affairs. Bills
must be paid, property must be accounted for, and items must
be passed on to the people chosen by the deceased person.
If state law requires that all this be handled through probate
court proceedings, the process can take many months, and sometimes
years. Probate is a legal process that takes place after someone
dies. It includes:
- proving in court that a deceased person's will is valid
(usually a routine matter),
- identifying and inventorying the deceased person's property,
- having the property appraised,
- paying debts and taxes, and
- distributing the remaining property as the will directs.
In most circumstances, the executor named in the will is
responsible for handling probate. Typically, probate involves
paperwork and court appearances by lawyers. The lawyers and
court fees are paid from estate property, which would otherwise
go to the people who inherit the deceased person's property.
If, however, before death the deceased person took steps
to avoid probate, the whole process will be quicker and easier.
Probate rarely benefits your beneficiaries, and it always
costs them money and time. Warren Steinborn Associates’
consultants can help you determine if avoiding probate is
something you should plan.
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