Probate law is a section of the law that deals with the legal processes of handling the debts and assets of a person after they die. This process includes the administration of an estate. A person does not necessarily have to be rich to be considered as having an estate. Many people have estates that include property that they own such as a home without a mortgage as well as stocks and other bank accounts.
Probate law varies from state to state, so it’s a good idea to know what the laws are for your own state.
The process of probate can be a long and drawn out one which is why many people will do what they can when planning an estate to avoid this process. People may instead decide to create a trust versus deal with probate.
It includes proving that a will is valid. It also includes having the distribution of assets handled with the oversight of the executor or administrator of the will. Taxes have to be paid out of the process and so do any debts that the decedent died with so this can take a large sum of money away from the heirs of the will.
The legal process starts when a person dies and the family files a probate petition with the court. A family law attorney can help with this step. The death certificate must be obtained and submitted with the probate petition before the case can begin. The process can be held up if any family member or anyone contests the validity of the will.
This is why the process may also be started about 90 days after the person dies. Attorneys are paid out of the proceeds or assets of the case. Probate is sometimes required and is not an option so always consult with your family attorney to find out what the laws are regarding probate law in your area.…