Probate
How Does it Work?
Probate is the court-supervised process of proving a will and last testament if one was made by the deceased. This includes verifying that the will is legal, carrying out the deceased’s last wishes, paying any outstanding debts, and dividing any remaining assets among the beneficiaries.
When the will is written out, it makes the probate process easier on loved ones. The will specifies who should inherit what and it also appoints who would take care of dependents in the event of an untimely death.
Without a will, their estate is handled through the official probate process, set up by the state. The steps that occur vary from state to state, but typically involve the documentation of the deceased’s assets and debts. Each state has a different process for settling an estate. The laws of each state outline what steps must be taken to properly probate an estate, and how those obligations are met if a person dies without creating a will.
Generally, the steps of the probate process are as follows:
Get the death certificate
Petition the court to become an administrator or personal representative
Identify the assets
Pay the remaining debts, taxes, etc
Notify beneficiaries
Distribute Assets
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