Probate is the process of legally establishing the validity of a will before judicial authority and settling the estate and belongings of the deceased, making sure any remaining will is valid and distributing assets to those listed on the will.
The probate process typically includes:
•having property appraised
•paying debts and taxes
•proving in court that a deceased person’s will is valid
•identifying and inventorying the deceased person’s property, and
•distributing the remaining property as the will instructs.
How Long Will Probate Take?
Finding, securing, and managing your assets may take anywhere from a few months to a year. Once all debts are settled, the courts will grant the executor permission to divide what remains to certain people or organizations mentioned in the will.
What Does Probate Cost?
Probates rarely prosper your beneficiaries, and will always cost them money and time. If your estate will have complicated problems that can’t easily be paid with the property you left, it would be a wise decision to look into planning to avoid probate. We can help you with many different types of trusts including living trusts (inter vivos trusts), spendthrift trusts, testamentary trusts, miller trusts, honorary trusts, special needs trusts, gotten trusts, irrevocable life insurance trusts, etc.
If you are unsure about what you may be leaving behind and how it will affect your loved ones, give us a call today and let us help you resolve any uneasiness you may have.
G. David DeLozier, P.C., law firm; phone 602-464-9666; website: www.gddpc.com; email: firstname.lastname@example.org.