What is Probate?
If your loved one dies, their estate will likely have to go through probate. Probate refers to the process of validating and administering a will. An executor will be appointed to manage this process, although the court will assist as well. It is also a good idea to have a lawyer on your side, as the process can be complex in some cases.
Even if there is no will, you will need to go through the probate process. When a person dies, their assets are commonly reviewed by a probate court. A probate proceeding typically begins by determining whether or not the deceased had a will. A will contains instructions on how assets are to be distributed after death. If there is a will, it needs to be filed with the court by the executor.
The executor has a huge role. The executor is responsible for distributing assets as well as paying off any taxes and debts owed by the deceased. If there is a situation where a deceased person’s debts outweigh their assets, the administrator may choose not to initiate probate.
Typically, the steps include:
- Filing the will. The will is filed with the probate court. If there is no will, the court must appoint an administrator.
- Notifying heirs and creditors. The court notifies potential heirs and creditors of the decedent’s death.
- Inventorying the estate: The executor or administrator must compile a detailed inventory of the decedent’s assets and debts.
- Appraising the estate: Some assets may need to be appraised to determine their value.
- Paying debts and taxes: Debts and taxes owed by the estate must be paid before any distribution can occur.
- Distributing the estate: The remaining assets are distributed to the beneficiaries according to the will or state intestacy laws.
- Closing the estate: The executor or administrator files a final accounting with the court and requests the estate be closed.
The probate process is not the same for all estates. There are a few things that can affect it:
- State laws. Probate laws vary by state, so the process can differ from Florida to New York to Illinois, for example.
- Type of assets: Not all assets go through probate. For example, jointly owned property or assets with designated beneficiaries (such as life insurance) usually bypass probate.
- Estate value. It is possible that smaller estates may be able to go through a simplified probate process.
Contact Our West Palm Beach Probate Attorneys Today
The loss of a loved one brings about legal issues such as probate. The process can be lengthy and time-consuming, so do not attempt it on your own.
When you have lost a loved one, you want all the support possible. West Palm Beach probate attorney Brian K. McMahon, P.A. can assist you with navigating this complex issue. Call the office today at (561) 658-1789 or fill out the online form. We serve the West Palm Beach, Boca Raton, Port St. Lucie, and South Florida areas.