Most people when confronted with probate are not quite sure what it really is. It can be a confusing and difficult thing to understand that takes some time to understand. But with the right help and the right lawyer, it can make more than enough sense to help you through the process.
Here are 6 questions and answers about probate that everyone should hear.
- What does probate even mean?
It is important to start with a basic understanding of what probate is. Probate is the legal process that occurs after someone dies. It had numerous different parts, but the main ones are proving the will of the deceased person is valid, identifying and taking account of the deceased person’s property, paying back debts and taxes, and distributing what is left of property as indicated in the will.
- What are common terms used in probate?
It is also important to know some terms used in probate quite often. The executor is a person who is in charge of carrying out all of the instructions presented in the will. The administrator is someone who is an executor who was appointed by the court. The decedent is the term used for the person who has passed away. Testate estate is someone who has passed on with a valid will while an intestate estate is someone who has passed on without a valid will.
- Is probate a public process?
If it is required for someone’s assets to go through probate court, then everything that happens in the court is kept on public records. This scares a lot of people because you may start to think that all family secrets and information will be spread into the public, but that is usually not the case.
- When does an inventory of assets need to happen?
There is no specific time limit put on needing to have a complete inventory of assets unless depicted by the court. It is important that the inventory made by the executor is complete and has everything that it needs that could benefit all parties involved.
- What assets need to be known when talking about probate assets?
This is something that is important to know so that way the inventory list that is given to the judge and court is correct. Most things that need to be known are the assets that are in the name of the decedent and are solely theirs. Any assets that are passed down right after the decedent passed are not considered probate assets so do not need to be known or listed on the inventory.
- How long does probate usually take?
It can take anywhere from a few months to a year depending on the situation that the assets and family are in. It also takes this long because there are some major waiting periods between court appearances and when things need to be filed and processed. If ever in need of professional help with probate, contact this Palmdale CA probate firm.