Probate
PROBATE PROCESS
"The Title to an Asset directly affects whether the Asset requires probate or not."
Probate courts manage the administration of individual estates after a person passes away. This ‘Probate’ process is necessary to ensure property is correctly transferred to the heirs or beneficiaries of an Estate. Also, the Probate process ensures estate matters are properly addressed, including designating a Personal Representative, ensuring Creditors are appropriately handled, making sure the proper tax forms are completed, etc.
TYPE OF ESTATE
When a person has a Will, their Estate is called a TESTATE ESTATE, and Probate is the proceeding used to determine the validity of the Will and the manner to administer the Estate. After validation of the Will, the Testate Estate will be administered according to the terms of the Will. When a person does NOT have a Will, it is considered an INTESTATE ESTATE, and the heirs of the Estate are judicially determined.
If you or someone you know has a TRUST AGREEMENT, please refer to our “TRUST ADMINISTRATION” Section.
PERSONAL REPRESENTATIVE
A personal representative is classified in the law as a "fiduciary". A fiduciary is a person who has been selected for a position of special faith, trust and reliance. A trustee is another type of fiduciary and the duties and responsibilities someone has in the settlement of an estate are quite similar to the duties and responsibilities that a trustee would have. A personal representative is sometimes referred to the Executor (or Executrix) of the Estate, as nominated in the Last Will and Testament.
For the period of administration of the estate, the Personal Representative is entitled to possession and control of all of the assets of the estate. It is the role of our Law Firm to assist the Personal Representative to properly carry out their duties, and to enumerate the powers and liabilities of the Personal Representative.
CREDITORS
There are two types of Creditors of an Estate: CREDITORS and BENEFICIARIES and/or INTERESTED PERSONS. There is a certain Order in which assets of the Estate are to be used to pay Creditors. It is important the Personal Representative of the Estate timely determine the Creditors of the Estate because they must promptly publish a NOTICE TO CREDITORS in a newspaper in the county where the Estate is being administered. Also, a NOTICE OF ADMINISTRATION must be served on beneficiaries and interested persons of the Estate. Again, these are matters our law firm would assist you with throughout the administration of the Estate.
The legal process of transferring property and administering someone’s Estate can be confusing and complex. There are certain documents and notifications you must file to be in compliance with the law. Also, the period of time after someone passes away can be emotionally difficult for family and friends. Please do not hesitate to contact our office at 321-773-9679, to discuss these important matters.
