What is Probate?

Probate is an enemy of asset protection. To discuss probate further, we need to answer the question what is probate. The probate law varies from state to state. But the answer to the question 'what is probate' remains universal. For specific probate law, see various sections such as California probate code, Atlanta probate attorney, probate court, estate probate, Colorado probate, Denver probate court, and Texas probate code and laws.

What is probate?

Probate is done through the probate court. The purpose of probate court is to make sure your will is valid. For a will to be valid, it needs to be signed and witnessed correctly. Probate also ensures that all debts and taxes have been paid. Naturally the process of probate can take a very long time, years in some cases. In many occasions, the validity of the will is challenged and rightful heirs and inheritors are denied their intended shares. Probate is a mess and you are less likely to end up with what you should have.

What happens during probate?

During probate, the probate court will appoint a personal representative or executor of the probate case. This executor is usually the person named in the will. The executor's job is to oversee the probate case through the probate court. An attorney is often involved to carry out the wishes stated in the will.

Responsibilities of the executor of a probate case

• open an inventory the deceased person's safe deposit box according to the laws of the state
• get copies of the death certificate
• inventory all assets, policies and funds
• process payments of taxes and any valid claims of creditors
• keep records of funeral expenses
• notify the Social security administration of the death and find out if any survivor benefits are available
• employ anyone necessary to assist the probate case such as accountants, CPAs and attorneys
• get the names, addresses, and the social security numbers of all persons named in the will and distribute the inheritance
• make funeral arrangements if necessary
• put a death notice in the local paper