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Are You Managing an Estate in Probate, But Don't Know What Probate Is?
A Little Knowledge Goes a Long Way When it Comes to Understanding the Process of Probate
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Probate can be an overwhelming and time consuming process. It’s common for Probate to be a lengthy process where assets are tied up in litigation for months, even years. It is the responsibility of the Executor to oversee the Probate process through.
How Does Probate Work?
Probate is the court supervised process of settling an estate after someone has passed away. Usually, the process starts with a judge determining if the deceased had left a valid Will. It will be the Executor’s duty to execute the specifications of the Will accordingly. During Probate, all properties and assets are accounted for; debts are settled; taxes are filed and paid. If there isn’t a Will, or if the Will is considered invalid, a judge will name an Executor on behalf of the estate.
An Executor’s responsibilities can vary depending on what’s involved. Some general duties of an Executor include:
If all of the affairs are in order, Probate can be a very simple process; however, it is not unusual for members of the family to fight over property, which is a common reason why Probate can take long. Hiring the help of an Estate Planning attorney can help during these times, and can help resolve the problems quicker.
For more information on Probate, download our free report “Probate: An Executor’s Role and Responsibilities” and put your questions about Probate to rest. This user-friendly guide highlights:
Understanding where to begin is the first step in the right direction. But you may not want to take this difficult journey alone. When you are ready to take the next steps, contact us. We are qualified Estate Planning attorneys ready to make this easier for you.
Featured Blog Post
Iowa Probate: Is There Any Way Around It?
There are websites out there that sell supposed one-size-fits-all estate planning documents. However, each state has different rules so it is hard to imagine how you can have one document that would be applicable in all jurisdictions.
That being stated let’s look at some of the specific Iowa probate rules.
Very Small Estates