what is estate probate
Best answer
Probate is acourt-supervised procedure of administering a deceased person’s estate. The probate process involves authenticating a will,paying off debts,and distributing assets to beneficiaries. Probate Without a Will If the deceased person died without having a will,they die intestate.
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What is probate and how does it work?
In easiest-to-understand terms, probate is simply the legal procedure your estate goes through after you pass away. During this legal proceeding, a court will start the process of distributing your estate to the proper heirs. Probate is always easier if you have a Will and/or Living Trust that clearly defines your wishes.
Is probate necessary for a decedent’s estate?
Whether or not probate is necessary for a decedent estate depends mostly on what assets are left behind and their total value. A number of assets don’t go through probate.
What is the next step in probate?
Once the probate estate has been opened with the probate court, the next step in probating the estate is to establish the date-of-death values for all of the decedent’s assets.
What happens to an estate when someone dies?
After a person dies, their estate must be dispersed to the appropriate beneficiaries. This generally happens through a legal process known as probate. A probate estate is one that must go through this process before their heirs can take ownership.