what is probate estate

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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.

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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.

  • What is included in probate estate?

  • Probate estate includes the decedent’s own property, but not the assets placed in trust, payable-on-death accounts, or other assets over which the decedent had control, but did not directly belong to him/her. The probate estate is discharged through the decedent’s will.

  • 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 probate estate in Illinois?

  • Connecting ? Probate estate is the entirety of a person belongings that are distributed through state laws upon their death. This may include all real and personal property, as well as other non-physical assets like bank account funds and securities.

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