Estate Settlement

Settling The Estate

Settling the state involves identifying assets owned by the deceased loved one and transferring the assets to correct people, accomplished only by a will or a trust.

 

One of the legal terms you will need to know in settling an estate is "Probate". The probate process establishes in a court of law the legal validity of a will.  But not all wills require probate, and you may want to confirm with an attorney or a knowledgeable advisor if probating the deceased's will is required.

 

What is Probate?

The Probate Process

In addition to proving in a court of law that the deceased's will is valid, probate also includes:

  • identifying and inventorying the deceased's personal and real property
  • having the property appraised
  • paying debts and taxes
  • distributing the remaining property as the will (or if there is no will, then state law) directs

What Happens When There is No Will

When someone dies without leaving a dated, signed and properly witnessed will, a court decides who should receive the deceased's assets. The state will award property and cash to the heirs based solely on their legal relationship to the deceased. This is called dying 'intestate'. Generally only spouses, common-law spouses, and blood relatives inherit the deceased's estate under intestate succession laws. Dying without a will can create legal problems and sometimes strife in the family.

If you don't have your own will, this may be a good time to consider pre-planning your funeral and estate. When you have a will you're taking care of things ahead of time and making sure your wishes are carried out the way you want. When you leave documents that clearly state who you wish to get your property and cash after you die, you better support your heirs in coming to terms with your death without leaving them with a lot of unnecessary distress and sometimes even strife in the family.

Hiring an Attorney

Losing a loved one can be an overwhelming experience and when you add in settling the estate, the months following a death can be much more than you bargained for. That's when it might be advantageous to hire an attorney. 

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