What Is Probate: 3 Things You Need to Know About This Legal Process

It's hard seeing a loved one pass away. At the funeral, you think about all the wonderful times you spent with that person: the laughs and the tears, the arguments and the makeups, the character-defining moments. 

All you have left of them are memories, and that hurts. But life does move on, and you resolve to hold on tight to everything they have given to you while they were alive.

The next step is the arduous task of sitting through the probate. But wait, what is probate?

If you don't know what that is, you should. But know you're not alone because more than half of Americans don't have a will. 

Here are three things you need to know about the process of probate.

1. What Is Probate Anyway?

If you haven't already guessed, probate is the legal process that is taken when someone dies and leaves assets like land, real estate, and other properties in their name alone. 

But it also includes things like:

• Identifying and validating a will or final testament

• inventorying the loved one's properties and appraising them

• paying off the loans and other debts they accrued, and

• distributing the remaining property to the inheritors as the will (or state laws) require

2. How It Actually Works

Most of these are fairly routine but can be complicated depending on the validity of the will if one exists. But essentially the process works like this:

When your loved one passes, in their will they name an executor who files paperwork for the probate court. An executor can be a probate attorney or someone with knowledge of the situation. The executor will then prove the validity of the will to the judge and present the list of their assets and debts/liabilities as well as the names of the inheritors of them.

During the process of the probate, the executor controls the assets and must make decisions on whether or not to sell various assets to cover things such as debts or court fees.

Once this is complete, the executor can divide the rest between the inheritors named in the will. We at O'Bryan Law offer this service and can make the process easy as possible for you.

3. Not Everything Needs to Go Through Probate

Probate is not always necessary for the transferral of assets from the deceased to inheritors. In fact, it is usually for those whose assets are complicated or have more debt than cash.

But you can avoid probate in several ways, namely Joint Ownerships, Live Trusts, Rights of Survivorship, and more. Probates only cost time and money, especially if they drag on longer than they should.

Probates Don't Have to Be a Hassle

Dealing with a death in the family can be tough, and dealing with question what is probate can add more stress to the situation. But don't worry, O'Bryan Law can help you get through this difficult process. 

Don't deal with this by yourself, let us handle it and we will take care of you while you manage life after. Hold on to those good memories, and those assets too. 

If you want to learn more about our services or if you have any questions that we can answer, contact us here.