Probate
The judicial process that takes place in the court in order to prove the legality of a will is known as probate. This process confirms the validity of the will as the last testament of the demised. In the absence of a legalized and valid will, the estate of the deceased is settled in accordance with the intestacy laws in the state where the real property resided at the time of the deceased individual’s death.
A few scenarios when the probate becomes necessary are: when the death of one of the tenants in common occurs, when there aren’t any beneficiaries appointed, when the death of the beneficiaries occurs before the decedent, when the testament or last will is invalid. While an invalid will is likely to necessitate the probate process, sometimes when the aforementioned scenarios are true, so is a valid one.
Joint tenancy allows an individual to own assets while they share some of the ownership rights of their estate with a tenant in common. Once the death of one of the tenants in common occurs, the specified share of assets of the deceased person has to be probated.
If the demised person owns a payable on death or other related accounts, such as health savings or medical account, annuity, life insurance policy, retirement account, IRA or 401(k) and the assigned beneficiaries pass before the decedent, a probate is necessary. When a person doesn’t have a legalized will that explicitly states what to do with their estate, a probate once again becomes necessary.
One of the best ways to avoid probate is to learn all about it and hire an estate planning lawyer that can guide you through the process! Read these articles on probate to gain extensive knowledge about it and find solutions to your legal problems.
Losing somebody close to you is a hard time for many people. It becomes more difficult when you have to navigate the probate process while grieving. Many people that go through the probate period have admitted that they develop stress conditions; some even become depressed. Due to this, many people resort to working with a…
If you are new to the probate process in New York, you have many questions you need answers to. Today, we look at the sample questions regarding legal issues that clients ask time and again and give you solutions to help you handle probate cases that come up in the future. If you need answers…
An administrator of an estate is tasked with a lot of responsibility when it comes to distributing the estate of an individual. When an administrator knows that the estate has gone to probate, the first step is to notify the beneficiaries of the development. He sends out a notice telling the parties involved that the…
As estate planning lawyers, we come across so many questions from clients. One of the most common questions we get is, “where can I find a copy of the will or all the records concerned with the case?” The good thing is that probate is a public process, which means that the records are available…
The need for legal representation has made the search for a lawyer to become generic – people now look for any lawyer with just enough legal expertise and think they have the best person to work for them – wrong.If you have received a notice of probate to be an executor, hire a lawyer early…
Scenario Andrew owns property in different states in the country, while Arnold owns property in New York exclusively. Do their estates go through the same probate process when they pass away? If the deceased owns all his property in a single county in New York, there is no need to consider switching the probate case…
Scenario Jane had heard about probate from friends and the media; she had never thought that it would reach a time when she would have to experience the process first-hand. She always knew that probate was something for other people, but when her husband died without a will, she was ushered into the deep end…
Ownership of assets falls into various categories – those that you own individually and those tied to statutes or contract, which govern the handover of ownership to a beneficiary. Do you know that since more than 50 percent of people lack wills, the probate process is standard? Why You Need to Differentiate Between Probate and…
The probate process can be stress-free if the circumstances are right, but it can be tough if these circumstances change. When in probate, things can quickly move in any direction. You find that the person you regarded to be your blood brother turns against you and challenges the will, just because you got more than…
Owning a property in another state might be a good thing when you are alive, but when you pass away, it becomes a huge issue. Ancillary probate is the process that helps you distribute this out-of-state property to your family. This means that you have to come up with two probate processes, the primary one…