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.
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…
A wide range of issues arise during the probate process that needs the expert services of a probate lawyer for resolution. While many people feel that they can handle the issues themselves without the help of a lawyer, the outcome of such a move is not predictable and is ill-advised. Disadvantages of Self-Representation during Probate…
If you care about your family, you will try and plan your estate early enough to avoid probate. If you procrastinate on it, you will end up leaving your family in turmoil. Lack of proper estate planning leaves your family arguing about the distribution of the estate, encounter long delays and pay a lot in…
An Administrative Proceeding is the process by which an estate is distributed in accordance to intestacy laws of a given state while being supervised in court. When a person passes, if he/she has never gotten around to any form of estate planning and therefore passes away without having a Will or Trust the estate is…
You may have heard of the term Probate, but what is Probate? Well, there are couple of things you need to understand, such as. A person is given the choice during life to plan their estate or to do nothing and leave the pass through of their estate up to the state intestacy laws and…
Ways a Probate Attorney can Help an Executor Choosing whether or not to hire a Brooklyn probate lawyer can be a difficult decision if you’ve been made the executor of an estate. Even if they don’t want legal assistance at the first, eventually, many decide to hire an experienced attorney in Brooklyn to help them…