The term “probate” is used to define the legal process of handling a deceased individual’s property and disbursement of that property. This is probate law described in its crudest form, however, and oftentimes requires the expertise of an attorney for their knowledge in the complexities that can often arise with such an event. First, an executor or administrator must be appointed as the manager of the decedent’s property; after an executor or administrator has been declared or appointed by a court, the basic process for probate is:

• Collection, inventory, accounting for, and appraisal of all assets that are subject to probate
• Payment of all debts including income/state taxes, estate expenses, and creditors owed by the decedent through assets and property sales
• Legal transfer and distribution of estate property including assets and cash to the appointed heirs and beneficiaries

Problems That May Arise During Probate

While the disbursement of a decedent’s property may at first glance seem a simple matter, some tend to mistakenly believe it to be just that: the mere reading of a will or granting said property to those surviving. However, there are contentions that can present themselves outside of the intended will if an individual is not versed with probate, such as:

• Disputes among survivors or beneficiaries
• Oversight of debts, income and state taxes, and creditor debts owed
• Misusing an outdated will in place of a more current document
• Misunderstanding which assets are subject to probate
• No will causing transference to State Law

While these are but a few, not having the experience of an attorney can not only be problematic during the time of issuance, but may lend to consequential financial errors that could cause problems which might not manifest themselves for some time thereafter. Just like doing your own home repairs, it can be done, but utilizing the hand of a professional will often alleviate unforeseen complications as well as eliminate the stress of having to know everything.

Please contact us for any questions you may have regarding probate law or to set an appointment for consultation: 512-445-2054.