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Author: Josh Riverside
This article gives an outline of the legal requirements involved in the probate process. Probate is the judicial process whereby property of a dead person is transferred according to either the decedent's will or laws of intestate succession.
Once a person dies, probate is to be undertaken so that his properties are transferred to other people. If there is a will, its authenticity should be proved in court and the will validated by the court. The death certificate and the will should be presented to the court with prescribed fees, for review and appointment of the personal representative to handle the will. The application must be signed by the applicant in the presence of a notary public.
The court should be convinced that the decedent was of sound mental capability when he wrote the will, that the will is up to date and that it was written without any pressure and in front of witnesses. It should also be convinced that there was no foul play in the process.
The probate court will appoint a will executor [if there is a will] or an estate administrator [if there is no will], and oversee all his/her functions to ascertain that everything goes on in the right direction.
If the decedent was in debts at the time of death, his creditors need to be given sufficient time from the date of notice of probate so that they can file a claim and get back the money owed by the decedent.
Concerning his assets, all of them are not required to undergo probate, for instance, jointly owned houses, land, bank deposits or anything with provision for a successor or beneficiary. Assets below a state specified value are also exempt from probate. This limit differs from state to state.
The court will charge fees for the administration of probate. The actual fees will depend on the volume of work to be done. In general, the fees come to around 5% of the appraised value of the total properties.
The probate law centers around the following aspects: Once the probate case is admitted, decedent's property is inventoried. Any debts and taxes are paid. The remaining property is disbursed to the decedent's heirs and beneficiaries, either as instructed in the will, or according to the intestacy laws of the state.
The laws make the probate a straight forward process so that the property reaches the right people.
Probate provides detailed information about probate, how to avoid probate, probate court, probate law and more. Probate is the sister site of Free Last Will And Testament Packages.
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