Probate is the process of dealing with and administering someone’s estate, property, and money. After paying the debts and taxes, it involves organizing the money, possessions, and assets and distributing or dividing them as an inheritance. If you have left a will, it will name someone you have chosen to administer your estate. This process is known as Will, and the person is known as the executor of the Will.
The probate process gets more manageable if you have a will or living trust that defines your wishes. Contact Boca Raton Probate Attorney today and discuss your probate planning.
What is probate?
In simple terms, probate is a legal procedure that your estate and properties go through when you pass away. The court will start distributing your assets and properties when probate begins. It is essential to understand that your properties will go through probate, and planning for it earlier makes it simpler.
In cases where no will is present, the process obviously becomes more complicated because no documentation is present to state your final wishes. It becomes the court’s responsibility to handle proceedings and make decisions.
By creating Trust, you can lessen the burden and headache of probate. Any assets placed in trust will bypass probate easily.
Grant of a probate
A Grant of probate is a legal document that gives the executor the authority to deal with the deceased’s property. Probate ends when the taxes and debts are paid, and all inheritance is passed on.
How long does probate take?
Probate usually takes about a year for most estates. The exact time depends upon the size and complexity of the deceased’s estate. On the other hand, international probate takes around six months to two years because it is more complicated than regular probate.
Other factors include disputes that can arise during the probate process between beneficiaries, tax authorities, and creditors. These disputes often delay the probate process.
What will happen if there is no will?
You will not get a Grant of Probate if there is no will present. You can still distribute the inheritance and administer the estate through a slightly different process.
The intestacy rules explain who can apply to administer the Grant of Administration for the estate. According to the rules of intestacy, when there is no will, the administrator distributes the inheritance. Only the deceased’s spouse, partners, civil partners, children, and other family members can inherit these rules.
