Ensuring a Smooth Probate for Your Loved One’s Estate
Probate is the court supervised process that takes place when someone passes away. Probate may be required even if the person who died had a will. If there was a will, the person appointed to carry out the deceased’s wishes is called the executor or executrix. If there was not a will, a person can petition the court to be appointed as the administrator of the estate. Whether someone is the executor or the administrator, they have certain obligations that must be followed.
When is probate required?
If the decedent’s estate is worth over a specified amount or if there is real estate owned by the decedent’s estate, probate will likely be required. The estate consists of assets that belonged to the decedent alone and that did not have any designation of where that asset was to pass upon the decedent’s death, such as a beneficiary designation on a life insurance policy.
What if someone is asking for letters of office or letters of administration?
If you are being asked for any kind of letters, chances are that probate may be required to take action on the account or asset that you are trying to dispose of or transfer.