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Steps of the Probate Process

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In case you are involved in the process of settling an estate, you will be subjected through a divorce process, which can be stressful and complicated. Probate is the legal process that people go through to determine how a deceased's assets will be shared. The most common way through which people go through the probate process is by appointing an executor. In a situation where the deceased did not leave a will, then the state will be responsible for deciding the rules of inheritance. Probate law usually varies from one state to another, but there are certain steps that you have to follow regardless of your state. In this article, you will find out some of the steps of the probate process.

The first step of the probate process is filing a petition. In the paperwork, you will request the probate court to acknowledge you as the legal executor representing the estate. Apart from the petition, you will also be required to file a valid will, and in case it doesn’t exist, you will be required to issue the death certificate. After filing both the will and petition, the court will set a date for hearing if you should be the executor of the estate. The next step is issuing a notice that the estate left by the deceased is in probate to all the creditors, beneficiaries, and heirs.

The next step of the Will litigation process is listing all the assets that are subjected to the probate process. Some of the assets that you can mention include real estate, bank accounts, retirement accounts, and stocks, among others. Once you create an inventory of the assets, you will be required to handle bills and debts. Collect money owed to the estate and review all the outstanding bills and debts to establish whether they should be paid. Besides, you will be required to pay the applicable taxes based on your state.

After clearing all the debts and bills, the next step is distributing the remaining assets. The remaining assets should be transferred to the rightful heirs or beneficiaries as directed by the will. The final step is closing the estate. After distributing all the remaining assets, you will be required to submit records and receipts to the court and request for the estate to be closed. No doubt, probate is a complicated process that requires legal assistance. It, therefore, explains the need to hire a probate attorney to offer the guidance that you need to go through the process successfully. Check out this post for more detailed information: https://www.reference.com/world-view/lawyer-lawyers-61cc688000192fc0?ad=dirN&qo=serpIndex&o=740005.