
Probate is the process by which legal title of property is transferred from the decedent’s estate to his/her beneficiaries. Since you can't take it with you, the court determines who gets it. If a person dies with a Will ("testate"), the probate court determines if the Will is valid, hears any objections to it, orders that creditors be paid and supervises the process to assure that property remaining is distributed in accordance with the terms and conditions of the Will. If a person dies without a Will ("intestate"), the probate court appoints a person to receive all claims against the estate, pay creditors and then distribute all remaining property in accordance with the laws of the state.
The cost of a probate will is either set by state law or by practice and custom in your community. The typical cost to probate an estate is steep, in the range of 3% to 7% of the total estate value. A major purpose of the revocable living trust is the avoidance of probate. Even with a revocable trust, however, where the trust was not completely funded and assets remain in the decedent’s own name at death, or where a probate is needed for other reasons, such as pursuing a claim or receiving benefits payable only to an “estate,” a court-supervised probate proceeding may be required.
Before opening a formal probate, Morris, Hall & Kinghorn attorneys attempt to determine whether title to non-trust assets can be transferred by alternative means, such as simplified court proceedings for smaller estates and for the transfer of community property, or by petitions to the court outside of the probate process. Where probate is required, our team of legal professionals calls upon its decades of experience in handling such administrations in Probate Court so that the decedent’s assets are transferred to the beneficiaries as efficiently and as quickly as possible.
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