Tuesday, January 19, 2010

What is Probate, anyway?

In a nutshell, the probate process is a court proceeding that establishes the validity of a will and provides oversight to ensure accuracy in accounting for a decedent’s assets, fairness in the treatment of heirs, and protection for the rights of the decedent’s creditors. The process begins with the presentation of the will and can take six to twelve months or more. The time depends on the complexity of the estate and whether there are any challenges to the will. If the assets are simple with no tax or other complexities with an executor who is a state resident a lawyer may not be needed. Many people find the process mystifying and time-consuming and do require attorney involvement

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