Summary Of The Probate Process

Summary Of The Probate Process

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The majority of states in the Union follow a standard probate process, as the federal probate guidelines are stipulated in the United States Code, Section 25.

Here is a summary of the probate process:

The executor will be responsible for performing the affairs during the entire probate process. The executor should have been selected by the grantor. The executor files the grantors death certificate; the death certificate should be authorized by a healthcare professional. The probate judge shall acknowledge the executor to act in behalf of the grantor after its passing.

After the judge acknowledges the executor, then he or she can proceed to the official probate procedure, as follows:

First, the executor collects the assets that are subjected to the probate procedure. The executor should have these assets appraised, followed by an inventory. Examples of these assets are: life insurance policy, retirement account, loan, paycheck, and others that are similar in nature. Once completed, the executor furnishes a copy of the final inventory to the probate judge.

Second, the executor pays the debts and obligations of the grantor. All of the creditors names and addresses should be identified. A portion of the assets should also cover the expenses of the grantors dependents (spouse and children).

Third, the executor requests the probate court to transfer the property of the grantor; this is based on the will of the grantor.

The probate process is a lengthy one; the state probate law permits the benefactors of the will to file objections on the instructions stated in the will. The majority of state probate laws give explicit and specific details on how objections on the will should be filed.

Summing up, the majority of the states have outlined a systematic probate process. The process entails appointing an executor to manage the grantors assets. The process should be systematically followed by the executor so that the grantors estate is properly distributed to the correct beneficiaries.

About the Author:
The information in this article is not intended nor should be considered legal advice. For further information on Florida Probate Law contact an experienced attorney.

Disclaimer: The information presented in this document is merely intended for educating the reader; for further information, contact an attorney who specializes in Probate Law.



Article Originally Published On: http://www.articlesnatch.com


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