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Probate
When a person passes away, their estate is typically admitted to probate. Probate refers to the legal process of admitting the decedent’s will to Probate Court and administering the estate to ensure the decedent’s property is distributed according to the direction of the will and laws of the state. The estate administration is handled by the decedent’s executor who is usually a person named in the decedent’s will for such purpose. The estate administration can be a lengthy and difficult process requiring the executor to handle will contests (disputes by persons challenging distributions made under the will), notifying creditors, gathering and inventorying the estate’s assets, paying the estate’s debts, and ultimately distributing the estate in accordance with the decedent’s final wishes. An executor not only faces the difficulty of figuring out and complying with the laws governing probate and estate administration but potential liability as well. While an estate is being administered, the executor is responsible for managing the assets of the estate as a fiduciary for the benefit of any creditors and beneficiaries under the will. Given the issues and potential liability an executor may face, it is strongly recommended that legal counsel be retained. Legal counsel can greatly assist an executor with probate and estate administration. The executor will save considerable time and anxiety by consulting with experienced counsel to efficiently and effectively administer a loved one’s estate. |
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