Probate

During probate an executor (if there is a will) or a court-appointed administrator (if there is not a will) manages and distributes a decedent’s property. This includes collecting the assets of the deceased person, paying any liabilities remaining on the person’s estate, and finally distributing the assets of the estate to beneficiaries named in the will or determined as such by the executor.

Because of the costs of court involvement in the probate process and the potential for involvement of lawyers who collect fees from the estate of the deceased, many people try to minimize costs associated with the probate process. There are tremendous legal and tax complexities in the probate process, so it is advisable to have a will and speak with a lawyer or estate planner in order to insure that your family is not left with the complicated and often messy task of distributing the assets of your estate upon your passing.

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