It’s normal for someone to have questions about probate. Most will only deal with it once in their life, and it’s not something that is a topic of everyday conversation. Following are some frequently asked questions and answers about probate:
Q: What is probate?
A: Probate is a process that involves submitting a will or estate to the local court for oversight. It is used to prove that a will, if there is one, is valid, making an inventory of the estate of the deceased, paying all outstanding debts and taxes, then distributing the remaining property to heirs.
Q: Does an estate have to go into probate after someone passes?
A: Not necessarily. In most situations, a value threshold of $150,000 that the estate has to meet before it has to go into probate.
Q: Who handles the probate?
A: Usually the person who is named as executor in the will. This person oversees the settling of the estate, and the court makes sure that the job is being done correctly. If there is no executor, the court appoints one to do the job.
Are you in the Upland area and in need of estate planning? Contact Gaudy Law today to discuss trusts and wills with a lawyer.
