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February 2013 Archives

Probate Law, Wills, Trusts and Estate Planning

What is Probate Law?

After someone passes away, ownership or at least the legal title of ownership of their property, their personal affects, and other assets will be passed on to the beneficiaries named in the decedents will. If no will has been filed, then then laws of the state in which they passed away will decide who receives said assets. This is what is known as probate.

Probate courts can settle a large variety of issues including the validity of the will itself. The process begins with a petition to open the estate and name a representative f the estate and its property. After this, creditors are given a certain amount of time to file their claim, the representative will then pay the debt and distribute the estate and which point the estate can be closed.

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