When a loved one dies, it’s difficult enough to cope without worrying about the division of assets, paying off the decedent’s debts, and dividing his or her property among the family. After you’ve said your final goodbyes, you’ll likely want to move through the process of dividing the assets between the family and paying off all outstanding debts immediately. You may think that because a will exists, you can accomplish this on your own. Unfortunately, this isn’t accurate. First, you must go through the probate process. Yes, even with a will.

What is Probate?

Probate is the process of transferring the assets of the decedent to his or her heirs upon the decedent’s death. The process is started by a personal representative (often referred to in other states as the executor). Once the representative is officially appointed by the probate court, some of the various tasks he or she is required to perform include:

Posting a public notice to all the decedent’s creditors for 3 weeks in a local newspaper
Preparing an exhaustive list of all of the decedent’s assets to be filed with the court
Paying off all creditors over a period of four (4) months
Paying all final property and income taxes
Preparing a final accounting record for the court (including a listing of all the assets of the estate, income received and expenses accrued throughout the probate process, all payments to creditors, and a projected accounting of distributions to beneficiaries)

Once the court approves the record, the representative may pay the beneficiaries and probate is closed.

What if the Decedent has a Will?

If the decedent has a will, the probate process is identical with two exceptions.

First, the decedent is able to choose their own personal representative instead of the person whom the court would choose from the statutory order of preference.

Second, the decedent can leave his or her estate to beneficiaries other than those outlined in the state’s intestate succession laws.

How Can A Probate Attorney Help?

When you or a loved one are faced with taking an estate through probate, a probate attorney can make the process much less stressful. Wy’East Law can help with filing documents with the probate court, maintaining a record of all expenses, assets, and income, and guaranteeing that all requirements of probate are met before an estate is divided among heirs. This can avoid later issues with taxes or lawsuits from creditors.

Want to learn more? Call us today at (503) 354-6402.