What is Probate?
Probate is the process in which a probate court assumes jurisdiction over a decedent’s probate assets. A probate attorney oversees valuing the probate estate, identifying creditors, paying valid claims, and distributing the remainder of the probate assets among the beneficiaries or heirs.
There are two main types of probate administration: Formal Administration and Summary Administration. Which type of administration required is largely determined by the decedent’s probate assets and creditors; it is not determined by whether the decedent had a valid Last Will and Testament.
After the initial pleadings to open a probate are filed with the court, the process will take a minimum of six months and usually more than twelve months. Avoiding this very costly and cumbersome process is a great motivation to establish and maintain a proper estate plan.
