Probate involves locating a decedent’s assets, determining its value, paying the dues through the estate funds, and distributing the remaining property among the rightful beneficiaries. The procedure might seem easy and effortless, but in reality, it is both complex and time-taking. Although, when you avail of the assistance of the probate paralegals, handling the processes becomes convenient. Many of you have several queries inside your mind concerning probate. And here, we will be answering the four most common questions.
Is it necessary to file probate when there is a will?
According to state law, only a living trust can help avoid probate. As you all aware of the fact, filing probate is a considerably substantial investment. However, a will can minimize the expenses of probate. In the last will, an individual usually mentions the name of the executor who is liable to administer the property following the will holder’s death.
How will the probate process take place if there is no will?
If a person passes away with no will, the property allocation occurs in accordance with the California Probate Code. The court will bestow the responsibility of managing the assets of the decedent on an executor. And the appointed person will determine the property\’s worth, collect the assets, guard them till the accomplishment of the case, handle legal disputes, clear the dues and taxes from the estate fund, etc. Since he is in charge of the property, he possesses the right to distribute the remaining assets.
What are the duties of the executor?
If you have read the right-up this far, you are probably aware of the primary duties of an executor. However, his responsibilities are not limited there. He has a lot more errands to run. Like, he is liable for preparing the inventory of the deceased person\’s assets. As you read above, the executor has to pay the dues from the estate funds. If the debts are high, the appointed person-in-charge can sell or liquidate the assets to clear them before the distribution.
How long does probate take to be accomplished?
Probate is quite a lengthy process. However, the duration partially relies on the assets and debts. Additionally, the time might vary depending on the presence or absence of a will. The process can be executed fast if the beneficiaries are located quickly. For a better estimation, make sure to discuss the matter with the probate paralegals.
If you still have any doubt or query regarding the probate process, feel free to contact our experts.