Probate is the system in which the method of the judicial system to process the assets of a deceased person. It is a legal document that enables the administration of the deceased’s assets. Allows the resolution of claims and distribution of the will of the deceased. Any claim related to a deceased person’s estate is filed in probate court, also known as surrogate court. Once probated, the will becomes a legal instrument that can be executed by the executor.
Process management
On the other hand, the process of administration of an estate is the process by which the assets of the deceased person are collected, maintained and distributed. An estate administrator is in charge of the proper administration of the will.
The succession process
The probate process begins after the death of a person. An interested person files an application to administer the estate; A trustee is then appointed who will administer the estate and may sometimes be required to post a bond to safeguard and secure the estate. Creditors are notified and legal notices are published. A petition to appoint a personal representative may be filed and letters of administration may need to be obtained. All these processes must be carried out in accordance with the limitation clause.
Property that prevents succession
Property that passes to another person contractually on a person’s death does not enter into probate, for example, joint ownership with rights of survivorship. Property held in a revocable or irrevocable trust that was created while the grantor was still alive is also not included in the probate. In most of these cases, the property is distributed privately and without much trouble, so no legal action is required.
What happens in the probate and administrative process?
After a probate case has been filed in court, an inventory is entered and the decedent’s property is collected. Debts and taxes are paid first, and then the remaining property is distributed to the beneficiaries. The succession and administrative process may be challenged at any time in whole or in part. Issues that arise during such hearings include will disputes and paternity issues and these have to be resolved before the matter is decided.
The need to appoint an administrator arises when the deceased did not leave a will, some assets are not disposed of by the will, however, in cases where there is a will, the case goes directly to the succession. Estate administrators act as executors of the will, but when the will does not state how to distribute property, they follow established laws.
