Probate

Introduction

Probate

Trust Administration

Administration Services

Probate is required whenever a person dies owning assets in his or her name, regardless of whether the decedent had a valid will.

Probate is the legal process by which a decedent's assets are distributed to heirs according to the terms of the decedent's Last Will, and state statutes.

If a decedent had a will, it must be filed with the Probate Court, and typically, only assets titled in the decedent's name are probated. Assets titled in the name of a trust, jointly held assets, or accounts naming a beneficiary, are not probated.

It is a common misconception that assets are probated only if they are part of a taxable estate. In fact, all assets titled solely in the name of the decedent are probated if there is no designated beneficiary on an account or policy, regardless of whether the estate is taxable.

The probate process involves the following:

* proving that the deceased person's Will is valid;

* hearing any objections to the Will;

* identifying and listing the deceased person's property;

* appraising the property;

* paying any outstanding debts and taxes that are owed; and

* distributing the remaining property according to the deceased person's Will.

In Maryland and Washington, D.C., if a person dies without a Will, the same process occurs except that the probate court appoints a person to handle any claims against the estate, pay creditors and then distribute any remaining property in accordance to state laws, which may be very different from your wishes. Your executor is the person who finds, secures, and manages your assets during the probate process, which can take anywhere from a few months to a year.

Depending on the contents of your Will and on the amount of debt you owe, your executor may have to sell your property. For example, if you owe many debts, your executor might sell some of your property to pay the debts. Or, if your Will makes a number of cash bequests to beneficiaries and your estate consists of non-cash property, your executor might sell your non-cash property to produce cash to be given to your beneficiaries.

When drafting your Will and estate plan, it is important to seek legal advice and guidance to ensure your wishes are carried out.

At Kinsey Law Group, we approach probate in a manner that minimizes headaches, transfers assets as quickly as possible, ensures the right choices are made every step of the way and all legal requirements are satisfied within the legal deadlines.

To learn more about how we can help you, please feel free to explore this website and our blog. Use the "Contact Us" link above to send us any questions you may have or to make an appointment.