When a decedent does not have a living trust, and assets pass by Will, or by state intestacy laws, a court probate administration will be required. We can assist with the court proceedings, which include inventorying assets, dealing with creditors, preparing accountings, and distributing the assets pursuant to court order.
What is Probate?
Probate is a court supervised process which includes collecting and valuing a decedent’s assets, paying the decedent’s debts and taxes, and distributing the assets to the beneficiaries of the decedent’s estate. As part of this process, a notice of death is published in a newspaper in order to allow creditors to make claims against the estate. Probate proceedings are open to the public and anyone can review the court file and examine the details of the decedent’s financial life. Probate is expensive, with fees set by state law. Probate is also a lengthy process that normally takes a year to complete but can take longer for a complicated estate.