Estate Planning | 3 Things Every Individual Should Know About Probate
Estate Planning | Probate is the process of administering a person’s estate after they have died. The laws guiding this process change from State to State. When a person dies, their estate is administered in the state where the decedent lived. A probate attorney in that state can provide you with the specific administration requirements under that state’s laws. However, the following is some general information regarding the probate process and the estate planning.
What exactly is a Probate?
Probate is a process that ensures that the estate, property, money, and belongings of a deceased person are distributed according to either his or her will. Alternatively, if there is no will, each state has laws regarding how an estate will be administered if it is intestate (just a fancy word for “no will”). In Florida, the person appointed to administer an estate is called the Personal Representative. The Personal Representative can be someone appointed by the deceased’s will or who is an interested party appointed by the Court. Some types of probate administration in Florida require an attorney to represent the Personal Representative.
What is the Role of Court?
A Probate court has some duties that it fulfills. A Court may verify that the deceased person’s will is valid. Then, the court appoints a person who is responsible for identifying and collecting the assets of the deceased, addressing debts, and distributing the remaining