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Can someone explain probate to me?

Can someone explain probate to me?

Posted: 25 Sep 2014 5:04PM GMT
Classification: Will
I've found quite a lot of my family have gone through probate, but I'm not 100% sure why? I know lots of money was left and there are family members mentioned in the probate listing.

Are these just executors of the will?

I'm new to this, and have no idea about probate.

Thanks for your help.

Re: Can someone explain probate to me?

Posted: 26 Sep 2014 4:36AM GMT
Classification: Query
Probate is the legal process by which a person's net assets are distributed after death. The laws vary by state, but generally the estate of anyone with significant assets would be required to go through probate in order to ensure the assets are distributed properly.

I'm not sure what you mean by "probate listing", but if the decedent had a will, then it would indicate one or more executors, as well as who was to receive what from the estate (the "legatees"). The will would be submitted to the court, which would approve the executor and ultimately the distribution of assets.

If the decedent didn't have a will, then someone would have to petition the court to be named administrator of the estate, and the assets would be distributed according to what the law specifies.

In either case, the executor or administrator has to provide the court with an accounting of the decedent's assets and debts before the final distribution is approved.

Steve

Re: Can someone explain probate to me?

Posted: 23 Oct 2014 2:41PM GMT
Classification: Query
Usually, only one person (an attorney or a family member) serves as executor or administrator, and the names of the people listed are beneficiaries, people who have received something from the estate.
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