Many people ask, What is probate? and Why should I care about it? In a nutshell, probate is a court process that distributes a person’s estate to others after their passing. Probate proceedings are also used to close out the business affairs of a decedent. This includes paying off a decedent’s final expenses and household bills and settling claims with creditors and others.

If a decedent owned real property in their individual name outside of a trust or other title instrument, probating an estate is necessary to ensure that a future owner has marketable title to the property.

In some cases, probate proceedings may not be necessary. Some examples include bank accounts, retirement accounts, and other financial accounts that designate beneficiaries to whom assets will be transferred upon a person’s death. If a decedent held assets under a certain amount, those assets may be transferred without initiating probate by completing an affidavit of small estate. If assets and property are held in a valid trust, those assets are usually transferred according to the terms of the trust agreement, and probate is not necessary.

We can help you navigate through these tough and often stressful issues. If you are trying to go through this situation alone, give us a call today so we can schedule a legal strategy session to assist you!