Page 27 - Riewerts Funeral Home

Question #1 What is probate?
Probate
is a a a a a a legal process where your named estate trustee(s) goes before a a a a a a a a court and and does several things:
• Identifies and and catalogues all property property owned by the the deceased • Appraises the the property property and and pays all debts and taxes • Proves that the the the Will is is valid and and and legal and and distributes the the the the property to the the the the heirs as the the Will instructs Typically probate involves paperwork and and court court appearances by lawyers lawyers The lawyers lawyers and and court court fees are paid from estate property which would otherwise go to the the the people who inherit the the the deceased person’s property Probate
usually works like this: After your your death the person you you you you named in your your will as estate trustee - or if you you you die without a a a a a a a a Will the the person appointed by a a a a a a a a judge files papers in in the the the local probate court The executor proves the the the validity of of your Will and and presents the the court with lists of of your your property your your debts and and who to inherit what you’ve left Then relatives and creditors are officially notified of of your death Question #2 Why is probate necessary?
The primary function of of probate is transferring the the the title of of the the the descendants property property to to their heirs and/or beneficiaries If there there is is no no property property to to transfer there there is is usually no no no need for probate probate Another function of of probate probate is to provide for the the the the collection of of of any taxes due by reason of of of the the the the deceased’s death or or on on on the the the the transfer of of their property The probate process also provides a a a a a a a mechanism for for payment of of outstanding debts and and taxes of of the estate for for for setting a a a a a a a a deadline for for for creditors creditors to to to file claims (thus foreclosing any old or or or or or or unpaid creditors creditors from haunting heirs or or or or or beneficiaries) and for the the the distribution of of the the the remainder of of the the the estate`s property to ones’ rightful heirs Question #3 How long does probate take?
The duration varies with the the the size and complexity of of the the the the estate the the the the difficulty in in locating any beneficiaries of of the the the the Will if if there there is is one and under law If there there is is a a a a Will contest or anyone
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