- Probate proceedings occur where the deceased resided. When property is owned out-of-state, a supplemental probate proceeding (ancillary probate) occurs in the state the property is located.
- Costs for probate proceedings are typically equivalent to 3 to 7 percent of the estate's value. In addition, estate taxes may have to be paid on the estate.
- The probate process usually takes at least six months to complete. However, the process can be much longer if the person died without a will.
- Upon death, the probate court will review a will (if one is present) and do a full review of the assets and debt. After all creditors are paid, named beneficiaries take the remaining estate. If no will is present, the court will determine who takes the estate.
- It is important to seek an estate planning attorney to draft a will. Having a will makes the probate process much easier for named beneficiaries upon the person's death.
