How to Deal With Probate

Probate is the term meaning the administration of a deceased person's affairs. Probate laws are designed to ensure that the deceased's creditors get paid, that property and assets are properly distributed to heirs and that any disputes arising out of the estate are resolved. The following tips provide an overview of the procedures involved when dealing with probate.

Difficulty: Moderately Challenging

Instructions

1. File a petition to open the estate. Probate begins with a petition, or request, to open the estate to appoint a personal representative to handle the affairs of the estate. A personal representative can be a family member, friend, corporate entity or financial institution. The personal representative has a legal obligation to administer the deceased's estate in compliance with the law.

2. Publish a legal notice regarding the opening of the probate estate and the appointment of the personal representative. The purpose of this notice is to give creditors a deadline by which they must file claims against the estate.

3. Collect and inventory the deceased's assets and belongings. The inventory list must be filed with the probate court.

4. Handle any claims made against the estate. Dealing with probate requires paying the deceased's debts out of the assets of the estate and, if any claims are disputed, participating in hearings before a probate judge to determine the validity of the debt and the amount to be paid.

5. Prepare and file a final report. This report should list all assets, claims and any expenses paid. It should also propose a way of distributing any remaining assets to the heirs of the estate.

6. Distribute the remaining assets accordingly. Obtain receipts from the heirs following distribution and file with the probate court.

Tips & Warnings

• You should consult with an experienced probate attorney or tax consultant if you have any questions about dealing with probate.
• If the value of the deceased's property is under a certain amount, a simplified and quicker probate process than that described above may be available. Research the laws of your state to determine if this option is available to you.

Who Can Help Sponsored

[dreamteller]

on 9/26/2009 Concise and helpful tips, thank you. 5 stars.

[MiaBellezza]

on 12/18/2008 Here's a good link on probate procedures -

http://www.squidoo.com/executor