The Advantages And Disadvantages Of Probate

Probate is a proceeding that consists in managing the property of the deceased legally

. The will is the main legal document to decide how the property of the deceased will be distributed. During probate, a court is in charge of the transfer of the estate of the deceased to his or her heirs.

When someone dies the will's executor or a person appointed by the court-the administrator-has to do the paperwork in the Probate Court. The executor of the will has to prove its validity before the Probate Court. At the same time, the executor must present the Court the record of the goods and the debts and name the existent heirs. This is a long process that can take up to a year, because the executor has to find all the assets and decide whether or not to keep them, depending on the instructions in the will and the existent debts. For instance, if you have many debts the executor might have to sell some of the property in order to pay them.

Probate may prove to be a complicated process and many legal problems can occur. It involves costs and taxes and it can take up a lengthy period of time. Sometimes, a third party can contest the will or the personal representative. When there are conflicts among heirs and other people who claim a part of the property a probate lawyer is appointed. The latter's main responsibility is to interpret the will correctly and to strictly follow the desires of the deceased. He can also advise whether or not you should choose probate to manage the property.

Because the whole process is rather complicated some people seek to avoid probate by executing a living trust. Another way to bypass probate is joint ownership, when two or more parties hold a property together. These procedures may help to avoid the time loss, the costs and the complications of the probate process.

Despite the disadvantages, probate is a safe legal process capable of ensuring that the wishes of the deceased are honored. In the case of a large estate, it may be the only right solution for administering the property. During the emotional time of bereavement, probate may help alleviate the sadness.

by: Christopher Smith

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