Probate Overview: A Beginner’s Guide to Estate Settlement

Probate Overiew NJ

Losing a loved one is undoubtedly one of the most challenging experiences in life. Amidst the emotional upheaval, there often comes a time when legal matters must be addressed. This is where the probate process steps in. As an essential aspect of estate administration, the probate process can appear complex and daunting. However, with the guidance of an experienced estate planning attorney, you can navigate this journey with clarity and confidence.

Probate is a legal process that occurs after someone passes away. It is a court-supervised procedure that ensures the orderly transfer of ownership of property and assets to their beneficiaries or heirs according to their will or applicable laws if there is no will. The goal of probate is to ensure that the decedent’s final wishes are respected, and that their property is distributed fairly and according to the law.

If the deceased person (also known as the “decedent”) had a will, it is submitted to the court for validation. This typically involves proving that the will is genuine and meets legal requirements. The court appoints an executor if one is named in the will. The executor is responsible for overseeing the probate process, managing the decedent’s assets, paying debts, and distributing property to beneficiaries. The executor creates an inventory of the decedent’s assets, which can include real estate, bank accounts, investments, personal belongings, and more.

Creditors are notified of the decedent’s passing, giving them the opportunity to file claims for any outstanding debts owed by the estate. The executor uses the estate’s assets to settle any valid debts, including taxes, bills, and administrative expenses. Once debts are handled, the remaining assets are distributed to beneficiaries according to the terms of the will. After all tasks are completed, the executor files a final accounting with the court, providing an overview of the probate process. Once the court approves the accounting, the estate is officially closed.

Contact UBFK Law today to schedule a consultation with our experienced probate and estate administration attorney, Shira Frackt, Esq. Let us handle the legal complexities while providing you with the guidance and support you need during this challenging time.

DISCLAIMER: The contents of this article were created to provide general information, it is not intended to create an attorney-client relationship and shall not be construed as legal advice. You should not act upon any information provided in this article without seeking professional legal counsel from an attorney licensed to practice law in your jurisdiction. No representations are being made as to the completeness or accuracy of the information contained in this article or on this site or sites linked hereto. If this pamphlet is inaccurate or misleading, report same to the Committee on Attorney Advertising, Hughes Justice Complex, CN 037, Trenton, NJ 08625. “No aspect of this advertisement has been approved by the Supreme Court of New Jersey.”
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