probate

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probate

(prō`bāt), in law, the certification by a court that a willwill,
in law, document expressing the wishes of a person (known as a testator) concerning the disposition of her property after her death. If a person dies intestate, i.e.
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 is valid. Probate, which is governed by various statutes in the several states of the United States, is required before the will can take effect. The procedure requires that notification of a hearing be given to all persons who may possibly inherit the deceased's property. Lost wills and oral wills may also be probated in some states if proof of due execution is furnished. If the will is certified, the court will issue letters testamentary authorizing the executorsexecutors and administrators.
An executor is the person designated in the will of a deceased person to carry out the provisions of the will. An administrator is the person appointed by a probate court to perform the identical functions if the will does not name any executors or
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 to carry out the will's provisions. The judge sitting on a probate court is ordinarily called a surrogate.

probate

1. the act or process of officially proving the authenticity and validity of a will
2. 
a. the official certificate stating a will to be genuine and conferring on the executors power to administer the estate
b. the probate copy of a will
3. (in the US) all matters within the jurisdiction of a probate court
References in periodicals archive ?
California allows surviving husbands and wives to inherit their share of the couple's community property outside of the probate process by filing a spousal property petition.
The probate process is one area which we can get involved in with, considering all options available, not just the obvious ones.
(52) The Supreme Court of Nevada rejected their argument, citing the important function of non-claim statutes in the probate process. (53) The court explained that non-claim statutes promoted the "expeditious and comparatively unencumbered means of accomplishing estate administration." (54) Ultimately, the Supreme Court of Nevada held that notice by publication in the non-claim context was "reasonably and sufficiently calculated to provide actual notice to [the creditor]." (55) When the case was appealed to the U.S.
The primary purpose of transferring your assets into a revocable trust is to avoid the expense, time and publicity of the probate process. (Additional requirements may be necessary, depending on the corporate formalities of the entity in which the interest is being transferred.) All assets owned in one's own name at death, including any shares of stock or limited liability company interest owned individually will go through some form of probate process.
When I inquire from clients that have taken an estate through the probate process, most would suggest they would like to have their loved ones avoid that necessity if they could, mostly because the process is arduous, time consuming and costly.
The empty homes figure includes, among others, people going through the probate process, something anyone who has been through will tell you can take much longer than six months!
Joint accounts with survivorship features (JTROS) and POD accounts pass as non-probate assets, thereby avoiding the state-mandated probate process. The probate process generally takes six months, but in exceptional cases may take longer.
He explains the role of the personal representative or trustee and their selection, the probate process, trusts and types, understanding the grief process, involving professionals, preparing for a death and afterward, administering the estate or trust, tax considerations and filing requirements, trust investing, and terminating a trustee's responsibilities.
Banks are duty bound to protect the assets of the deceased and freeze their cash until the Probate process is complete - which can take up to a year.
These conflicts, together with the generally slow probate process, can easily result in a DELAY of 1 to 2 years or more (3)
This legal arrangement allows the client to transfer assets to beneficiaries without having to endure the probate process, which can be expensive and tie up an estate for months and even years after death.
You and your clients can avoid the publicity of the probate process by doing some smart planning while you are alive.