Whether someone dies with or without a Last Will and Testament, their estate will go through the probate procedures.
1. Validating the Will: the Court will determine whether the deceased person’s Will was true, actually the last one created, and legally valid.
2. Appointing a Personal Representative: The Court will next appoint a Personal Representative to manage the Estate.
3. Inventory: The Personal Representative will inventory all of the deceased person’s assets and report this amount to the Court.
4. Paying Debts: The Personal Representative will use the Estate assets to pay any outstanding debts or taxes owed.
5. Transferring Property: Land and Buildings cannot be held by a deceased person. The Personal Representative will need to acquire the highest obtainable value and transfer the property out of the Estate.
6. Distributing Assets: The Personal Representative will distribute the remaining assets to the beneficiaries.
7. Final Estate Account: The Court will need to see all the activities undertaken during the administration of the Estate, down to every single cent spent, transferred, or distributed.
8. Petition the Court: The Personal Representative will petition the Court to accept all their actions as true and proper, and will ask the Court to relieve them of their duties in the Estate.
At Carlin Law, we can help you avoid probate delays and expenses.