Some seniors may mention probate but have no idea what it means. Luckily, there are some easy explanations, and by the end of this blog, you will hopefully understand it more. Simply put, this is a law that means when someone is deceased, there is a process that allows assets to be divided among the family. However, if a will is set in place before anyone dies, the assets will be divided according to that.
Some seniors may not have a Will set in place, and others will. If there is no Will for lawyers, court, and family to follow, the state law will decide how certain assets are split up and distributed. You may think this sounds like an easy process, but the truth is Probate Law can be complex, and things can be challenging for a family when there is no Will set up. No matter what happens, after your elderly loved one dies, you will need to ensure you have good family lawyers who can help navigate the Probate Law or help ensure the Will is followed.
Understanding the Probate Law Process
Probate is not something that is done quickly. In fact, without a Will, the probate process is a challenge and can be a long process for the entire family. If you want to skip this messiness, setting up a Will before you pass away is crucial. This will help your family navigate the family loss with much less stress.
Everything has to go through the Probate courts, which may not be quick. There will be a schedule that the court follows. It can take a few years for the court to administer an estate. Without a Will, this process can take three times longer for a family to acquire any assets. Keep in mind that each state will have its process and timeline.
If your loved one owes money on a property, the probate court will help determine how to get everything paid for, any claims, expenses, and much more. Sometimes, for an elderly person, these things can be too stressful to sit down and figure out, especially if they have never worked with a lawyer.
One of the most helpful things your loved one can do before they die is work with a lawyer who can guide them through the whole process. If your senior mom or dad has already passed on and the property is going to Probate Court, don’t panic. You have time to find a lawyer who can help you navigate the process and discuss outcomes with the rest of your family. A lawyer may also help you if there is a Will and assets not in the Will. A good lawyer will help you go through the Will and what you are entitled to and what you are not.
After the Probate court distributes the assets, a lawyer can help you figure out how to pay off anything or sell what you have received. Everything you do with the assets once they are under your ownership, anything you do with those assets, needs to be legal. It can be hard to know what to do after Probate court.