What is Probate, Anyway?
As an estate planning and administration attorney, I use words that people don’t always understand. Probate is a word that we often use and often assume that people understand. But I know that is not true. The dictionary says that probate is the official proving of a will. That provides as many questions as it answers. Probably more questions than answers!
Probate is the legal process that is directed by the state court system to transfer assets from a person who has passed away to another person or entity. The assets and property that a person owns will be included in his or her estate to be transferred to another person. Because this is a state-directed process, each state or district has slightly different processes. The probate process is a court-directed process that is, as one lawyer says, “a lawsuit that you take out against yourself to give the stuff you have to the people you love.” A last will and testament is the document that directs the distribution of the possessions. However, the process is under the oversight of the court.
After a person passes away someone will take his or her ORIGINAL last will and testament to the probate or “orphans” court. The court will assess a filing fee that is based upon the value of the assets that pass through the probate process. Assets that are jointly owned or have a beneficiary designated generally do not pass through the probate process.
The amount of assets determines if it is a small or large/regular estate. The process may vary, depending upon the size of assets that will be included in the process...
