When you begin to look into the topic of estate planning in earnest you hear mention of something called “probate.” Though this term is extremely common in the field of estate planning, the reality is that the layperson truly has no reason to understand what it is all about. So by way of definition, probate is the legal process that your estate must pass through before your heirs will receive their inheritances. The surrogate court in the jurisdiction that is local to you examines the will to determine its validity and supervises the administration of the estate.
When you are drawing up your last will you will want to a appoint an executor. This individual will actually take care of the hands-on tasks that are necessary to make sure that your wishes are carried out, and this will of course be done under the watchful eye of the probate court. So when the will is originally being created it should be done with the requirements of the local probate or surrogate court in mind. This is why it is usually not going to be a good idea to try to draw up your own will using one of those generic fill-in-the-blanks templates that you see marketed on the Internet.
An experienced estate planning attorney understands the probate process thoroughly, and he or she is going to provide you with an ironclad document that will stand up to will challenges. And at the same time, the vehcile will facilitate a smooth, efficient, and cost effective transfer of assets to your loved ones. The ideal scenario would be for the attorney who drew up the will to subsequently act as the probate counsel to guide the executor as he or she engages in all of the tasks that must be undertaken to make sure that your wishes are carried out to the letter.
- Medicaid Attorneys Explain How a Pre-Paid Funeral Contract Can Help - March 31, 2021
- What Is a QTIP Trust? - March 25, 2021
- How Would You Feel about a Robot Caregiver in the Future? - March 18, 2021