There are various different ways to get assets into the hands of your loved ones after you pass away. The most commonly utilized estate planning document is the last will. You may assume that the heirs to your estate receive their inheritances right after you die when you use a last will to state your final wishes. Unfortunately, things don t happen very quickly when you use a last will to facilitate the distribution of your personally held assets. Before inheritances can be distributed, the will must be admitted to probate. Lengthy Process If you were to create a last will, you would name an executor. This is the person who would be charged with the estate administration tasks. The administration of the estate would be supervised by the probate court. During probate, the court would examine the will to determine its validity. If any challenges were presented, arguments could be made during probate. Final debts must be paid during probate, and creditors are given some time to come for
Posted on: Thu, 11 Sep 2014 13:47:40 +0000
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