When a family member or other loved one passes, administering their estate, whether they passed with or without a Last Will & Testament or Trust in place, can be complicated and time-consuming.
Probate refers to the legal procedure for the orderly distribution of property in a person’s estate. The executor files the will in probate court, where a judge decides if the will is valid. If it is found to be valid, assets are distributed according to the will. If the will is found to be invalid, assets are distributed in accordance with state laws. Responsibilities usually undertaken by an executor include: Paying valid creditors Paying taxes Notifying Social Security and other agencies and companies of the death Canceling credit cards, magazine subscriptions, etc. Distributing assets according to the will