If you are planning your will, then it can help to understand what happens after you pass away. The executor of the estate is responsible for following your last wishes during probate. Probate is a process that happens after you pass away, which gives your executor time to distribute your assets accordingly.
Probate begins once your will is submitted to probate court. The probate court will review your will and assets and determine how to proceed with asset distribution – if there are any assets to distribute. Probate can last for several months to over a year. The time it takes for probate to end often depends on the size and complexity of an estate. Here is what you should know:
What does an executor do during probate?
The executor works with the probate court to help ensure an estate is handled according to state laws and your last wishes. The executor has several duties to fulfill during probate, such as locating assets, contacting beneficiaries, paying taxes and debts and distributing assets. The amount of time the executor needs to settle an estate often depends on their capability and ability to perform their duties.
What if there is no will?
If there is no will, you will have died “intestate,” which means the state is typically responsible for settling an estate. As a result, the probate process includes appointing an administrator who is responsible for locating your legal heirs. Your legal heir can include your spouse, children, siblings, parents or any distant relative. Intestate is often not favorable because it can be costly and may not follow your last wishes.
Can you avoid probate?
Probate can take a long time, especially for complex estates. If you want to avoid probate and speed up the distribution process, you have several options. If you have no assets, probate is often skipped. To do this, you may have your assets transferred to a living will upon your passing. Smaller estates may also bypass probate. Legal guidance can help you explore your estate planning options.