Drafting a will and deciding on how your properties and assets should be handled after death requires plenty of thought and consideration. It’s important to make sure to think ahead and decide on an arrangement for distributing your estate. As much as possible, you want to make sure that loved ones will be well taken care of after you’re gone. It’s also crucial to choose an executor, the one responsible for administrating your estate, that you trust enough to carry out your specific instructions.
With the details polished and a will prepared, the probate process will go on smoothly. Basically, the probate process involves the establishment of the validity of the will. Your appointed executor will have to wait until its content is checked and validated before administrating all instructions made.
The probate process starts with the filing of the will to the local probate court. After your death, the executor will have to file the necessary papers. Aside from the will, supplementary documents should be included in this step. These documents should help prove the validity of the will. An executor will also typically have to provide a full list of your estate, including details about your properties, assets and debts.
Afterwards, the court will officially approve the will and formally appoint the executor to act as an administrator of what you left behind. At this point, the probate process will involve two main stages. First, the executor will have to pay all the debts that you’ve left behind. In some cases, this might mean that the executor will have to sell a few assets and properties in order to make such payments. Next, the executor can finally distribute all the remaining assets and properties to your appointed beneficiaries.
The probate process can be drawn out by certain complications. As such, it would be better to work with experienced lawyers during estate planning. According to probate lawyers in Chicago, will disputes are a common occurrence in American courts. You can avoid future complications for your executor and beneficiaries by making a sound plan.