Probate is a complicated legal process that can take time and legal knowledge to get through. It can be beneficial to readers of this New Jersey estate planning blog to discuss their probate questions with attorneys who are familiar with their estate planning needs. This post may be read as information only and should not be relied upon as legal advice.
Probate plays an important role in the administration of a decedent’s estate. When a person passes away, their property must be properly assigned and given to the individuals or entities that are designated to receive it. While some items of property may be jointly owned or owned by a trust, others may be the exclusive property of the decedent and subject to transfer based on the contents of their will. Probate manages the property that is not directly given to a joint owner or trust recipient.
When probate begins, the administrator of the decedent’s estate must perform certain tasks. They may be required to find the decedent’s property and in some cases they may have to pay off some of the debts of the decedent. During probate, disputes over the distribution of a decedent’s estate may be handled and the transfer of property to beneficiaries occurs.
Although probate may be a necessary component of some estate administrations, not everyone wants their estate to undergo the process. Probate can take time and can cost money, and therefore some individuals look for ways to prevent probate from controlling their estates. Achieving this and other estate planning goals can be complex, and readers should talk to their attorneys about their probate-related inquiries.