Creating a will is perhaps the easiest way to ensure that your assets are passed on without a problem. However, most people don’t have a will when they die, making it more difficult to pass on assets. There is a legal process called probate that any estate goes through when the estateholder dies. Here is what to expect if someone dies and has no will.
Probate Court When There is No Will
When a person dies with certain assets, the estate is required to go through probate court. In probate court, the court will:
- Catalog and assess the value of the estate
- Identify all of the debts that the estate owes
- Identify who the beneficiaries should be by law and their whereabouts
- Distribute the assets accordingly
Just because the estate owner died and had no will doesn’t mean the estate has to go to probate court. You only have to go to probate court if the estate includes real estate or more than $70,000 in personal property.
A Personal Representative Takes Control of the Estate
While in probate court, a personal representative takes control of the estate. The personal representative is responsible for maintaining the estate and filing the needed legal documents to handle the probate process. During this process, the estate must be kept together, meaning parts of it cannot be sold or transferred out of the estate until the court approves the final disbandment of assets.
Any Disputes Are Handled Through Probate
If there is a dispute regarding the estate, then it is handled in probate court. Possible disputes can be things like:
- Claims of debts owed to other parties
- Disagreements about who should inherit which assets
- Disputes about who is in charge of the estate
- Disagreements about the existence of a will and what it contains
Disputes are handled in front of the judge, who can adjudicate the situation. In cases of owed debts, these are paid through the estate as a part of the probate process.
When Does Probate End?
Probate ends when a judge can resolve all of the possible problems with an estate. Probate commonly lasts until:
- All of the beneficiaries can be located
- All of the debts in the estate are handled
- Assets can be processed and passed to the new owners
Once a judge can resolve all of the issues, the estate can be processed, and the assets can be released to their new owners. Then, the estate is dissolved legally, and probate ends. This process can be very short or take several years, depending on the complexity of the estate and the value of the assets.
Discuss Your Case With an Estate Planning Attorney
If you want your estate to pass through probate court quickly, then meet with an estate planner as soon as possible. Estate planners know the ways to make passing on assets much easier. Take the time to make sure that your estate is well planned for, including what to do after you pass on. Call James C. Provenza & Associates, P.C. at (847) 729-3939 to schedule a free consultation about how to set up and manage your estate.
