Many people believe that once they've passed on, their loved ones will immediately inherit their assets according to their wishes. However, there is actually a long and complex legal process involved, which is known as probate. Probate is a legal process in which the executor of the estate must inventory the estate and legally distribute the assets. As Lance S. Cox Attorney at Law in Cincinnati explains, probate ensures that the will is valid and that all of the beneficiaries possess the legal right to the property they've inherited.

Guiding the estate of a family member through probate can take up to a year, requiring the executor to fulfill several important responsibilities, including:

• Officially notifying all beneficiaries and creditors.
• Locating and securing assets.
• Deciding how to produce cash and pay debts.
• Fulfilling the contents of the will.

These tasks often require several appearances in court and considerable effort if assets need to be liquidated to pay taxes and other debts. An executor may also have to make decisions about the disposition of the property if, for example, the will specifies a cash amount be delivered to an individual or an organization but the estate consists mainly of securities or real estate. Part of the executor's responsibility is deciding whether those assets should be sold to satisfy the terms of the lease or other arrangements can be made.

The probate process can be time-consuming and exhausting, which is why having an attorney to guide you through it can be so valuable. Lance S. Cox Attorney at Law has years of experience with probate and wills, along with a thorough and in-depth understanding of the law. Visit their website to learn more about their expertise and legal services, or call (513) 528-6000 if you've been named as an executor of someone's estate and would like to schedule a consultation.