When someone passes away, their assets must pass through probate, a legal process which settles their debts, resolves inheritance disputes, and ensures their property is legally transferred to their beneficiaries. This process is complex, often requiring months of effort and the calculated assistance of an experienced probate lawyer.

To make the proceedings easier, it helps to understand each phase in advance.

Entering the Will

The first step of any probate case is submitting the will to the court, which will make a decision regarding its validity. If the will is legitimate, the court will notify any creditors and named beneficiaries, as well as the executor. If the will does not name someone, the court will appoint a representative to oversee the estate.

Notifying Financial Institutions

After swearing in, the court will provide the executor with documents giving them the legal authority to act on behalf of the decedent. This includes access to bank accounts, financial records, and other sensitive information needed to settle the estate.

Inventorying the Estate

This step, which may be the lengthiest and most difficult part of the process, involves identifying all of the assets listed in the will to ensure they are still part of the estate. Other valuables which may have been obtained after the will was written may need to be found and appraised.

Paying the Debts

Before any assets can be distributed to their intended beneficiaries, the decedent's debts must be paid. In some states, you may be required to publish a notice of your loved one's death in a local newspaper so additional creditors can come forward and make a claim against assets of the estate.

Distributing the Assets

Only after the debts have been paid can the assets be distributed to beneficiaries named in the will. However, if the value of the estate clearly exceeds the debts, your probate lawyer may identify assets that can be distributed beforehand.

The lawyers at The Law Office of W. Randall Holcomb PLLC in Greensboro, NC, can provide the necessary guidance to navigate this complex process. Visit the website to learn more about their wide range of services, or call (336) 888-8760 for a consultation with a probate lawyer today.