Granville, Ohio
33 W Main St, Ste 101
Newark, OH 43058
(740) 345-9611

4 FAQ About Probate October 18, 2019

Granville, Licking
4 FAQ About Probate, Granville, Ohio

Putting together a comprehensive, viable estate plan is crucial to ensure your assets and belongings are properly distributed after you pass. While you likely know about the role wills and beneficiaries play in this process, you might not have considered something known as probate. The following guide answers some of the most common questions about this process, so you and your lawyer can plan appropriately. 

Questions About Probate Answered

What is probate?

Probate is a process that takes place after a person passes away. During this process, the estate law courts catalog and review all the items in the departed’s will. They will also review the departed’s financial history to determine if any debts or taxes are past due. If they are, the departed’s assets will be used to pay them off. Once this is done, the assets will be distributed among the designated beneficiaries. 

Who is in charge of handling the proceedings? 

lawyerOne of the most important tasks when creating your estate plan is naming an executor of your will. This is the person who oversees the distribution of your assets and working with the court during the probate process. If, for some reason, you don’t have an executor at the time of your passing, the courts will designate one for you. 

How long will the process take?

With a clear-cut estate, probate can take anywhere from six to nine months. However, if your will isn’t straight forward, that time will increase. For example, if you have assets that weren’t listed in your will or your documents weren’t updated after a major life event like a divorce or having children. 

Is there a way to avoid going through probate? 

Many people want to avoid the probate process because it takes money from their loved ones and prolongs the legal process after a passing. Luckily, by having your lawyer create a living trust, you can avoid this process. This protects assets like personal belongings, pieces of property, and bank accounts. 

 

 

If you’re seeking a lawyer to help you prepare for probate, talk to the professionals at Morrow, Gordon & Byrd, Ltd. in Newark, OH. With over 80 years of experience, they ensure your assets are properly distributed after you pass. Visit their website for more information on their practice, and call (740) 345-9611 to schedule an initial consultation. 

Other Announcements, Events and Deals from Morrow, Gordon & Byrd LTD
Answering 4 FAQ About Bankruptcy & Estate Law, Granville, Ohio
You’ve spent your life acquiring assets and building wealth, so an estate plan is essential for deciding how your property is distributed after you’re gone. Unfortunately, if an heir...read more
How Owning a Small Business Impacts Estate Planning, Granville, Ohio
Probate law is known for its complexities. Yet, the legalities of asset ownership become even more challenging if you own a business when you pass away. Without the correct documenta...read more
3 Estate Planning Tips for Single Parents, Granville, Ohio
If you’re a single parent, it can be challenging to think about what might happen to your child should you unexpectedly pass away. Fortunately, you can prepare for this possibility b...read more
A Brief Guide to Real Estate Law, Granville, Ohio
If you've just started shopping for a home, you’ve probably reached out to an agent or even met with a seller. However, you may also need to get in touch with a real estate law exper...read more
Choosing Between Debt Relief & Bankruptcy, Granville, Ohio
If you're facing financial woes, you're probably wondering how you can resolve your issues and get back on your feet quickly. You have several options to get out of debt and reg...read more