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When someone passes, the surviving family members or the court must settle their estate. Probate is the process by which this happens. It’s wise to familiarize yourself with these proceedings because you may need to navigate them if a loved one names you executor or leaves you assets. Understanding probate will also help when it comes time to draft your own estate plan. Here’s what you should know.

Frequently Asked Questions About Probate

What happens during the process?

Probate begins by validating the will and locating all the deceased’s assets. Applicable debts and taxes are paid, and any property that remains is distributed among the eligible beneficiaries.

Does every estate have to go through probate?

probateWhile most estates will have to pass through probate, there are a few exceptions. If the estate is comprised solely of assets that are exempt from probate, it may bypass the proceedings altogether.

How long does probate take?

Probate can take anywhere from a few months to several years to complete. The size and complexity of the estate will have a significant impact on the total duration of the proceedings. The proceedings may be extended if certain assets are difficult to locate or disputes arise among beneficiaries.

Is probate necessary if there’s no will?

Probate is necessary regardless of whether the deceased made any estate planning arrangements. If there’s no will, the laws of intestate succession will apply when it comes time to distribute property. These laws state which family members and dependents are eligible heirs and what portion of the estate they’re entitled to based on their relationship with the deceased.

 

If you need help navigating probate or want to implement an estate plan so your loved ones can bypass it, contact Ng & Niebling in Honolulu, HI. This law firm has counseled clients throughout Oahu for over 40 years, helping them minimize death taxes, preserve assets, and mitigate disputes between beneficiaries. To schedule a free initial consultation, contact them online or call (808) 732-7788.

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