The primary purpose of estate planning is to make life easier for your friends and loved ones after you pass away. Therefore, there’s value in learning about and planning for the probate process, the authentication of your will. In Nebraska, there are two main types of probate: informal and formal. To find out how these differ and what it means for your heirs, take advantage of this guide.

Informal Probate

In this common probate format, there must be no major conflicts with creditors or between those who will be inheriting parts of your estate. For example, your daughter and son shouldn’t both be expecting to inherit the childhood home and you shouldn’t owe a substantial amount of credit card debt or child support. 

To begin the informal probate process, the executor—the person you’ve left in charge of your estate—must file an application with the probate court. Then, they’ll receive “Letters Testamentary” in the mail, authorizing them to carry out the contents of the will. They’ll need to send out official notices to everyone mentioned, including creditors and beneficiaries.

In case there are other creditors waiting for their dues, they’ll need to put an ad in a local newspaper, issuing public notice of the “Letters Testamentary.” From there, the executor can prepare, appraise, and distribute the estate assets according to your wishes. To finish, they’ll need to provide proof of the steps above to the probate court.

Formal Probate

There are two forms of formal probate in Nebraska: unsupervised and supervised. This type of probate is often reserved for estates surrounded by conflict or those that have significant assets. After the petition for a probate hearing is filed, a court date is scheduled within two to four weeks. 

Formal probate proceedings must take place in court and are presided over by a judge. This way, the judge can intervene in conflicts between beneficiaries or handle disputes from creditors. They can also offer their own reading on the unclear terms in a will.

In a supervised formal probate, the court is much more vigilant of the process—in fact, they must be present for all the distribution of assets and payment of debts. 

To learn more about this aspect of the estate planning process, reach out to David R. Webb, Attorney at Law. This Lincoln, NE, attorney has 30 years of experience helping clients make a plan for the future so that they can leave their loved ones with assets and without added stress. Whether you’d like to set up a trust or choose a power of attorney, you can rely on his guidance to point you in the right direction. Visit the website to learn more about his practice areas. Call (402) 477-7577 to set up an estate planning consultation.