Technically, it is not necessary to go through probate if the deceased person left a will. However, if some assets were not specifically arranged to avoid probate, the heirs will not be able to take legal ownership of them[1]. There may be some exceptions to this rule in certain jurisdict...
Executors and personal representatives disburse estate assets according to the will. Within the context of wills and estates, there is no difference between an executor and personal representative. The term "personal representative" is merely a gender neutral appellation for "executor" or the feminine ...
Also, note that there is a specific period of time for creditors to file a claim against the estate. When an estate is probated — the process through which assets such as cash, investments and real estate aresold or divided among heirs— the process prioritizes creditors. Though unlike sec...
Does the car have liens against it? If the car had a loan or lease against it, it will need to be paid off first or it will belong to the person holding the loan. Whose possession is the car physically in now? Are your sister's assets frozen? Has the will been probated? The ...
In most cases, a will is probated and assets distributed within eight to twelve months from the time the will is filed with the court. Probating a will is a process with many steps, but with attention to detail it can be moved along. Because beneficiaries are paid last, the entire esta...
dies, the other becomes full owner and can continue using the account and its assets without disruption. If the joint account does not have rights of survivorship, the deceased’s share of the account may go through probate for distribution according to their will or state succession laws.[3...
which does not recognize common law marriages. Due to the Full Faith and Credit clause of the United States Constitution, an Arkansas court will have to view that relationship as a valid marriage if one of the "spouses" files for divorce, if one dies and a will must be probated, etc. ...
An estate doesn’t always have to go to probate, and this is generally true whether the decedent diedtestate or intestate(died with or without a valid will). Not all wills need to be probated.Whether or not probate is necessary for a decedent’s estate depends mostly on what assets are...
Some assets can bypass probate because beneficiaries have beeninitiated through contractual terms. Pension plans, life insurance proceeds,401k plans, medical savings accounts, and individual retirement accounts (IRA) that have designated beneficiaries will not need to be probated. Likewise, assets jointly...
An heir is someone who is legally entitled to inherit the deceased's assets when no will is present. Heirs are typically children or other living relatives. Nations and states have laws concerning inheritance and who qualifies as an heir. What Is the Difference Between an Heir and a Beneficiar...