English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

2007-10-17 19:17:38 · 2 answers · asked by i_put_down_the_toilet_seat 1 in Politics & Government Law & Ethics

2 answers

I assume you mean stages of probate.

The first step is someone filing to open a probate estate. If there is a will, it is typically filed at the same time. As part of the opening of the probate estate, someone is named as executor or administrator of the estate by the Probate Court. (If there is a will and the will names an executor, the Court will normally appoint that person. If no one is named, the Court will typically appoint the next-of-kin).

After the estate is opened, the Executor publishes a notice of the opening of the estate in a "newspaper of record." At the same time, the Executor takes charge of the property of the deceased that is subject to the probate estate. (For the most part, this stage involves contacting banks, stock brokers, etc., to get accounts re-titled from the decedent to the estate). As part of this process, the Executor files an Inventory of known claims and assets of the estate.

The next potential stage involves proving the will and/or a will contest. Basically, there is a limited amount of time after the estate is opened for someone who believes that the will is invalid (and there are several potential grounds for challenging the will) to file a will contest. If no will contest is filed and the evidence supports that the will filed is the last known will of the decedent, the executor can proceed with disposing of the assets according to the terms of the will.

At the same time, the Executor is dealing with resolving claims of the decedent against other people and claims of other people (e.g. credit card companies) against the decedent. Subject to the approval of the Probate Court, the Executor attempts to resolve all such claims in a timely fashion. As with the will contest, there is a deadline for people filing claims against the decedent.

Depending on whether there is a will contest or significant contested claims, the estate could be open for a lengthy period. (Other things that could lengthen the estate include assets that need to be converted into cash but take time to sell -- e.g. real estate). If the estate is open for a lengthy period, the executor is required to file periodic settlements informing the Court and interested party of the details of how the estate is being managed.

After all disputes about the will and the affairs of the decedent are completed, the executor files a final settlement and a proposed plan to distribute the assets. Again, if an interested party believes that the plan is not consistent with the will, that party can challenge the plan. After the Court is satisfied that the distribution plan is proper (or revises the proposed distribution plan), the executor then distributes the property in accordance with the Court's order. (If there is no will, the distribution plan must be in accordance with the jurisdiction's law on intestate distribution).

As part of the distribution process, the executor gets receipts from the beneficiaries and files these receipts with the Court. When all of the property is properly distributed and accounted for, the executor is discharged and the estate is closed.

2007-10-17 19:53:29 · answer #1 · answered by Tmess2 7 · 0 0

The application of law in last will and testament of a deceased will always depends on what country you reside.Usually, the assigned and trusted lawyer will call and notify the concerning heirs with regards to how the property are divided to a concern involve heirs. Whatever will of command stated in the last will of the decease person will and must be followed specially if it is legal signed by the deceased in his full knowledge and wisdom, and documented it should be followed. The heirs can not change what it is being stated there and the assigned lawyer will act as the administrator and implementor of the "Last Will and Testament."

2007-10-18 02:38:35 · answer #2 · answered by mae 2 · 0 0

fedest.com, questions and answers