Wills & Probate
A will (also known as a 'testament') is a document used by a person to dictate the disposition of their property and assets at the time of their death.
Requirements for someone (known as the 'testator') to put together a will include:
- The person to clearly identify themselves
- To clearly revoke all other previously made wills and codicils (additions)
- To demonstrate the person has the right and desire to freely give away his property
- The document must be signed, dated, and witnessed by two non-beneficiary witnesses at the end of the document
Though it is possible to prepare a will without a lawyer, it is not recommended. Estate law surrounding wills is specific, and any small error can void a will. Without professional legal advice and assistance, a will could contain an error making it invalid in the courts.
When it comes to planning for the future, consult with an attorney. Then you'll know your loved ones will be protected.
Probate is the legal process of validating a will, settling the estate of a deceased person, and distributing property.
The steps involved in probate:
- validating the will
- inventory all property
- appraisal of property
- paying all estate debts including taxes
- distributing all remaining property according to the dictates of the will
Probate can take months to a year to fully settle, depending on complexity of the estate, disputes, and bills.
Most wills establish an executor - or administrator - for the estate. This person presents the courts with the will, a list of assets and property. If a will does not designate an executor, the courts appoint one.
Probate requires extensive paperwork and court appearances. Having a lawyer experienced in probate issues helps you deal with those complications during an already difficult time. Your attorney will guide you through the issues dealing with someone's estate.