Whether you are in the early stages of setting up an estate plan, a beneficiary in your loved one’s estate plan or in charge of an estate, it is vital to go over various legal issues related to the probate process. Sometimes, people avoid probate altogether by carefully crafting their estate plan. On the other hand, some beneficiaries and executors face hardships when estate plans are not managed properly (or false allegations surface).
In addition to thoroughly reviewing the basics of probate, it is crucial to go over the individual details of your circumstances and safeguard your interests.
What happens during probate?
On their site, the New York State Unified Court System outlines various aspects of the probate process. In the probate process, which proves the validity of a will, courts have executors carry out the decedent’s wishes and distribute assets among beneficiaries. The Surrogate’s Court monitors this process and executors have a number of responsibilities, such as filing a copy of the decedent’s death certificate and the will along with the probate petition in the appropriate county.
What else should you recognize with respect to probate?
In probate proceedings, heirs receive a notice from the Surrogate’s Court, which determines their rights with respect to inheritance. It is mandatory for beneficiaries to receive these notices and they can consent or object to the appointment of an executor. If you are in charge of an estate that is going through probate, review the filing fee, which varies from one estate to the next depending on the estate’s size. Probate disputes arise frequently and can result in significant financial and emotional hurdles.