The Probate Process: Understanding, Preparation, and Trusted Home Offer's Guidance

What is probate?
When engaging in estate planning, it's crucial to ensure that your wishes are honored, and your loved ones are well cared for. This is where the probate process comes into play. Probate is a legal procedure that occurs following an individual's passing. The court validates the deceased person's will, and their assets are distributed in accordance with the established instructions. Despite its common occurrence, many individuals are not well-versed in or prepared for the intricacies of probate. This us where we can help. Trusted Home Offer is a family run business. We’ve been helping families for decades navigate these situations. We may or may not be the best fit for you, and if we cannot help we will point you in the right direction. We don’t charge any fees upfront.

Reach out to Trusted Home Offer at 208-919-9579 or by email at [email protected]. Find us online at thoffers.com.

How does probate work?
After the demise of a property owner, known as the decedent, a probate court steps in to review their assets and facilitate their distribution. Typically, this involves validating and executing the instructions outlined in the deceased person's will. The term "property" in this context encompasses not only land and real estate but also vehicles, capital, and any other assets owned by the decedent.

The individual responsible for initiating the probate process is called the executor. Most wills designate a specific executor—often a family member or friend—who must begin the probate process by submitting the will to the court. This process must be completed within a specified timeframe following the decedent's death, with each state having its own deadline.

The executor collaborates with the court to locate the decedent's property, assess its total value, and settle any outstanding debts or taxes owed by the decedent. In cases where the decedent's debts and remaining taxes surpass their assets, the estate is deemed insolvent. In such instances, the executor may opt not to initiate probate, saving on legal costs, but any remaining assets will be allocated to the state to settle outstanding debts. Beneficiaries named in the will lose their claim to inheritance when an estate is declared insolvent.

The duration of the probate process varies based on the complexity of the will and the decedent's estate. The more intricate the situation, the lengthier and potentially more expensive the probate process may become. Contested wills can also contribute to a prolonged probate period. Trusted Home Offer can assist with this process. Although we are not attorneys we can recommend ones we’ve worked with in the past.

Probate without a will
If the deceased did not leave a last will and testament, or if the probate court could not validate the will, their estate becomes intestate. In such cases, an administrator is appointed to oversee the distribution of assets. This process involves locating and contacting legal heirs, starting with surviving spouses, then children, and subsequently, other family members. Contacted heirs must step forward within a specified timeframe, as dictated by state laws, to claim their inheritance.
Probate without a will tends to be a more expensive process, consuming both time and resources. We can help in these situations.

When is probate required?
While probate is a valuable process, its time-consuming nature and associated legal costs warrant careful consideration of when it is necessary. Most states have specific rules determining when probate is triggered, often tied to the total value of the estate. For instance, in certain states, probate is required if the total value of assets exceeds $100,000. Estates falling below this threshold can often skip probate, with benefactors usually required to submit an affidavit to claim their inheritance. This affidavit confirms their identity and the existence of a will.