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Probate Process

Probate Process

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Probate Process

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  1. Probate Process

  2. What is Probate Process? • Probate is the process used by states to settle the estate of a deceased person. • The process usually runs several thousand dollars for even simple estates and far higher if there are complicated issues or family disputes.

  3. Step of Probate Process • Identifying the property • Identifying the properhires • Pay any outstanding taxes & debts • Distribute property to hires

  4. Probate is a process that includes • Filing papers requesting the court to “admit” a will to “probate”. • Appointing the “executor” designated under the will to gather all of the assets. • Paying all debts of the estate. • Making distributions of the remaining estate to the designated legatees under the will.

  5. Probate process requires at least two court hearings • Submit the documents to the court for its approval. • Court hearing to close the estate once the probate process is completed.

  6. Assets to avoid probate • Payable-on-Death/Joint Accounts • Retirement accounts • Transfer on Death Deed • Trust Planning

  7. Elder law center of wisconsin Address: 125 N. Executive Drive, Suite 210,  Brookfield, WI, 53005 Website: https://www.elderlawcenterofwisconsin.com Phone: (262) 812-6262 Toll Free: (866) 865-3306 Fax: (480) 969-0079 Email: info@elderlawcenterwi.com

  8. Social Media Channels https://www.facebook.com/elderlawwisconsin/ http://www.linkedin.com/in/ryanzenk https://plus.google.com/+ElderLawCenterOfWisconsin