What You Need to Know About Informal Probate of Will
Losing a loved one is never easy, and it can be one of the most challenging times in a person’s life. The last thing a grieving individual wants to think about is the legal process of settling their loved one’s estate. Unfortunately, this is a process that needs to be addressed, and understanding the informal probate of will can make the process a little easier.
Probate is the legal process that occurs after someone dies, where their assets are distributed according to their will or state laws if there’s no will. Each state has its own laws about probate, and some states have different options for handling the process. Informal probate is one of those options.
What is informal probate?
Informal probate is a simplified version of the probate process, which is generally used when the estate has no conflicts or disagreements. It allows the executor of the will to distribute property without going through the formal probate process.
How does informal probate work?
In informal probate, the executor of the estate files an application with the probate court to request that the estate be settled without the court’s involvement. The court will then provide a certificate, allowing the executor to act on behalf of the estate. The executor can then transfer assets to beneficiaries, pay off debts and taxes, and generally carry out the wishes of the deceased.
What are the benefits of informal probate?
One of the most significant benefits of informal probate is that it’s typically faster and less costly than going through the formal probate process. The executor doesn’t have to attend court hearings and doesn’t need to submit a detailed accounting of every financial transaction that occurs during the process.
Additionally, informal probate can be less stressful for the family involved since they don’t have to cope with the complex legal proceedings and can instead focus on grieving their loss.
When is informal probate not appropriate?
While informal probate is a less complicated process, it may not be suitable for every situation. In cases of more complex estate planning and larger estates, formal probate may be necessary. Additionally, if there are disputes among beneficiaries or creditors, probate court involvement may be required to resolve them.
Conclusion
While the informal probate of will is not the best option for every estate, it is worth considering for those with small to moderate-sized estates where the executor wishes to avoid the formality and expense of the formal probate process. By understanding this option, executors can make informed decisions about how they distribute the estate’s assets, allowing them to carry out the wishes of the deceased while minimizing the stress of the probate process.
