Dealing with the probate proceedings after the death of a loved one is not easy. You are possibly trying to navigate through the process and are wondering what you can possibly do to minimize the hassles. Your best bet is to go for a fully-confidential consultation with one of Cherry Hill NJ Probate Lawyers. Here are the key things to know about the probate process at a glance.
- The executor opens the probate. The executor, who is the personal representative chosen by the deceased, opens the probate process. They must submit the will to the proper county court, following which the court will validate the will. Probate may be necessary even when the deceased dies with the will, and the court will follow the intestacy laws of New Jersey to make decisions.
- Small estates may not have to go through complicated probate procedures. As you may know, the probate process is a complicated one. In New Jersey, a simplified process exists for smaller estates worth $20,000 or less. Talk to your probate lawyer to know more.
- Notices are sent to all implicated parties. The executor is responsible for ensuring that the will is executed appropriately and must send proper legal notices to all interested parties. Besides the potential heirs, other parties, like creditors, must be notified too.
- The need to take comprehensive inventory. The executor is also responsible for taking a comprehensive inventory, which involves identifying all assets, liabilities, and properties that are associated with the estate. The probate process will only start when all these details are identified and verified.
- Not all assets are subjected to the probate process. Assets that the deceased had placed in a valid trust don’t have to go through the probate process. That’s one of the reasons why many people prefer to have revocable trusts. The executor will identify all such assets, and eventually, everything will be classified as probate assets or non-probate assets.
Finally, you should know that all property and assets, which are a part of the will, can be only distributed to respective heirs when the process is over. This also means any claims against the estate, including debt and taxes, must be handled before anyone gets anything. Expectedly, people often have the most challenging time with inheritance.
Check online to find an estate planning lawyer to help you through the probate process and tackle the complicated legal work.