What Exactly Is Probate?

Many people are unfamiliar with the probate process, and the uncertainty surrounding it can cause worry among families dealing with the loss of a loved one. Unless you have been named the executor of an estate, you probably have not dealt with probate issues. Therefore, it’s a good idea to consult with a lawyer who deals with Wills and probate issues.

Probate Defined

Probate refers to the administration and validation of the Will of a deceased person—the decedent. It also involves settling debts and distributing assets under a court’s supervision.

Before the disbursement of assets, property, and funds to named beneficiaries, the Will typically is “in probate,” usually a six-month period during which individuals, creditors, and other companies can pursue payment for outstanding debts or bills tied to the estate.

Upon death, the executor named in the Will is tasked with carrying out the probate process. If no Will exists, the county court delegates an administrator, upon application of a family member or other individual.

What Does an Executor Do During Probate?

If someone has named you the executor of their Will, you should expect to carry out the following actions during the probate period:

• File papers in your county probate court. If you live in Hamilton County, you or your probate lawyer would file with the Hamilton County Probate Court, located in the William Howard Taft Center in Cincinnati (230 East Ninth Street on the ninth and tenth floors).
• Prove the validity of the decedent’s Will. The executor provides the court with the original Will, which contains  the signatures of two witnesses.
• Provide the probate court a list of the decedent’s property and debts and a list of people who stand to inherit property or assets.
• Notify next of kin and  beneficiariesof the decedent’s passing.
• Locate, manage, and secure the decedent’s assets and other holdings.

These steps may take several months, depending on the circumstances and size of the estate. Depending on what the Will says, the executor may decide to sell the decedent’s home or investments or take other necessary financial steps to settle the estate and pay the necessary taxes. If the decedent has a significant amount of debt, the executor may need to sell parts of the estate to pay it off.

After all debts and taxes have been paid, the executor can divide the decedent’s estate among the individuals or legal entities named in the Will. In most states, the decedent’s immediate family may request a release of funds on a short-term basis during probate.

Get Probate Advice from a Qualified Estate Planning Attorney

If you have questions about probate or any other estate planning issue, call Donnellon, Donnellon & Miller today at 513-891-7087 to learn more or to set up an initial consultation. You can find our offices on Montgomery Road in Cincinnati. You can also reach us through our online contact form.