A will Is a legal document that outlines what you would want to take care of their death concerning their funeral, care for their children and most important of all, distribution of the estate. The reverse of this would be dying intestate. An executor might be a close relative, a relative, trusted friend or an lawyer. An executor is usually called a ‘representative of the estate in probate’ in a will so as to cover executors of both sex.
A will is very important as it Makes things much easier for the family of a deceased person particularly when it comes to estate supply difficulties. A will reduces the chance of disagreement or misunderstanding between relatives when attempting to work out the deceased’s death dreams. Administering a will is nevertheless not as simple as it might sound. This is because the law demands wills to be validated by a court that could take a few months to do. Validation of a will is accomplished by the executor by submitting an application for a Grant of Probate in a probate court.
Procedure for identifying, validating and distributing the estate of a deceased individual under strict court supervision. The probate procedure includes payment of outstanding debts to creditors and payment of outstanding taxes like inheritance and death tax. A probate court is a special court that interprets the will and validates any claims on the estate created by third parties like the creditors of the deceased. The court oversees the probate process right from once the executor files for a grant of probate up to when it’s granted and possession of the estate is transferred to the beneficiaries.
The oath proves that the executor is dedicated to administering the wishes mentioned by the deceased at the will. The executor named in the will is usually not recognized by the law before the probate court formally appoints them as the agent of the estate in probate.
If A will was properly drafted, it requires the court a while to grant probate. Incase the beneficiaries aren’t completely happy with the court’s conclusion, probate law enables them to contest the validity of the will at exactly the same court. In case of intestate death, or if there’s no executor is named in a will, the grant of probate is known as a ‘Letter of Administration’. Additionally it is acquired through a court procedure and is issued to the individual the court deems fittest to execute the will or distribute the estate.
A Will or probate attorney is a trained professional that provides legal Solutions to an executor. This type of professional helps the executor with Fulfilling the responsibilities assigned to them by the will. They Can also assist with payment of inheritance and death taxes. Read more on my website 遺產分配.