ESTATE SETTLEMENT – PROBATE

Probate with a Will

What is Probate?

Probate comes from a Latin word which means to “prove.” To probate the Will therefore is to prove its authenticity. If there are no challenges to or defects in the Will, the Register of Wills (PA) or the Surrogate’s Office (NJ and other states) will accept it as authentic provided it meets the requirements of a valid Will under the law.

Wills are only registered or filed with the court after death. They are not registered before death. This allows a person to change the Will any time before death by having a new Will written or by having a Codicil (amendment) written to change certain terms in the Will.

Once the Will is accepted by the Court, Letters Testamentary are issued officially appointing the Executor as the person to administer the estate.

The Executor will usually then obtain legal help to take the estate administration through the many steps required under the law to bring it to a successful conclusion which will mean having: (a) filed all necessary legal papers with the court, (b) gathered all assets, (c) paid any debts due, (d) paid any taxes due, (e) prepared and filed an accounting of the estate administration with the court and the beneficiaries for approval.

There are many other aspects of the administration of a decedent’s estate involving paying state inheritance taxes, federal estate taxes if due, the individual’s last income tax return, tax returns on interest earned during the administration of the estate, advertising of the estate, filing inventory, notices to beneficiaries, defending any actions brought against the estate or Executor, pursuing any claims on behalf of the estate and other legally required acts.

When all duties have been fulfilled and after obtaining an approved accounting by the beneficiaries or the court, assets are distributed according to the terms of the Will.

FOR ADDITIONAL INFORMATION

CALL THE TOLL FREE HELP LINE 1-800-232-1477

E-mail: Lawyer@sun-in-law.com

JAMES W. PEARSON, JR.

Attorney-at-Law