What Almost No One Knows About Probates
What Is A Probate and What Is It For?
It is after losing a loved one whether a friend or a family member and they assign you as their will executor that you get introduced to the word probate. Therefore, what is a probate? Generally, a probate is the court order granted to the will executor who was assigned by the deceased to be able to follow the guidelines or the wishes availed by the deceased or the testator in their will. In simpler terms, it’s through the probate that an executor is confirmed. It is after the probate is issued that the executor gains authority to distribute all the assets as per the guidelines availed by the testator or the deceased in their will.
Many people are prone or have the tendency of neglecting the power and the overall necessity of a probate. Basically, the court of law should first confirm and prove that a person is dead or rather that a testator is dead before the will could be legally validated and the executor issued a probate. Therefore, if a testator left behind a will, the probate is inevitable.
The other fundamental definition that probate denotes is the process which an executor follows legally before the will could be authorized or could be accepted by the court of law. There is a fallacy amongst the populaces that a will become effective immediately a person dies. A good example is if the testator had some good money in the bank; before accessing it, the executor needs a prostate.
There are instances where probate might be unnecessary. One, it’s where a person dies without writing or leaving behind a will by all means. Where there is no will left behind, there is another legal process to be followed. The other instance is where the deceased had a small estate with no real estate whatsoever.
A probate should only be applied by a person or then people assigned or appointed by the testator as the will executors. The probate attorney hired by the executor is also mandated to apply the probate on behalf of their client. Once the probate has been applied for and granted by the court of law, then the will of the testator and all their wishes are legally endorsed or validated by the court or legally.
For an executor to have full mandate or authority over the wishes of the testator, they should consider applying for a probate. The longer you stay before applying for the court order, the longer you will stay before having the deceased wishes honored. With the probate, the executor is legally endorsed to fit in the shoes of the testator and effectively or execute the wishes of the testator.