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What is Probate?

Posted by Chad Seiter | Nov 19, 2021 | 0 Comments

Probate is the court process to enable a court-appointed fiduciary to collect assets, identify beneficiaries, identify creditors, pay creditors, and then distribute net estate assets.

Probate is usually necessary only when a person dies having had sole ownership of an asset without a beneficiary designation. Examples of such assets might include a vehicle, a bank account, or a house.

Court-appointed fiduciaries are sworn in by the judge to manage the estate. Both executors and administrators are considered court-appointed fiduciaries. An executor is typically nominated within a deceased person's Last Will and Testament. When someone dies without a valid Last Will and Testament, the judge will typically appoint an administrator to manage the estate.

To learn more about the probate administration process, please call Darpel Elder Law today.

About the Author

Chad Seiter

Attorney at Law

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