When a descendant passes away, the distribution of their property can be determined through a will or by the probate court if no will exists. In the absence of a will, the court appoints a Personal Representative to follow the laws of Descent and Distribution, typically based on hereditary succession.
The probate process involves collecting the descendant’s assets, settling debts, paying taxes, and distributing property to heirs. State laws govern probate procedures, which have been subject to debate and reform since the 1960s.
Assets that typically go through probate include solely owned properties like real estate and vehicles, as well as shared properties owned by the deceased person in another’s name. Executors may need to initiate court proceedings for assets requiring legal intervention, with the option to hire a lawyer using estate funds.
Contrary to common belief, having a will does not always eliminate the need for probate. Some states mandate probate regardless of a will’s existence, emphasizing the importance of understanding legal requirements through consultation with an attorney or probate court.
Certain assets, such as joint accounts with a spouse, retirement accounts, life insurance proceeds, and living trust properties, may bypass probate. States often offer simplified probate processes for small estates, with “summary probate” available for estates below a certain value, varying by state.
In cases of joint ownership with survivorship rights, property automatically transfers to surviving owners without court interference. Assets like individually owned properties, tenants-in-common assets, and assets without designated beneficiaries may require probate proceedings based on ownership structures and beneficiary designations.
Ultimately, proper estate planning allows individuals to control the distribution of their assets after death, benefiting both themselves and their heirs. It is essential to understand the probate process and legal requirements to ensure a smooth transition of property.
