Probate is a process that has to take place through a court to prove the validity of any will left behind by any person after his or her death. This process establishes how the estate of a deceased person is administered.
A properly written Will becomes a legal record that still has to go through the legal process of getting a grant of probate. A Will is a record of the desires of the deceased person about how any estate or assets are to be distributed or managed. This allows for financial arrangments to be made for the family and people close to the person. For children under 18, guardians can be appointed to ensure that their interests are looked after. To get a grant of probate, the appointed executors have to register the Will and give a sworn undertaking to administer the will and also to certify its authenticity. In case of large estates, inheritance taxes have to be paid and accounts submitted to the authorities. In the oath taken, the executors have to undertake to manage the estate and settle all taxes payable.
The death of every person requires that his or her estate has to go through probate a process that goes through a court. If there is no will, the court will appoint a representative who will distribute the estate or assets as per the laws of succession in that state. These laws generally distribute assets as per hereditary succession.
The process of probate requires all the assets and liabilities of the deceased person to be collected and then payment of taxes before the assets are distributed as per the probated will or as directed by the court representative.Legacy probate or the probate of a will requires proving in court that a will is genuine. No distribution of property or assets can be made without probate, and once this is completed and other stipulations required by the court are honored, the estate can be distributed as per the terms of the probated will. A Will has no legal status unless it is probated, and it is therefore important that the person who has the will of the deceased, must immediately put it up for probate. This requires that the Will is made as an instrument that complies with all statutory requirements, like witnesses, and being testamentary, which allows it to take effect only after the death of the person making the Will.
Head over to https:/