How does the probate process work?

How does the probate process work?

When a person is getting their estate in order, they typically create a will and appoint an executor to the will. When that person passes away, the executor of the will has the duty of carrying out the person’s last wishes, taking the will to probate, handling outstanding financial matters, and distributing all assets.

The executor of a will has a lot of responsibilities that they should make themselves aware of before agreeing to this role. They need to carry the estate through the probate process. This is supervised by the court that assists in administering all of the duties associated with a person’s estate. Some of the most important aspects of the probate process are as follows.

First, you will need to prove that the will is valid under Connecticut State law. Once the court approves the will, the executor can begin the process of determining exactly what all of the assets are and what value each asset possesses. The executor will then have to determine what the outstanding liabilities and other payments must be made on behalf of the deceased party. In addition, they must pay off all debts as well as finalize any taxes for the party.

Only after these matters are handled should the executor begin the process of distributing assets to the beneficiaries. If the deceased person has a will, the executor should follow that document in regards to the distribution. If the person died intestate, or without a will, the executor will distribute assets based upon Connecticut’s laws of intestate succession. Finally, the executor will have to file an Affidavit of Closing of the estate within 30 days from the date in which all of the assets have been distributed. It shows the state of Connecticut that you have completed your duties as the executor.

If you have questions regarding your role as an executor, contact the Law Offices of Marc N. Needelman to schedule a consultation.

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