Probate is the legal process of administering the estate of a deceased person, resolving all claims and distributing the deceased person’s property under a will. The court decides the legal validity of a will and grants its approval by granting probate to the executor. A probate also officially appoints the executor or personal representative, generally named in the will, as having the legal power to dispose of the testator’s assets in the manner specified in the will.
Estate administration can be either Supervised or Unsupervised. In the event of unsupervised administration, the executor is free to make decisions regarding the estate and report those actions to the Court. However, Supervised Administration requires court approval prior to taking any action.
In the event that a decendent’s estate is valued at less than $50,000, assets may be transferred via an Affidavit of Transfer rather than having to go through the probate process.
The passing of a loved one is a stressful time. Allow us to help ease the burden with our estate and probate services.
Trust Administration involves the Trustee overseeing the assets held within a trust. A Trustee has a fiduciary duty while performing trust administration. This means that the Trustee owes the highest obligation to protecting the assets within the trust and the interest of the beneficiaries.
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