October 14
Cortes Law Firm Oklahoma City Estate Planning Attorney
Probate Process Takes FOREVER Probate is a process wherein the estate of a deceased person is passed to his heirs and beneficiaries after satisfying certain debts and taxes.
Probate can take forever because there are lots of steps involved in the probate process such as locating the decedent's assets, determining heirship, filing federal and state tax returns, paying any outstanding liabilities such as mortgages and credit card bills, distributing assets to heirs by court order, etc.
Probate takes forever because it involves various levels of review by different governmental authorities, which will make sure that the estate is distributed to its rightful owners.
During this process, creditors are given a chance to file claims against the estate and collect their debts from the deceased person's assets. Probate court proceedings may also be delayed if heirs or beneficiaries disagree on how they should divide the decedent's property or claim some items as exempt from probate.
Probating an estate can also take forever if there is a need for appraisal of certain assets such as land and business interests, which require time-consuming research and reporting.
Estate planning can help you avoid probate and save your family from the probate process which takes forever.
Probate can take forever because there are lots of steps involved in the probate process such as locating the decedent's assets, determining heirship, filing federal and state tax returns, paying any outstanding liabilities such as mortgages and credit card bills, distributing assets to heirs by court order, etc.
During this process, creditors are given a chance to file claims against the estate and collect their debts from the deceased person's assets. Probate court proceedings may also be delayed if heirs or beneficiaries disagree on how they should divide the decedent's property or claim some items as exempt from probate.
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