After an individual passes away, their accounts and assets need to be settled. This process of settling is called probate, and it allows their estate to be distributed among heirs. For their home, it will go through the following steps.
An Executor is Named
The first step in the probate process is to name an executor of the estate. The probate courts need an individual to work with directly in order to distribute the estate properly. The executor is typically a close relative of the deceased, who knows them well. This individual is put in charge of handling the probate process, and the individual’s remaining assets. This is a big responsibility, and it can be difficult to do. Especially because the executor is still dealing with their own grief, being so involved in the distribution of the estate is quite a burden to place on their shoulders. However, appointing this person is crucial to completing the probate process.
The Paperwork is Filed
To truly begin the probate process, the courts need the proper paperwork. The executor of the estate is in charge of filing any necessary paperwork, including their will, a probate information form, a probate tax return, and more. All of this paperwork needs to be filled out properly to ensure that the estate is distributed as the decedent wished. To make sure this is done, it can be helpful to hire an attorney that specializes in probate. They can help you handle everything, and file things correctly. Once this paperwork is properly filed, you can begin the distribution process.
An Heir is Decided
In the case of the individual’s home, there are a few different ways it can be distributed. First, the courts look to the decedent’s last will and testament. This legal document allows the individual’s wishes to be known before passing away. If they mention the heir they’d like to inherit the home in their will, the property can be directly transferred to that individual. However, a will is not always left. In this scenario, the courts will work with the executor to determine who the decedent would have chosen. Sometimes, no one decides to keep the home. Especially if the individual accumulated a lot of debt, the family may decide to sell the home to pay these debts. In that case, the best option would be to sell the home to a home buying company, which will give you a cash offer on the home, regardless of its condition.
The probate process can be long and complicated, as well as emotionally fraught. However, this process is necessary to make sure the individual’s final wishes are met. This is the basic process of probate for a house.
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