The probate process is one that is often misunderstood. You might think that if your loved one had a will, you won't have to go through probate; however, this may not be the case. The probate process serves a few purposes. One of these is that the will is filed with the court and proven. During this process, the witness of the signing of the will provides testimony or an affidavit that notes the person was of sound mind and understood the implications of the will at the time of the signing.
Some adults choose to create an estate plan that includes a will, and sometimes, trusts. Anyone who is responsible for the handling of the estate when a loved one passes away should be prepared for the duties that come with this task. It isn't always easy because some estates are fairly complex. Knowing how to take care of the necessary tasks can make doing them easier when you are already dealing with the emotional trauma that comes with the loss of your loved one.
Thinking about having to go through probate when your loved one passes away might bring up feelings of fear and dread. It doesn't have to be this way. In some cases, a person's estate plan might make it possible to avoid probate.
One of the most important things you can do to protect your family members is to have an estate plan in place when you pass away. The cornerstone of this is the will. When you write yours, you don't have to do anything extravagant. It can be fairly simple as long as it has the legally required elements and doesn't contain anything that may have it tossed out.
There is a lot to think about when creating or administering an estate, with probate at the top of the list.
If you are a proactive kind of person, you probably get a lot of kidding for expecting the worst to happen. However, to you, it just makes good sense to anticipate the worst and make a contingency plan. This may mean having an alternative plan when your daughter wants an outdoor wedding, overpacking when you go on vacation and creating an emergency savings account just in case.