The Giles Law Firm
Probate generally refers to a statutory and court system which direct how your affairs are to be managed during your lifetime and/or after death.
During your lifetime: Probate refers to guardianship and conservatorship proceedings.
After death: Probate refers to estate administration, meaning: marshalling of a decedent's assets, paying taxes, paying creditors, paying probate expenses, accounting for assets and distributing the decedent's property.
Probate is required if a decedent owned property in his or her individual name without a beneficiary designation, at the time of death.
Most people want to avoid probate because it is time-consuming and may be costly.
Although a will is important, a will does not avoid probate; it may reduce the costs of probate and have other benefits, but having a will does not avoid probate.
There are various types of probate proceedings depending on the size of the estate and the type of assets involved. As a result, it is usually good to consult with a professional if someone you know has died.
If you wish to know more about probate, need assistance in maneuvering the probate process, or wish to learn more about how to avoid probate please contact Molly Giles for a free consultation at (248) 645-1210 or email @ email@example.com.
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