[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/what-are-the-stages-of-probate-white-plains-ny-greenwich-ct\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/what-are-the-stages-of-probate-white-plains-ny-greenwich-ct\/","headline":"What are the Stages of Probate?","name":"What are the Stages of Probate?","description":"\u201cAlthough most assets in your estate may pass through the probate process, other assets may not. It often depends on the type of asset or how an asset is titled.\u201d Probate is a court-supervised process occurring after your death. It takes place in the state where you were a resident at the time of your […]","datePublished":"2021-03-30","dateModified":"2023-07-29","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso, LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso, LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0278801fab4e.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0278801fab4e.jpg","height":600,"width":395},"url":"https:\/\/www.amorusolaw.com\/blog\/what-are-the-stages-of-probate-white-plains-ny-greenwich-ct\/","about":["Administrator","Beneficiary","Estate Planning","Executor","Fiduciary","Probate","Trusts","Will"],"wordCount":656,"keywords":["Administrator","Beneficiary","Estate Planning","Executor","Fiduciary","Probate","Trusts","Will"],"articleBody":"\u201cAlthough most assets in your estate may pass through the probate process, other assets may not. It often depends on the type of asset or how an asset is titled.\u201dProbate is a court-supervised process occurring after your death. It takes place in the state where you were a resident at the time of your death and addresses your estate\u2014all of your financial assets, real estate, personal belongings, debts and unpaid taxes. If you have an estate plan, your last will names an executor, the person who takes charge of your estate and settles your affairs, explains the article “Understanding Probate” from Pike County Courier. How exactly does the probate process work?If your estate is subject to probate, your estate planning attorney files an application for the probate of your last will with the local court. The application, known as a petition, is filed with the probate court, along with the original last will, and requests the appointment of the executor of your estate.First, the court must rule on the validity of the last will. Does it meet all of the state\u2019s requirements? Was it witnessed properly? If the last will meets the state\u2019s requirements, then the court deems it valid and addresses the application for the executor. That person must also meet the legal requirements of your state. If the court agrees that the person is fit to serve, it approves the application.The executor plays a very important role in settling your estate. The executor is usually a spouse or a close family member. However, there are situations when naming an attorney or a bank is a better option. The person needs to be completely trustworthy. Your fiduciary will have a legal responsibility to be honest, impartial and put your estate\u2019s well-being above the fiduciary\u2019s own. If they do not have a good grasp of financial matters, the fiduciary must have the common sense to ask for expert help when needed.Here are some of the tasks the fiduciary must address:Finding and gathering your estate\u2019s assets and liabilitiesInventorying and appraising the assetsFiling the estate tax return and your last tax return, usually with the assistance of an accountantPaying debts, managing creditors and paying taxesDistributing the assetsProviding a detailed report of the estate settlement to the court and any other partiesWhat is the probate court\u2019s role in this part of the process? It depends upon the state. The probate court is more involved in some states than in others. If the state allows for a less formal process, it\u2019s simpler and faster. If the estate is complicated with multiple properties, significant assets and multiple heirs, probate can take years.If there is no executor named in your last will, the court will appoint an executor. If you do not have a last will, the court will appoint an administrator to settle your estate following the laws of the state. This is the worst possible scenario, since your assets may be distributed in ways you never wished.Does all of your estate go through the probate process? With proper estate planning, many assets can be taken out of your probate estate, allowing them to be distributed faster and easier. How assets are titled determines whether they go through probate. Any assets with named beneficiaries pass directly to those beneficiaries and are outside of the estate. That includes life insurance policies and retirement plans with named beneficiaries. It also includes assets titled \u201cjointly with rights of survivorship,\u201d which is how most people own their homes.Your estate planning attorney will discuss how the probate process works in your state and how to prepare a last will and any needed trusts to distribute your assets as efficiently as possible.Reference: Pike County Courier (March 4, 2021) “Understanding Probate”For more information on asset preservation and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"What are the Stages of Probate?","item":"https:\/\/www.amorusolaw.com\/blog\/what-are-the-stages-of-probate-white-plains-ny-greenwich-ct\/#breadcrumbitem"}]}]