Probate is a formal process of asset and debt division when your loved ones pass away. During the legal process, a personal representative may be appointed to oversee the estate, distribute remaining properties and assets to the intended beneficiaries. The representative will also pay creditors in accordance with the law. In certain circumstances, Probate can be hard to avoid, hence on of the best attorneys in Hollywood, Florida listed a few common questions and answers regarding the matter.
- Does a Will need to be probated?
The short answer is yes. The Will will have to be validated and authenticated during the probate process. If a Will is found to be valid, the Judge will order the Representative to distribute assets according to the Will.
- How much does it cost?
The cost varies depending on the factors such as having a Will, how big the real estate is, and the residence. However, you may have to expect costs for attorney fees, compensation for the executor/representative, probate bond, court fees, and notice fees.
- How long does Probate take?
The process depends on whether the probate is contested or not. If the probate is not contested, it may take several months to fully administer the estate. If there are contested circumstances, the process may take several years.
Considering the aging population, it is important to ensure the proper division of your loved one’s estate. There are lawyers in Hollywood, Florida that are true to their passion and are ready to assist you in your legal needs.