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Services -- Probate
Probate
Probate is the legal process of administering the estate of a deceased person by resolving all
claims and distributing the deceased person's property under the valid will. A probate
interprets the instructions of the deceased, decides the executor as the personal
representative of the estate, and adjudicates the interests of heirs and other parties who
may have claims against the estate.
Trustees need to be guided in how and when to distribute assets and how to take creditors
rights into account. A Petition to appoint a personal representative may need to be filed and
Letters of Administration obtained.. There are time factors involved in filing and objecting
to claims against the estate. Property may need to be sold to effectuate correct distribution
of assets pursuant to the estate plan or merely to pay debts. Estate taxes must be
considered if the estate exceeds certain thresholds.
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