What Is Probate & Why Should You Know About It? Probate is a court-supervised process that takes place after someone passes away to handle their estate—this can include real estate, bank accounts, and other assets. Through probate, the court:�• Confirms the validity of a will (if one exists)�• Takes inventory and assigns value to assets�• Settles outstanding debts and taxes�• Distributes remaining assets to heirs If there’s no will, state law determines who receives what. Simply put:�Probate mea
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Replying to @Kelli Luna Chavez dad is on the deed to grandma’s house, but dad passed away. What happened to the house now? The answer, probate. The court supervised government controlled and judge approved asset distribution system that happens after somebody passes away without in the state plan. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty
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