For various reasons, most people are under the impression that probate is a process that should be avoided at all costs. A recent article explains the process of probate, and why it is not always a bad thing.
An estate will typically go through probate when the decedent has assets owned in his or her name alone, or has debt in his or her name alone. Probate is the process that takes place after a person dies and their will is submitted to the court. Through probate, the person appointed as executor of the estate will first settle any creditor claims against the estate, then distribute the remaining assets to the beneficiaries. The court will supervise the entire process of settling the estate.
Contrary to popular belief, there are some benefits to probate. First, probate gives your creditors a very short time period for which to make any claims against your estate. This means that, theoretically, creditors can be cut off in a specified period of time after the death of the decedent. Second, probate provides judicial finality. After the probate judge has determined that the process was completed correctly, heirs are cut off from pursuing further legal proceedings.
