We all have some assets and estate we need to protect. In such cases, estate planning will be an ideal solution. You should consider estate planning in Ridgeland if you want to enlist your family members as beneficiaries. When drawing an estate plan, you will likely need a trust or will to secure the assets by adding inheritors. Without trust or will, it can become difficult to be assured about an estate plan.
When one does not draft and legalize a will or trust, it is likely that a probate proceeding will take place, and the estate will be divided according to the court’s final decision. However, most people need to become more familiar with probate, and it’s working. It will be beneficial for you to stay aware of such crucial topics.
What is probate?
Before getting to know how probate works, it will be ideal to understand what probate is. Generally, people who plan to make a will often need to remember to do it, thinking they have plenty of time. Probate is the procedure for one’s estate, which comes under effect in case of death or incapacitation.
Probate is a legal proceeding in which the court starts reviewing and distributing one’s estate to the proper heirs if there is no will. The procedure of probate becomes easier if you have a will or trust that clearly states your wishes and demands about the estate.
As a result, probate is a court-supervised procedure that authenticates the will(if you have one) and approves the name of the executor to distribute the assets further.
How does probate work without a will?
Now that you know the significance of a will in the probate procedure, you must also know how probate works without a will. The process of probate becomes more complicated in case of no will. The increased complication and time is the need for more documentation stating one’s final wishes.
In such cases, the court handles all the proceedings and makes the final decisions regarding the estate. Working a probate without a will involves the court and other legal authorities deciding how the estate will be distributed. Without a will, the probate will follow legal protocols and rules rather than an individual’s wishes.
How can I avoid probate?
You can avoid the complicated probate procedure by drafting and legalizing a will or living trust. You can specify your wishes in the will or trust and state how you want the estate distributed amongst the beneficiaries. It would be helpful if you hired an estate planning lawyer in Ridgeland, as they can assist you throughout the process.