Familiarize yourself with the four steps in the probate process, as well as the opening of probate, the decedent's personal representative, taking inventory of the estate, formal v. informal probate of a will, the decedent's debts and taxes, and distribution of the decedent's property.
When a person dies, his or her estate is settled and distributed to any heirs and beneficiaries. But how exactly does a person’s death lead to the distribution of his or her property? Today, you’ll be learning about the process of probate.
In our discussion today, we’ll be covering four steps of the probate process. First, we’ll talk about the opening of probate and the decedent’s personal representative. Next, we’ll discuss the inventory of the estate and the informal or formal probate of...