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What is the importance of probate?

When you envision what steps you need to take in the time after a loved one or family member dies, your mind may go to their will and remaining assets.

Going through probate when administering an estate is an important step to giving all the beneficiaries what the deceased person left them.

Check the will

According to U.S. News and World Report, part of the reason behind this process is to make sure the will left behind is valid and correct. If this is not verified, someone could try to forge or change the deceased person’s final wishes and potentially steal money or important assets.

An executor should oversee most parts of this process and work with the courts to make sure that all beneficiaries get everything left to them in the will.

Note and pay any debts

One important aspect of probate is making sure that the executor knows what debts they still need to pay on behalf of the deceased person. These payments come from the estate’s money, but it is important to make sure that the executor files all the proper forms and meets any deadlines.

Talk with and distribute assets to beneficiaries

The next step is contacting any beneficiaries who need to receive assets and inheritances from the estate. Infighting may be a danger if the will is not verified or has different information, which is why going through probate and making sure the will is authentic is important.

No matter what you need to complete, understanding why probate is vital for anyone with a will is beneficial.