Probate is a legal process in which a will is being validated, and determine the inheritors to legally transfer the decedent's assets. https://www.unitedhousingsolutions.net/

1. WELCOME TO

2. PROBATE/ESTATE PROPE

3. What is
Probate?

4. Probate is a legal
process in which a
will is being
validated, and
determine the
inheritors to legally
transfer the
decedent's assets.

5. When Is
Probate
Necessar
y?
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6. Probate is necessary when there is no
will, to determine the beneficiaries and
to distribute the decedent’s assets and
title of the property.

7. When a will exists it needs to be
validated, that the will is the
final version, that there are no
mistakes or that it wasn’t
fraudulently executed. Probate
is a legal process that the
decedent’s assets are legally
transferred to the inheritors.
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8. Probate is necessary when an estate has
issues to resolve such as;
• The decedent has no named heirs.
• The decedent has a joint property but
no right of survivorship.

9. Probate may not be necessary if:
The voluntary administration
proceeding can be filed as an
alternative to probate if the decedent
had less than $30,000 of personal
property either with or without a will.

10. Individuals with a moderate to high net worth take
steps frequently to prepare an estate plan that avoids
probate, to simplify the distribution of their assets to
the heirs.

11. If a person's estate consists
only non-probate assets,
there is no need for the
probate process.

12. • Assets held in trust
• Bank accounts with a named
beneficiary
• Retirement accounts, like a 401k and
IRA
• Life insurance policies with a named
beneficiary
• Jointly held savings, checking, and
brokerage accounts
• Jointly held real property
Non-probate assets include:
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13. What Is the
Probate Process?
The executor must file the original will and a certified copy of the death
certificate with the probate petition (Many state courts provide this form) and
other supporting documents in the court of the county where the deceased
person lived. There is a filing fee based on the size of the estate.

14. In some cases the executor will need to post
bond before they can act on and oversee the
probate process to settle the estate. The Bond
acts as an insurance policy that will kick in to
reimburse the estate in case the executor makes
a mistake deliberately or not that financially
damages the estate and its beneficiaries.
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15. Inventorying the property. The
executor must collect the decedent's
belongings and have them appraised.
Many states require from the executor
a written report listing everything
the decedent owned with each asset’s
value to be shown in court.

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YOU