What Is Probate?

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What Is Probate?
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Last Wills
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The typical layperson will often equate estate
planning to the creation of a last will
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Everyone knows that you record your final wishes
regarding the transfer of your property in your
will
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But what happens after you die?
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How do these wishes become reality?
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Postmortem Phase
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When you create your will you should include the
selection of an executor
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This person will administer the estate
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Under Oklahoma state law the executor can't just
hand out inheritances
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He or she must admit the will to the probate
court, and the estate must be probated
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The Probate Process
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Probate serves a purpose
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What if there was something amiss?
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Without probate there would be no forum within
which interested parties could PRESENT CHALLENGES
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In addition to this, the decedent may have
outstanding debts
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Probate provides creditors with an opportunity to
seek satisfaction before inheritances are
distributed
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Probate Expenses
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Probate does not come without expenses
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1
The executor is entitled to payment for his or
her time and trouble
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2
The executor will often engage the services of a
PROBATE ATTORNEY
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An accountant may be necessary to settle final
tax responsibilities
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Appraisals and liquidation can also be required
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In addition, the court imposes a fee
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Probate Takes Time
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The heirs to the estate must wait until the
estate has been probated and closed before they
will receive their inheritances
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It can take months or even years in some cases
for an estate to be probated
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Probate Is Public
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When your estate goes through probate the
goings-on become A MATTER OF PUBLIC RECORD
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This is a brief look at probate
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To Learn More Receive a FREE Report Entitled,
Probate A Process, Not a Problem (A 19.95
Value!) CLICK HERE OR Call 405-562-9609 Today
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13913 Quail Pointe Drive, Ste B Oklahoma City, OK
73134 Phone [phone] Nall Avenue,
Suite 160 Overland Park, KS 66211 Phone (913)
385-9400