Probate is the process by which a person’s assets are transferred and debts are settled upon his or her death. It is a critical piece of estate planning, as probate ensures that your estate’s distribution happens fairly and according to your wishes, as supervised by the legal system.
Probate is initiated by someone acting on behalf of the decedent — usually the person who is named as the executor and takes responsibility for settling the decedent’s affairs. Or, if there is no will, the court will appoint an administrator to oversee the process. This is often a family member such as surviving spouse or adult child.
This probate administrator will oversee the process of having the will read and presented in probate court, and then going through the phases of probate: inventory of the estate’s assets, settlement of outstanding debts, and transfer or distribution of remaining assets. These steps are all overseen and regulated by probate law and probate courts.
Probate is a complicated but necessary legal process – one that is often complicated by emotions and concerns of grieving family members and business partners. Albin Oldner Law, PLLC is fortunate to have effective, compassionate and accomplished lawyers on our team that can advocate for you. Our reputation and track record in North Texas probate courts will serve your estate well during a difficult time.