After someone passes away, their estate goes through the legal process of validating their will and administering their assets, called probate. It is standard practice to help ensure that the debts and financial obligations are in order before distributing the remaining properties to rightful heirs. But sometimes, an estate can skip this process and go through more straightforward alternative procedures based on the circumstances.
This route can be preferable, considering it is usually less costly and lengthy than the usual process. Still, an estate can only be eligible for these alternatives based on the assets, their details or the estate’s value, such as the following:
- Life insurance policies with indicated beneficiaries
- Retirement benefits and bank accounts, naming a person as a beneficiary or joint owner
- Properties transferred into a living trust
- Assets subject to joint tenancy, such as land or other real estate properties
- Any property with the right of survivorship
- An estate with a total value not exceeding $166,250
These assets typically forego traditional probate, going through a simplified process instead. However, in some scenarios, it can be challenging to determine if probate is necessary. Sometimes, the deceased may leave behind confusing or contradicting instructions and paperwork, potentially affecting whether the estate qualifies for these alternative options.
Knowing how to approach probate-related concerns
Since many details and decisions can be left in the air after someone dies, addressing probate issues and other related concerns can overwhelm the appointed executor. In these situations, seeking legal counsel can help lighten the burden and navigate the appropriate options. It might not ensure everything runs smoothly, but it can help organize the estate and understand what should happen next.