Estate planning is one of the valuable services that the OMG Law Firm provides to Jonesboro and beyond. We are experienced with the entire process – from creation to transferral. This transferral is called “probate.”
When a loved one dies, it can be an overwhelming time. That is why the OMG Law Firm is here to help with the probate process. In the next two blogs, we are going to clarify probate and why you need our help with it.
- What is probate?
- Probate is the legal process by which a deceased individual’s assets are transferred to their beneficiaries or heirs by a pre-selected executor.
- Probate is only possible if the deceased person’s will is proved valid, which is why you should create your will with the OMG Law Firm’s experienced probate lawyer, Aaron Heller.
- If there is no valid will, the court distributes the deceased’s property via an executor.
- What is an executor?
- The executor is a person who follows the deceased’s will or makes decisions if there is no will. This person is appointed by the court.
- The executor identifies all assets and determines which need to go through the probate process. They also tally up the value of the estate and any neglected debts.
- All debts, bills, and taxes have to be paid from a checking account that the executor sets up. After the debts are paid, the executor makes sure the remaining assets get to the right people.
- The executor is liable for any damages if he or she does not fulfill the duties correctly.
As you can see, the probate process is both necessary and complex. Contact the OMG Law Firm today to learn how we can help you!