When we work with clients to probate their loved ones’ estates, only one thing is certain: everyone will have a lot of questions. Probate is not the most intuitive process, although once you see it all in context the steps make more sense. In this blog, we address some of the most frequently asked probate questions.
- Do I even need to open probate? This is by far the most frequently asked of the probate questions. As is often the case, the answer is “it depends”. If each of your loved one’s assets had designated beneficiaries or joint owners, or if their assets were all inside a trust, then you should be able to bypass the probate process. Without a beneficiary or co-owner, in Georgia an asset may only be transferred out of the estate through probate.
- What will I have to do as the Executor/Administrator? You will be responsible for managing all the final affairs of the decedent. This includes marshaling assets, paying debts, filing tax returns, and distributing the remaining assets according to the will or state laws of intestacy. You must provide financial statements to the heirs or beneficiaries, and you may be required to file inventories and reports to the Probate Court as well.
- Why is it such a long process? Even for a smaller estate, it takes time to open probate. It is necessary to prove to the Probate Court that the Will, if there is one, is legally valid and is the most recent version. When there is no Will, the Court must be satisfied that you have correctly identified and notified all the heirs of the estate to ensure they receive their proper share. Although it is frustrating to wait, it is much better than the alternative. If the process were not so thorough, it would be far easier for someone to falsely claim a share or improperly transfer assets to themselves.
- Why do you have to go through probate when the Will says who gets what? Again, this is a safeguard so that you know the Will is the decedent’s true “last” will and testament. Otherwise, the first person to produce a Will – whether it is legitimate or not – could claim part or all the estate.
- What if the Will says one thing and the beneficiary designation another? In Georgia, beneficiary designations on accounts generally override the Will. Accounts with joint owners also immediately pass to the co-owner, even if the Will says differently.
- Are a person’s debts written off after their death? The deceased’s outstanding debts must be settled by the Executor or Administrator, although they are not personally responsible to pay them. Creditors are given a specific period to come forward and make claims against the estate. If there are sufficient assets, then they must be used to pay the debts. The Georgia legislature determines what types of claims take priority and the order in which they should be paid.
- Does the home not pass directly to the surviving spouse? It may or may not. In Georgia, a property may be co-owned “as tenants in common” or “as joint owners with rights of survivorship”. Owners with rights of survivorship listed on the deed are allowed to inherit real property outside of probate as a matter of law.
At Grissom Law, we work with individuals and families to prepare estate plans designed to avoid the probate process where possible and to expedite probate when necessary. Call us at 678.781.9230 to schedule an initial consultation to discuss your probate needs in Georgia.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.