Have you lost a family member and a few days after the funeral, you get a letter at home from a family member saying now that your Aunt, Uncle, Grandmother, etc., has passed, they need you to sign this paper right away so they can sell the home or get access to the bank accounts? In the envelope is a single piece of paper with a place for you to sign as an heir. Should you sign? What does it mean? These are questions we get all the time.
Generally, to access a deceased person’s bank accounts, investment accounts, to sell a home, or car, or other property, someone must petition the court to begin a process known as probate. https://grissomlawfirm.com/happens-estate-probated/.
If the deceased had a Will, then that document says who should be in charge of the assets and how they should be distributed. If there is no Will, then the person who petitions the court to begin probate will be asking to be appointed. Either way, all heirs of the deceased must sign an acknowledgment, which says that they have:
- Read a copy of the Will, if there is one;
- Agree with the petitioner being named as the person in charge of the estate;
- Sometimes asking you to waive bond and inventory.
So, although you may not be the person petitioning the court for the probate or asking to be in charge of the estate, you still have some rights. You should see a full copy of the Will, if a Will existed. Keep in mind, while you may be an heir, it does not mean that you will actually receive anything under the terms of the Will. See our blog on heirs and beneficiaries to understand the difference: https://grissomlawfirm.com/difference-heir-beneficiary/. All heirs must be notified to open a probate, but only the beneficiaries receive anything. If there is no Will, the assets are divided by law to the heirs. Sometimes an Executor has to report and account the deceased assets to the Court, but sometimes the Will waives that requirement. Knowing how much information you are entitled to helps you understand the process better and work with the Executor more efficiently. Before you sign any documents presented to you, consult with an attorney to make sure you are seeing all the documents you are entitled to and make sure the probate process is being handled correctly.
At Grissom Law, LLC, we are experts at navigating the probate process. If you need to open a probate and are the Executor, or if you are a family member who just isn’t sure what is going on, having a knowledgeable person to guide you through the processes can be helpful. We can help you make sure your rights are being protected and you are receiving all of the information you are entitled to as an heir or a beneficiary.
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