To probate a will after death, the executor of the will has to file probate papers, prove the will is valid and supply a list of the deceased's assets and debts as well as the names of the inheritors, notes Nolo. The probate process is often time consuming and expensive.Continue Reading
If an executor hasn't been named to handle the probate process, the probate court can appoint an administrator instead, says Nolo. The administrator is most often either the individual who stands to inherit the most of the deceased's assets or the nearest relative who is capable.
After relatives and creditors have been notified of the individual's death, the executor has to find, secure and manage the deceased's assets until the probate process has concluded, notes Nolo. If the deceased had any remaining debts, the executor may have to sell off assets in order to take care of those debts. Immediate family members can request to receive support funds for a short period of time during the probate period, if necessary. Before property can be transferred to new owners, the executor has to receive permission to pay the deceased's taxes and debts and split the rest of the assets among any organizations or people indicated in the will.Learn more about Financial Planning