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click For assets to be distributed under a will, a legal action must be initiated so that a judge can “probate the will.” In broad terms, this requires the party who initiates the probate process to establish that the will meets all of the legal formalities to be enforced. The steps involved in carrying out the probate process will usually be handled by a personal representative. The basic steps in the probate process include:rencontres femmes italiennes
http://www.ivst-vz.de/?debin=was-ist-der-unterschied-zwischen-bin%C3%A4ren-optionen-und-copy-trading • Gathering the assets of the estate
• Satisfying outstanding financial obligations
• Accumulating income and dividends owed to the estate
• Resolving any outstanding disputes
• Distribution of the remaining net assets to heirs
While probating a will can be either a contested or uncontested proceeding, contested proceedings usually arise when a potential beneficiary under the will believes that he or she has not been treated fairly and should receive a more substantial portion of the estate. These challenges typically are based on a lack of proper execution of formalities, undue influence exerted over the decedent or lack of mental capacity when the will was drafted. Sometimes challenges to a will can be preempted by using a “no contest clause” in a will or discussing one’s intentions with heirs ahead of time so that they understand your justifications for how you distribute your estate.
enter site Although many people use the probate process, much of the focus of estate planning involves avoiding probate. Probate offers the advantage of court oversight of the administration of your estate but has drawbacks like probate expenses, delays in distributing your assets and public disclosure of personal financial information.
http://blossomjar.com/pacinity/2794 The above information is designed solely to illustrate general principles of law, and does not constitute a specific legal opinion on individual cases. We suggest that you contact experienced legal counsel for a specific opinion tailored to your individual circumstances.
If you have questions about a will, the probate process, or how to avoid probate in New Mexico, our Albuquerque Probate Attorneys at Life Leaf Legal Group, PC offer a free consultation in our centrally located offices in Santa Fe and Albuquerque so that we can discuss your specific situation. Call us today to schedule your free consultation at (505) 856-3591 to learn about your rights and options.