Probate is the legal process of validating a will, settling debts, and distributing assets under court supervision. It applies when the deceased owned assets solely in their name.
12 steps across 2 sections
1. Steps Process
- File the will with probate court — Submit the original will within the deadline (varies by state, typically 30-90 days after death).
- Petition for probate — File a petition to open probate and appoint the executor (named in will) or administrator (if no will).
- Notify heirs and creditors — The court requires formal notice to beneficiaries and publication of notice to creditors.
- Inventory assets — The executor must identify, value, and catalog all estate assets.
- Pay debts and taxes — Pay valid creditor claims, final income taxes, and estate taxes from estate funds.
- Distribute remaining assets — After debts and taxes, distribute according to the will or state intestacy laws (if no will).
- Close the estate — File a final accounting with the court and petition for closure.
2. Key Details
- Timeline: 6-18 months typical; contested estates take longer
- Costs: 2-7% of estate value (attorney fees, court costs, executor compensation)
- Small estate exemptions: Many states allow simplified probate for estates under $50K-$150K
- Assets that bypass probate: trusts, joint tenancy, beneficiary designations (retirement accounts, life insurance, POD/TOD accounts)
- Intestacy: If no will, state law determines distribution (usually spouse and children)
Common Mistakes
- Not filing the will promptly
- Distributing assets before debts are paid (executor personal liability)
- Not publishing creditor notice (extends the claims period)
- Mixing personal funds with estate funds
- Not getting court approval for actions
Pro Tips
- Hire a probate attorney — the estate pays their fees
- Small estate affidavits can avoid full probate for smaller estates
- Open a dedicated estate bank account
- Keep meticulous records of all transactions
- Communicate regularly with beneficiaries to avoid disputes