Austin Probate Lawyers

What is Probate?

You may have heard the term “probate” before, but you may have never taken the time to fully learn and understand what exactly is meant by it. Probate is a word used to describe the legal processes that take place after an individual has died. These processes include determining the validity of the deceased’s will, officially passing the deceased’s estate to his or her beneficiaries, and settling any debts that may have existed prior to the death.

Determining the Validity of a Will

This process is carried out by the court system, and it must take place before any of the estate is given to the beneficiary or beneficiaries. If there is no written will present, or if the will is deemed invalid, then the court has the authority to decide who will receive what.

Passing One’s Estate to the Beneficiaries

In one’s will, an executor is named to carry out the probate process. This person has the task of taking inventory of all the assets of the deceased. Depending on the standing debts of the individual, the executor must decide whether or not to liquidate these assets in order to pay off the money owed. The executor then distributes the remaining assets to the beneficiaries.

Settling Debts

The debts of the deceased must be settled before the probate process can be completed. It is up to the executor to not only settle these debts, but to also pay the probate taxes, court fees, and establish any will-declared trusts. The executor typically receives some sort of stipend from the deceased for his or her work.

Contact Us

For more information on the probate process, please contact the Austin probate lawyers of Slater, Kennon & Pugh LLP today at 512-338-1100.