few-good-sites.com
Search:    Site Home :> About Us :> Security & Privacy :> Terms of Use :> Place Your Link :> Add Article   
 
 

How Do You KNOW if Your Identity Has Been Stolen?

As our lives become more dependant on conveniences like credit cards, the Internet and other technol ... - Eric Benefield
 

Everyone Should Have A Living Will

There is an old saying, "nothing is sure in life except death and taxes". Whether you like it or not ... - David Hallstrom
 

Are You at Risk for Identity Theft? Learn How to Protect Yourself

Identity Theft is America?s fastest growing type of robbery. There have been an estimated 9.9 millio ... - Michelle Dunn
 
 

Probate Sales

In this article well see who can sell the assets of the decadent and how it is done." - Josh Riverside
 

Notary Public: Answering Your Questions

Are you sick of looking all over for information but coming up short? Learn all that you do not know ... - Jason Montag
 
 

  Site Home › Policies & Law › Will & Inheritance
   
 

Probate Records

   
Author: Josh Riverside
 

All important documents which are used in the probate process are known as probate records. The first category of records relate to personal properties which are to be submitted to the court.

The will should state what assets are involved, who are the beneficiaries, who will be the personal representative, guardian for minor children less than 18 years old, someone to manage childrens property [if the heirs are minors or young adults], signature of witnesses, signature of self and endorsement by the notary.

Courts and law firms give out prescribed forms for writing a will. Today, there are not only printed books, but also e-books, CDs and computer software, all available for developing a will. Software is a bit more expensive than book versions. [All these versions come within an approximate price range of US$25 to 50].

The next important document is proof of assets, which are in decedents sole name. These can include bank accounts, securities, Individual Retirement Accounts, life insurance policies/premiums, employee benefit plans, foreign property, Social Security benefits, IRS Tax Refunds and US Savings Bonds.

The second category includes administrative papers which are necessary in any probate. These include Petition for probate of will and Letters testamentary or a Petition for letters of administration, which is submitted along with the prescribed filing fee and the death certificate.

The judge conducts probate proceedings, appoints a person to handle the probate issue and execute the will or administer the assets respectively. Then issues the order sought. Both the above mentioned letters are known as letters. Some courts call this letter Notice of appointment.

When necessary, the judge holds hearings and clarifies queries raised by issuing written directions called "orders." For instance, there is an order to pay the decedents debts and taxes and divide the rest among the beneficiaries.

The next important record is Notice of administration. This is also known as Notice to creditors. This is a notice given by the personal representative after identifying, gathering, appraising and safeguarding probate assets, for publication in a local newspaper. This is done so that every body, particularly creditors if any, will come to know of the current position of the properties. It enables the creditors to take responsive action by claiming the amount due to them by filing a `creditors claim, to get back any money owed by the decedent. In Washington and some other states, `Notice to creditors is optional.

Then the Personal Representative disburses the property to all the heirs and beneficiaries, and obtains a document signed by them. This document, known as Receipt and Waiver signifies that the heirs and beneficiaries have received their respective share of the estate.

Next, the Personal Representative submits all the Receipts and Waivers and a Declaration of Completion of Probate to the probate court.

Finally the court issues an Order for transfer of property to heirs and beneficiaries. This is the epilogue of the probate episode.

 
 
 

Related Articles

 
Preventing Identity Theft
 
Electrical Safety in the Workplace: What are you Obligated to do?
 
Immigrant Integration, 6 Ways to Ensure your Immigration Decision was the Right Decision
 
Probate Records
 
India at 60...Growing and Shining (Part-I)
 
Could you be sued by Santa this Christmas?
 
Last Will And Testament Laws
 
Medical Power of Attorney
 
6 Easy Steps To Prevent Identity Theft
 
Last Will And Testament Forms
 
 
 
Get 3 way links
 
 

Education & Reference

 

Self Management

 

Creative Arts

 

News & Media

 

Internet & Computers

 

Technology & Science

 

Adventure & Sports

 

Property & Estate

 

Indoor Games

 

Teens & Kids

 

Business & Companies

 

Online Shopping

 

Travel & Vacation

 

People & Society

 

Investment & Finance

 

Policies & Law

 

Relationship & Lifestyle

 

Jobs & Careers

 

Drink & Food

 

Family & Home

 

Entertainment

 

Healthcare & Medicine

 

Vehicles & Automotive

 

Fitness & Health

 
Site Home :> Security & Privacy :> Terms of Use  
Copyright © www.few-good-sites.com - All Rights Reserved Worldwide.