Dealing with (and Avoiding) the Mandatory Complexities of Probate
Executing a will after a loved one has passed away involves probate, a court-supervised process that validates the will, resolves creditor claims and pays debts, and transfers ownership of assets from the deceased to beneficiaries.
Probate is generally required if the deceased owned real estate or had significant assets in their name alone. It is generally not required for assets with named beneficiaries (e.g., life insurance, retirement accounts) or for assets held in a trust.
The Probate process involves filing a petition (submitting the will to the Probate and Family Court), appointing a personal representative (executor) to manage the estate, notifying creditors and paying final debts and taxes, and distributing the remaining assets to the beneficiaries. Probate costs vary based on the estate’s complexity and include court filing fees, legal fees, executor fees, and property appraisal costs.
In Massachusetts and many other jurisdictions, the original will must be filed within 30 days of death. If no will exists, the court will appoint an administrator to distribute assets under state intestacy laws (the rules that govern how a person’s assets are distributed when they die without a valid will).
Consulting an attorney who specializes in estate planning and probate court matters is highly recommended when both creating and executing a will. The Law Office of Julie Low can not only guide and advise you through the process but also ensure that key proactive steps and strategies are implemented in the estate planning process to avoid probate. One strategy is to set up a Revocable Living Trust, in which you transfer assets while retaining control as trustee during your lifetime. Upon death, a successor trustee distributes assets privately, avoiding probate court.