With the right Lafayette, LA ancillary probate lawyer by your side, the probate process for your loved one’s will does not have to be the long, drawn-out, and stressful ordeal that you may envision it will be. At Theus Law Offices, we have extensive experience with probating wills, from wills that have a simple probate process, estates that have a complex and acrimonious probate process, and estates that require ancillary probate when the decedent owned property in another state other than Louisiana when they died.
What Is Probate?
Probate is the process that an estate has to go through before the assets can be divided among the heirs. This is done in accordance with the decedent’s will. If there is no will, then the assets of the estate will be divided according to the laws of the state the decedent lived in.
The following are the steps that must be taken to complete the probate process:
The will has been filed, and the heirs have been notified.
After a person dies, the person named as the executor of their estate files the will with the probate court in the county where the decedent lived. If there is no will, the court will appoint an administrator of the estate. Once the petition is filed, the court will set a hearing date. All beneficiaries named in the will must be notified. If they object to any terms in the will, they can file a motion contesting it. There is also a requirement that a notice of the hearing be published in one of the county newspapers in the legal notice section.
If the person owned property in another state, a Lafayette, LA ancillary probate lawyer can help you through the steps needed to begin the process in that state.
Creditors are notified.
Once the court approves the appointment of the executor named in the will, that individual will notify all creditors of the estate. The purpose of this is to give them a chance to file a claim against the estate for any debt the decedent had with them. The notice the creditor receives will include a deadline date by which they must file their claim.
An inventory of assets is made.
The executor is also responsible for making a list of all the assets the decedent owned. Each asset must also be appraised to verify its worth. Some of the assets that should be on this list include:
- Bonds
- Business interests
- Collections
- Digital assets
- Financial accounts
- Real estate
- Stocks
- Vehicles
An inventory of debt is made.
No assets can be distributed to any heirs of the estate until all the expenses of the estate have been addressed. Some of the approved costs include the following:
- Any debts due to the federal government
- Any debts due to the state, county, or municipality
- Any money that is owed to employees of the decedent
- Funeral and burial expenses
Heirs
Once all expenses have been paid and any claims against the estate settled, the assets can be distributed to the estate’s heirs. The executor will ask permission of the court to do so. If there is no will, the administrator would seek court approval to distribute assets under the state’s intestate laws. Once the court approves, assets will be liquidated, financial accounts, stocks, and bonds will be transferred, and new deeds will be drawn up for any real estate being transferred.
This process is conducted in both the state where the decedent lived and any other states where ancillary probate is taking place due to assets owned there. If you have questions and need assistance with your loved one’s estate, contact Theus Law Offices to schedule a consultation with a dedicated Lafayette, LA ancillary probate lawyer.
