How much does an estate have to be worth to go to probate?
Jan Meriss Alfonso Assistant at Parklin Law One of the most common questions people ask their estate planning attorneys is, "How much does an estate have to be worth to go to probate?" The question refers to the process known as probate, which is the court-supervised administration of a decedent's estate. Probate Process In general, when a person dies, if he or she didn't leave a valid will, her property is parceled out according to state law. The probate process, which varies by state, essentially boils down to: -A court oversees the collection and disbursement of the deceased's assets. -An executor (who may be an attorney) is named by the court to manage the assets. -The executor pays any debts and taxes due on behalf of the deceased. -The executor distributes what remains of the assets in accordance with the will or according to state law if there was no will. -There are specific criteria that estates must meet before they can go through probate: -They must ...